Banking — Santander MXN (Renfroe Hospitality Group, Mexico)¶
Account snapshot¶
- Holder: Renfroe Hospitality Group SA de CV (RFC RHG230202Q53)
- Branch: 0825 SUC. PLAYACAR RIVIERA MAYA
- Client code: 54881947
- Currency: MXN
- Primary account: Cuenta Santander PYME, no. 65-50994620-9
- CLABE: 014694655099462095
- Companion account: Inversión Creciente, no. 66-50994620-9 — zero throughout review; free sub-account, keep as is
- Statements reviewed: January 2025 through March 2026 (15 months)
- Full parsed data:
source-data/santander/renfroe-hospitality-santander-transactions.md
Activity phases¶
Phase 1 — Dormant (Jan–May 2025)¶
Monthly PYME membership fee only ($220 MXN + $35.20 IVA = $255.20, later raised to $250 + $40 IVA = $290). Balance drifted from $6,883 MXN (opening) to $4,877 MXN (end of May).
Phase 2 — First capitalization (June 2025)¶
First meaningful activity:
| Date | Amount (MXN) | Counterparty | Memo |
|---|---|---|---|
| 2025-06-11 | 1,000 | JPMorgan Chase (Renfroe Family Holdings) | OWNER CONTRIBUTION — test transfer |
| 2025-06-24 | 95,000 | JPMorgan Chase (Renfroe Family Holdings) | OWNER CONTRIBUTION |
Phase 3 — Operating (July 2025 – present)¶
The account becomes the real operating vehicle for Casa Moksha's Mexican payroll and capex.
Inflows (~$1.361M MXN over 10 months)¶
| Month | Amount (MXN) | Memo |
|---|---|---|
| Aug 2025 | 100,000 | OWNER CONTRIBUTION |
| Sep 2025 | 100,000 + 300,000 | OWNER CONTRIBUTION |
| Nov 2025 | 300,000 | RELOAD OF SANTANDER ACCOUNT |
| Dec 2025 | 300,000 | RNIE FINES AND CINDY PAYO |
| Feb 2026 | 450,000 | FEB - APRIL OPERATING EXP |
Plus one non-JPMorgan inflow: - 2026-01-14 — $20,000 MXN from Jose Pablo Gonzalez Deleze via NVIO (Mexican fintech), "no concept" memo. Counterparty and purpose still unknown. On to-do list.
Outflows — recurring categories¶
- Payroll biweekly (quincena): Alfredo, Rosa Maria, Lucila, plus historical Daniel. Monthly ~$60-70K MXN. See
context/people.mdfor per-employee detail. - Property management: Miroslava — fixed $27,550/quincena ($55,100/month). Contractor-level.
- Vendor recurring: biodigestor treatment ($3,480/mo), Epsilon osmosis maintenance, Frigotek HVAC, sanitization, etc. See
accounting/vendor-mappings.md. - Capex (should be capitalized, NOT expensed): Don Sebastian palapa carpentry ($40K deposits ×2), Paola Maria water system enclosure ($20K+$13K+$16K), Geodrilling drain well ($19.5K+$8.4K), Epsilon osmosis install, Frigotek AC install, generator diagnostic + repair ($20K+$18.8K).
- Accounting fees to JME: $7,540 MXN/month routine + two $15,022 "Backdated Accounting" catch-up payments for Cindy Canto-era book cleanup (Jul + Sep 2025). Bank changed from Banregio to Hey Banco starting Feb 2026.
- SAT federal tax debits (CGO IMPTO FED TRANSF ELECT) — routine plus the Sept 3, 2025 batch of 25 back-tax debits.
- Bank fees — monthly PYME membership + IVA.
Corrected framing (important — prior version was wrong)¶
Earlier versions of this file claimed the account pattern meant "all operating cash is capital contributions from the US parent; no operating revenue recognized in Mexico." That framing was wrong.
The correct framing (Austin confirmed 2026-04-19):
Renfroe Hospitality Group recognizes all Casa Moksha guest revenue, regardless of which account it lands in. Revenue arrives through four channels intentionally: 1. Brex Casa Moksha: Dep (3529) — USD wires, PayPal, Coinbase 2. Santander MXN (this account) — for guests paying in local currency 3. PayPal (Casa Moksha) — payment processor 4. Historically: Austin's Wells Fargo personal 6248
The JPMorgan → Santander wires labeled "OWNER CONTRIBUTION" are Brex-autogenerated memos, not legally descriptive. The actual substance is intercompany settlement: Renfroe Family Holdings receives USD-denominated guest revenue on RHG's behalf (acting as collection agent), and periodically wires the peso equivalent to RHG's Mexican bank so RHG can fund local operations. On the books:
- RHG recognizes all revenue; records a receivable from RFH for amounts collected in the US
- RFH receives cash, books payable to RHG, settles via wires to Santander
- Wires to Santander MXN clear the intercompany payable — they are NOT capital contributions
This framing is defensible but needs an intercompany services agreement (RFH as collection agent for RHG) to be papered properly. Currently that agreement doesn't exist; pending counsel.
Reconciliation / Xero setup notes¶
- Santander Mexico does not appear to offer a direct Xero bank feed. Manual CSV import or third-party feed provider needed.
- IVA on bank fees needs its own COA line for Mexican return claimability.
- Intercompany inflows should NOT post to revenue. They should clear an intercompany receivable owed by RFH. Full Brex-side reconciliation table (8/8 inbound JP Morgan SPEI deposits matched to Brex outbound wires) is in
banking/brex.md"Wires out from Brex to Santander MXN" section as of 2026-04-20. - Payroll entries will come from JME's monthly deliverable — not reconstructed from bank outflows alone. The bank shows net payments to staff; IMSS and ISR withholdings are handled on JME's side.
- Casa Moksha capex should be capitalized on RHG's books as property improvements (building, water systems, generator, HVAC), not expensed. Austin has NOT raised this with JME yet — see
todo/for-austin.mdandtodo/for-advisors.md.
Cindy Canto era — context¶
Back-tax catch-up payments to JME (Jul 2025 $15,022; Sep 2025 $15,022) reflect JME fixing bookkeeping that wasn't done properly during former hotel manager Cindy Canto's tenure. The Sept 3, 2025 batch of 25 SAT federal tax debits (CGO IMPTO FED lines, totaling ~$14,450 MXN) were the SAT catch-up payments tied to that accounting cleanup. The Dec 15, 2025 JPMorgan wire memo "RNIE FINES AND CINDY PAYO" was previously inferred to include a "separation payout component" — that inference was wrong per Austin's 2026-05-09 correction (no payout was issued to Cindy). The wire's actual purpose is unresolved. The bookkeeping cleanup itself is downstream of Cindy's documented illegal acts (threats, illegal transfers of retreat-booking funds to her personal account, embezzlement) which are the substantive grounds for her removal. See context/people.md and legal/cindy-consignation-timeline.md.
Open items for this account¶
- Confirm Jose Pablo Gonzalez Deleze identity and payment purpose (Jan 14, 2026, $20K MXN)
- Confirm Cindy Canto departure was clean-papered — possible future liability exposure
- Obtain JME's most recent monthly ledger; verify revenue recognition pattern matches the intercompany framing above
- Verify JME is capitalizing the palapa / water system / generator / drain well work, not expensing
- Decide on bank feed mechanism for Xero (CSV import cadence vs. third-party feed)
- The Santander USD companion account (82-50113846-7) is dormant with $950 in pending penalties — see
banking/santander-usd.md