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Comment by closedloop129 | Hacker News Reader

Is €0.49 for bookkeeping a competitive price? For a €1.99 product, that's more than the paypal fees at €0.40.

Apart from bookkeeping in their own system, paypal also has to handle fraud and regulatory obligations. How can they be cheaper?

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Hi, we do have a bookkeeping fee which is the fee we forward 1/1 from the accounting company currently connected. This allows us to handle payments in the sub- $10 area by not having losses whilst handling payments. We might consider removing the fee in the future once we see sales in the lower $10 area are not really relevant.

Why would you want to log every transaction with an external accountant?

This increases the cost of your service and adds absolutely nothing of value to the customer.

That's due to rules and regulations here in Germany. We need to have our outgoing and incoming invoices being handled properly to not run into tax fraud issues.

By talking to creators from e.g. OnlyFans, the biggest issues they faced was explaining their earnings to the tax authorities with no proper invoices at hand.

By further automating those tasks, we will be able to reduce costs dramatically and might get rid of the bookkeeping fee alltogether.

Maybe you want to just include it in the fee itself. It feels silly to have a separate fee when you advertise with 7%. At the very least it’s 7%+0.49. It’s not my problem that you have to hire an external accountant, and not something that I think is relevant for your customers.

The way you structure the fees is very reasonable. I am just surprised that the fees are that high. Instead of waving the fees you could try to bring them down. As long as there is no manual involvement, why should bookkeeping cost more than a cent?

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