Hi Paul, Thank you for your feedback, it’s very helpful for me to clarify what your expectations are. Based on your input, I suggest structuring the support across the following areas: - Review and optimisation of the chart of accounts - Guidance on capitalisation and asset treatment in line with local regulations - Implementation of practical internal controls (payments, expenses, monthly close) - Full-cycle bookkeeping in QuickBooks, including bank reconciliations and transaction processing (subject to transaction volume and data availability), bill attached - Monthly financial review and reporting, along with ongoing financial advisory Proposed pricing (monthly): - Light (USD 800 – 1,000): Review & advisory only - Standard (USD 1,200 – 1,800): Monthly review and moderate operational support - Full support (USD 2,000 – 3,000): End-to-end financial operations, including bookkeeping, reporting, and controls Given the current setup, the multi-bank, multi-currency structure and the need to establish solid controls while actively managing financial operations, I would recommend the full support option, the initial level would be around USD 2,800 per month to ensure proper stabilisation. Once operations are running smoothly, we can review and adjust the level accordingly. Separately, regarding Lane, could you please confirm the scope of work for this? Once confirmed, I will coordinate with Lane to provide the 2026 data so we can proceed with the transition. Happy to discuss and refine this further based on your priorities. Best regards, Phuong Nguyen, ACCA Vào Thứ 3, 21 thg 4, 2026 vào lúc 16:41 Paul Bauer <pb@thenamkhan.com> đã viết: > Dear Phuong, > > Thank you for your response. Regarding the points you raised, here are my > thoughts: > > - Accounting Framework & Chart of Accounts: The framework is already > established, though we should look into optimizing or condensing the chart > of accounts where it makes sense. > - Capitalization Policies: In Laos, the regulations regarding depreciation > and asset recognition are relatively clear. I don’t expect much complexity > here in terms of defining what constitutes an asset. > - Implementing Controls: I agree this is necessary. Let's discuss further > what these controls will actually entail in practice. > - Financial Operations: This should include managing ongoing operations > such as proposing payments and identifying further optimization potential > within our processes. > > Regarding the budget, I don't have a fixed figure in mind. Instead, please > provide an overview of your pricing for different service levels. This will > allow us to evaluate which structure best fits our needs and the scope of > support required. > > Best regards, > > Paul Bauer > > > On Mon, Apr 20, 2026 at 9:09 AM Phương Nguyễn Thị Thanh < > thanhphuong12213@gmail.com> wrote: > >> Hi Paul, >> >> Thank you for your message and for outlining the next steps, I will >> proceed accordingly. >> >> I will firstly proceed with: A full review of the 2026 QuickBooks file; >> Setting up a structured Google Drive system; Preparing a detailed handover >> list in Google Sheets covering all key items and information required from >> Lane prior to her departure; >> >> Before we move further into the transition phase, I would like to align >> on the scope and structure of the ongoing role. >> The initial work has primarily focused on reviewing, cleaning and >> stabilizing the existing records. Moving forward, the scope will extend to >> establishing the accounting framework, defining capitalization policies, >> implementing controls, and overseeing ongoing financial operations, the >> scope is closer to a finance management function rather than standard >> bookkeeping. >> >> To ensure we structure this effectively from the start, could you share >> your expected monthly budget range for this role? This will help me propose >> a structure that aligns well with your expectations and the level of >> support required. >> >> Looking forward to your thoughts. >> >> Best regards, >> Phuong Nguyen, ACCA >> >> Vào Thứ 2, 20 thg 4, 2026 vào lúc 00:34 Paul Bauer <pb@thenamkhan.com> >> đã viết: >> >>> Dear Phuong, >>> >>> Following up on our recent conversation, I would like to proceed with >>> the next steps for the Namkhan accounting transition. >>> >>> As Lane is scheduled to depart around May 10, please parallel prioritize >>> a full review of the 2026 QuickBooks file. Let me know if any entries >>> require clarification; we will implement your proposed changes and >>> optimizations once Lane has left. >>> >>> To ensure a smooth transition to your management, we need to establish a >>> Google Drive structure where all expenses are uploaded with an English >>> cover sheet. Additionally, we must document the reconciliation process for >>> revenues and the Property Management System (PMS) to ensure the workflow is >>> clearly defined. >>> >>> Could you please prepare a handover list in a Google Sheet to facilitate >>> the transition? This should include all essential items and tasks we need >>> from Lane before her departure in May. >>> >>> Best regards, >>> >>> Paul Bauer >>> >>> On Fri, Apr 17, 2026 at 10:57 AM Phương Nguyễn Thị Thanh < >>> thanhphuong12213@gmail.com> wrote: >>> >>>> Dear Paul, >>>> >>>> I hope you are well. >>>> >>>> I would like to follow up our latest discussion of a potential >>>> collaboration regarding the accounting system at Namkhan. >>>> I just wanted to check in as I have not yet received any further >>>> updates or next steps since our call. Could you please let me know your >>>> thoughts or if there is anything you would like me to prepare or proceed >>>> with on my side? >>>> >>>> Looking forward to hearing from you soon, >>>> >>>> Best regards, >>>> Phuong Nguyen, ACCA >>>> >>>> Vào Thứ 3, 7 thg 4, 2026 vào lúc 16:13 Paul Bauer <pb@thenamkhan.com> >>>> đã viết: >>>> >>>>> you did not get the link ???? >>>>> >>>>> On Tue, Apr 7, 2026 at 9:36 AM Phương Nguyễn Thị Thanh < >>>>> thanhphuong12213@gmail.com> wrote: >>>>> >>>>>> Hi Paul, >>>>>> >>>>>> Yes 11 works for me, please send me the meeting link, >>>>>> >>>>>> See you then >>>>>> >>>>>> Vào Thứ 3, 7 thg 4, 2026 vào lúc 14:24 Paul Bauer < >>>>>> pb@thenamkhan.com> đã viết: >>>>>> >>>>>>> are we on for 11 ? >>>>>>> >>>>>>> On Mon, Apr 6, 2026 at 8:13 PM Paul Bauer <pb@thenamkhan.com> wrote: >>>>>>> >>>>>>>> Dear Phuong, >>>>>>>> >>>>>>>> Thank you for your response. Let's discuss this further during our >>>>>>>> call tomorrow. >>>>>>>> >>>>>>>> As a priority, my primary focus is establishing a reliable >>>>>>>> accounting system based on a USALI-aligned structure. The system needs to >>>>>>>> function stably and in near real-time. Once this foundation is effectively >>>>>>>> in place, we can address the other points you mentioned. >>>>>>>> >>>>>>>> With this setup, we will be able to generate all necessary reports >>>>>>>> from the ledgers, including the P&L and balance sheet. By using classes, we >>>>>>>> should be able to mirror the majority of the USALI requirements. >>>>>>>> >>>>>>>> Let's use this as the basis for our conversation tomorrow. >>>>>>>> >>>>>>>> Best regards, >>>>>>>> >>>>>>>> Paul Bauer >>>>>>>> >>>>>>>> On Mon, Apr 6, 2026 at 4:31 AM Phương Nguyễn Thị Thanh < >>>>>>>> thanhphuong12213@gmail.com> wrote: >>>>>>>> >>>>>>>>> Hi Paul, >>>>>>>>> >>>>>>>>> Thank you again for the detailed overview, this is very helpful, >>>>>>>>> and I fully understand the direction you’re aiming for, particularly in >>>>>>>>> building a clean and auditable structure to support a future M&A process. >>>>>>>>> >>>>>>>>> From what you described, this goes beyond accounting clean up and >>>>>>>>> is more about establishing a structured finance function, ensuring the >>>>>>>>> numbers are robust, consistent, and defensible in an audit or due diligence >>>>>>>>> context. >>>>>>>>> >>>>>>>>> Before proposing a formal structure, it would