Financial Summary 2022-2023
First year operating as a company
The accounting has been done for the first year operating as a company. I've decided to publish the results to bring you all along on this journey of starting a company, as well as to reassure that the pricing is fair and that the business is sustainable. 2022-2023 resulted in an 1499 AUD profit so I won't be leaving my day job, but it's in the right direction.
Transaction fees averaging 7.2% are a visible chuck of the pie. It would be nice to be able to lower this figure, but it seems 30c + 3% is a defacto industry standard. This means the fees for a $5 transaction will be about 10% of the transaction, with the fee tapering off to 3% as the volume goes up. So I'm still on the lookout for less expensive payment options that are still convinient to use.
AWS is a the biggest expense at a little over half the revenue. This does include expenses not directly tied to hosting instances including updating DCS, mistakes / bugs, deployment, developemnt and testing, so I'm pleased it's not higher. A couple of times ive forgotten to delete old DCS installs or old windows images which has incurred a cost, but for the most part I've managed to stay on top of it.
|Transaction Fees||447 AUD|
|Company Registration Fees||250 AUD|
|Accounting Fees||632 AUD|