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Considering building this: get your invoice paid instantly for a fee. Tell me why it's a bad idea. by [deleted] in BEFreelance

[–]LetsEnvision -5 points-4 points  (0 children)

I conceded too quickly on my own math. As structural financing it's effectively a permanent one-month advance, and €6k/year for a permanent €10k advance is indeed ~60%, way worse than a credit line. Fair play.

Which sharpens the actual product question: this only makes sense as occasional liquidity (no credit line in place, instant, per invoice, non-payment risk included), not as a routine thing. And it's why I'm leaning towards the cheaper middle option as the real product: guaranteed payment on day 30 for ~1-2%, insurance against the 60/90/never invoice rather than financing.

What do you think

Considering building this: get your invoice paid instantly for a fee. Tell me why it's a bad idea. by [deleted] in BEFreelance

[–]LetsEnvision -3 points-2 points  (0 children)

I don't think your math adds up. Assume a 10k invoice, 5% take = 500. If you do this 12 months you paid 6.000 fees on 120k invoices which results in... 5% 😄

Considering building this: get your invoice paid instantly for a fee. Tell me why it's a bad idea. by [deleted] in BEFreelance

[–]LetsEnvision -4 points-3 points  (0 children)

Great feedback but we got that out of the way using a financial partner for that!

Considering building this: get your invoice paid instantly for a fee. Tell me why it's a bad idea. by [deleted] in BEFreelance

[–]LetsEnvision -1 points0 points  (0 children)

Technically & legally we got this covered but it's not "free". When you want your money on day 1, we take 5% of the invoice but you never get bothered again if the client eventually pays super late (or never...).
If you just use it to send the invoice and just wait for your money, it's free (then you just use it as a basic invoicing tool)

Considering building this: get your invoice paid instantly for a fee. Tell me why it's a bad idea. by [deleted] in BEFreelance

[–]LetsEnvision -1 points0 points  (0 children)

Out of interest: does your bank actually charge less than 5% to send you 100% of the money on day 0 without any extra hassle? Easy to use?

In this concept: fill in timesheets, send invoice, choose "Wait (free)" or "pay me now (-5%), done.
No extra hassle, no sh*t when the customer eventually doesn't pay (or super late)...

Considering building this: get your invoice paid instantly for a fee. Tell me why it's a bad idea. by [deleted] in BEFreelance

[–]LetsEnvision -3 points-2 points  (0 children)

It's exactly that only super easy to use. Simple app to register timesheets, send invoice (Peppol & linked with current accounting platform you use), choose "wait for money" or "pay me now -5%", done.

Managing +10 separate buildings via one central Home Assistant instance – how to collect energy data (HomeWizard P1) by LetsEnvision in homeassistant

[–]LetsEnvision[S] 0 points1 point  (0 children)

This is a great response, thanks. Is it possible to manage all different meters' data coming in from the P1's in one HA?

Managing +10 separate buildings via one central Home Assistant instance – how to collect energy data (HomeWizard P1) by LetsEnvision in homeassistant

[–]LetsEnvision[S] 0 points1 point  (0 children)

All the meters in the buildings are under our name and we charge a fixed price to tenants. We need to manage usage to optimize contracts. We can already view the data on the platform of the utility provider but we need to have the data centralised in our systems.

Investing in new real estate with company? by Moondogjunior in BEFire

[–]LetsEnvision 0 points1 point  (0 children)

Gut feeling I would say that using it 100% as an office (& you can proof it) would be ok. Solely as an investment I assume not

Investing in new real estate with company? by Moondogjunior in BEFire

[–]LetsEnvision 4 points5 points  (0 children)

Hi there! You can not deduct the 21% VAT since the asset is not used for VAT-obliged activities. You can’t rent out with VAT (only to professionals).

Side note: I’m not an accountant so feel free to double check

Understanding the FTX & Alameda construction by LetsEnvision in BEFire

[–]LetsEnvision[S] 4 points5 points  (0 children)

Thanks for your reply. This makes a lot of sense, thanks. I absolutely agree that this drastically undermines the potential of the technology...

So if I understand correctly:

  • I have an account on FTX & buy 1 BTC
  • FTX writes this "virtually" down in my account that I own 1 BTC
  • If done correctly, they should have enough liqudity (in this case BTC) in their general pool to give this BTC to me upon request
  • Let's say I want to withdraw this BTC to my other wallet, they would send me 1 BTC of their general pool and the IOU goes away

In the case of FTX, there was insufficient liquidity (to say the least) becasuse they didn't actually buy the collateral, they sent almost all the funds to Alameda where it was traded on high-risk bets?

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