3) for EU companies we ask: Pay direct or online? If online, we invoice in USD, receive payment in USD.
2017-04-06 09627, 2017
Quesito
ok
2017-04-06 09637, 2017
Quesito
never heard of steam conversion....
2017-04-06 09638, 2017
Freso
(Not that I mind for the present case. :))
2017-04-06 09649, 2017
Freso
Quesito: Do you know what Steam is?
2017-04-06 09652, 2017
ruaok
3a) For direct customers, ask would you like a rounded, constant invoice (10USD) or a converted, changing from period to period, invoice (that is 9.75EUR)
2017-04-06 09626, 2017
ruaok
err, 10EUR vs 9.75EUR
2017-04-06 09653, 2017
ruaok
really only the last step is up for question. the rest is kinda fixed by QuickPoops
2017-04-06 09620, 2017
Quesito
ok. so the direct pay EUR users have a choice of a price change. otherwise all is in USD.
2017-04-06 09636, 2017
samj1912
zas: :D all tests passing! :D
2017-04-06 09646, 2017
samj1912
š
2017-04-06 09647, 2017
Freso
samj1912: š
2017-04-06 09651, 2017
ruaok
does that make sense? that means we need to keep track of it.
2017-04-06 09637, 2017
Quesito
it makes sense--but is messy. I do think it'd be better to keep everything USD with conversion rates applying for our growth. (as we expand hopefully so will the different currencies)...
2017-04-06 09608, 2017
ruaok
well currencies will fluctuate.
2017-04-06 09628, 2017
Quesito
it seems to make more work, but it's not my call. ;)
2017-04-06 09632, 2017
ruaok
pegging things in USD, keeps us sort of secure, but we have to shuffle money across the atlantic too
2017-04-06 09605, 2017
ruaok
given that we're a multi-national we need to play all of these games or these games play us.
2017-04-06 09601, 2017
ruaok
what if we express 3a as: " We will always bill on USD and convert invoices to EUR before sending them according to market rate on the day, unless customers insist on having a fixed EUR bill."
2017-04-06 09610, 2017
Quesito
isn't it the currency rates that keep everything equal? keep in mind I'm not a accountant....lol!
2017-04-06 09632, 2017
ruaok
Damnit Jim, I'm not an accountant!
2017-04-06 09640, 2017
Quesito
lol
2017-04-06 09654, 2017
ruaok
well, this isn't even accounting, but international finances, which I have a ok grasp on.
2017-04-06 09643, 2017
Quesito
so wouldn't it be easier to keep everything utilizing the currency exchange rates?--I we list our prices in USD?
2017-04-06 09648, 2017
ruaok
actually international finance is the way to think about this and what I just said doesn't really make sense in that context. heh.
2017-04-06 09609, 2017
Quesito
How does it benefit us not to?
2017-04-06 09612, 2017
ruaok
it really depends on our goals, I'm realizing.
2017-04-06 09635, 2017
Quesito
I feel like this might need a gantt chart.....
2017-04-06 09606, 2017
ruaok
there are the following considerations: Keeping the currency on hand here it is needed. Avoiding bank fees. Hedging against currency fluctuations.
2017-04-06 09635, 2017
ruaok
the goal is to protect our financial security and and to STAMP OUT GANTT CHARTS FROM THE UNIVERSE.
2017-04-06 09653, 2017
LeRoberte has left the channel
2017-04-06 09603, 2017
Quesito
LOL i was just joking....hehehehehe
2017-04-06 09643, 2017
ruaok
seriously this getting complicated.
2017-04-06 09604, 2017
ruaok
let me marinate and then we should discuss over drinks when we meet next.
2017-04-06 09613, 2017
Quesito
I think it makes sense to keep everything equal. $10=9.75 EUR =blah blah blah CAD, etc...
2017-04-06 09615, 2017
Lotheric has quit
2017-04-06 09620, 2017
Quesito
sounds good.
2017-04-06 09602, 2017
ruaok
still, we need a short term solution, since you're sending invoices.
2017-04-06 09612, 2017
Quesito googles Steam conversion....
2017-04-06 09615, 2017
ruaok
I'll marinate over lunch, how about that.
2017-04-06 09627, 2017
Quesito
sounds good
2017-04-06 09610, 2017
ruaok
Gah.
2017-04-06 09642, 2017
ruaok is sliding into an international finance existentialist crisis
2017-04-06 09621, 2017
Quesito may have caused ruaoks international finance existentialist crisis
2017-04-06 09638, 2017
Freso
Darn milkmen.
2017-04-06 09648, 2017
Quesito
ruaok: may have a solution in QB for this issue of $10=10 Euro.
2017-04-06 09606, 2017
Quesito
after your marination lunch ;)
2017-04-06 09627, 2017
ruaok
K, I have a global perspective now.
2017-04-06 09638, 2017
ruaok
Sitting in the sun is amazing.
2017-04-06 09608, 2017
Quesito
excellent! the sunshine is amazing....( i need to remember to get out today....)
2017-04-06 09620, 2017
Quesito
what is your verdict?
2017-04-06 09626, 2017
Lotheric joined the channel
2017-04-06 09652, 2017
gcilou joined the channel
2017-04-06 09605, 2017
justharshal joined the channel
2017-04-06 09621, 2017
ruaok
i just strolled through ciutadella a bit. amazeballs.
2017-04-06 09626, 2017
ruaok
k, you here, Quesito?
2017-04-06 09653, 2017
Quesito
yup
2017-04-06 09647, 2017
ruaok
ok, so the real problem we have to mitigate are exchange rate fluctuations.
2017-04-06 09628, 2017
ruaok
of our 13 unicorns, 5 are in the EU, 8 are in the US.
2017-04-06 09630, 2017
Quesito
hmmm
2017-04-06 09651, 2017
ruaok
and nearly all of our obligations are in the EU. all except one senior developer and our ED (executive dickhead)
2017-04-06 09639, 2017
ruaok
which means that we're a bit upside down on our balance of funds.
2017-04-06 09651, 2017
Quesito
ok
2017-04-06 09641, 2017
ruaok
so, a 50% change in exchange rates between USD and EUR might cause is to lose half of our development team.
2017-04-06 09619, 2017
ruaok
us
2017-04-06 09650, 2017
ruaok
because we have a policy of having contracts denominated in the currency of where the developer lives.
2017-04-06 09608, 2017
ruaok
that shields the contractor from fluctuations and shifts them to org.
2017-04-06 09634, 2017
ruaok
now, when I arrived it was 1.35 USD to the EUR.
2017-04-06 09609, 2017
ruaok
Now closer to 1.10. which means that me personally I've effectively gained some 20% more pay in my paycheck. which is nice, but could be reversed.
2017-04-06 09631, 2017
ruaok
following me so far, Quesito?
2017-04-06 09603, 2017
Quesito
yes
2017-04-06 09601, 2017
ruaok
so, in order to hedge against that, we should peg as much income as possible against the EUR, which then reduces our risk.
2017-04-06 09620, 2017
ruaok
this policy then, will derive our actions going forward.
2017-04-06 09630, 2017
Quesito
I think that sounds smart
2017-04-06 09633, 2017
ruaok
at the drawback of having to do more accounting, sorry.
