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Blog — Finances

Paranoid Peace of Mind
Challenges    Finances    Learning   

Paranoid Peace of Mind

Call me paranoid, but one of my big fears is a lot of hard earned money being sent to the wrong bank account by accident. This fear comes from an incident a few years back in another company - a freelance designer I was working with gave an account number which had one digit wrong. As a result I sent a several hundred dollars into a black hole - we could never get that money back, despite pleading with the bank. Since then, every time I've been anal about checking and rechecking account details for large dollar transfers, especially overseas....

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Invoice Hunting #2
Challenges    Finances    Learning   

Invoice Hunting #2

So since starting our efforts a couple weeks back we've made some decent progress We're now down to a bit under $3k owing:- Total amount owing: $8090 -> $2980- Number of shops overdue: 31 -> 19- Median amount owing per shop: $189 -> $105- Average amount owing per shop: $289 -> $104 In particular it's been a relief to collect the 2 largest amounts owing.One preferred to pay by credit card rather than bank transfer (our only method til now). Turns out it was pretty easy to do setup with Square (they make the readers you swipe with in many...

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Invoice Hunting #1
Finances    Learning    Stockists   

Invoice Hunting #1

Being a debt collector isn't the most inspiring part of this journey (and honestly something I've put off for a while), but wanted to share here for transparency and to share lessons learned as we go 🤐So, the background - since we introduced our first products earlier this year, we've issued 141 invoices in Australia, with the majority paid on time and in full. In the last week, our freelance bookkeeper Carla has helped explain how to generate the list of outstanding amounts, to see what's missing after reconciliation (matching incoming amounts to invoices issued)Here's where we stand at the...

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Kicking off our transparency project!
Finances    Milestones    Mission   

Kicking off our transparency project!

So we've sold 15,000 chocs in the 2 months since launch...

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