be useful to align >>>>>>>>> on a few key areas: >>>>>>>>> >>>>>>>>> - *2025 financials (and resulting opening position):* In >>>>>>>>> addition to the reconciliation work currently underway, the extent to which >>>>>>>>> you would like us to revisit and adjust 2025, particularly around >>>>>>>>> capitalization and asset recognition . >>>>>>>>> >>>>>>>>> - *Capitalization approach:* I understand the objective to >>>>>>>>> reflect long-term value through asset recognition; however, we will need to >>>>>>>>> carefully assess what is supportable under Lao regulations and audit >>>>>>>>> standards, as some development or brand related costs may need to remain >>>>>>>>> expense. >>>>>>>>> >>>>>>>>> - *Level of involvement:* whether you are looking for full >>>>>>>>> operational oversight (AP/AR, coordination, controls) or a review and >>>>>>>>> control layer on top of an internal resource. >>>>>>>>> >>>>>>>>> - *Reporting & performance focus:* the level of visibility and >>>>>>>>> analysis you would expect on a recurring basis (e.g. monthly close, GOP >>>>>>>>> tracking, cost optimization. >>>>>>>>> >>>>>>>>> From an operating model perspective, I would recommend designing >>>>>>>>> this to function effectively on a remote basis, with strong controls and >>>>>>>>> documentation flows in place. This typically provides better consistency >>>>>>>>> and scalability, particularly when preparing for audit or transaction >>>>>>>>> readiness. We can of course consider targeted visits if there is a specific >>>>>>>>> need, but I would suggest keeping the core process remote. >>>>>>>>> >>>>>>>>> Once we align on the above, I can propose a structure that best >>>>>>>>> supports your objectives. >>>>>>>>> >>>>>>>>> Best regard, >>>>>>>>> >>>>>>>>> Phuong Nguyen, ACCA >>>>>>>>> >>>>>>>>> Vào Thứ 2, 6 thg 4, 2026 vào lúc 00:21 Paul Bauer < >>>>>>>>> pb@thenamkhan.com> đã viết: >>>>>>>>> >>>>>>>>>> Dear Phuong, >>>>>>>>>> >>>>>>>>>> I would like to discuss a potential collaboration regarding the >>>>>>>>>> accounting system at Namkhan and provide context on our current business >>>>>>>>>> trajectory. Since the pandemic, we have transitioned from an eco-farm into >>>>>>>>>> a professional operation. We achieved a turnover of 700k in 2025 and are >>>>>>>>>> targeting 1 million in 2026 and 2 million by 2028. My goal is to build a >>>>>>>>>> compliant, documented asset for a future M&A process, which requires clean, >>>>>>>>>> auditable books starting from the 2025 financial year. >>>>>>>>>> >>>>>>>>>> Specifically, I want to ensure we properly activate assets on the >>>>>>>>>> balance sheet, including building site costs, brand IP, and long-term >>>>>>>>>> project expenses. We are currently incurring significant setup costs, and I >>>>>>>>>> want to capitalize these items rather than simply expensing them to >>>>>>>>>> accurately reflect our valuation and Gross Operating Profit (GOP). I would >>>>>>>>>> appreciate your guidance on what Lao law allows in this regard compared to >>>>>>>>>> US or European standards. >>>>>>>>>> >>>>>>>>>> I am currently working with my tax advisor in Laos to establish >>>>>>>>>> the 2025 opening balances for QuickBooks, as 2026 will be our first year of >>>>>>>>>> official reporting from the software. I intend to implement a structure >>>>>>>>>> aligned with USALI standards. >>>>>>>>>> >>>>>>>>>> Regarding operations, our system was unmaintained from August >>>>>>>>>> until January. While our current staff member, Lane, began using QuickBooks >>>>>>>>>> for 2026, I have concerns regarding auditability. Lane is departing in May, >>>>>>>>>> and as qualified local staff are difficult to find, I would like to >>>>>>>>>> transition to a cloud-based system managed by you. >>>>>>>>>> >>>>>>>>>> My vision is for a local staff member to handle on-site >>>>>>>>>> purchasing and daily document uploads for your real-time management. Under >>>>>>>>>> this arrangement, I envision the following: >>>>>>>>>> >>>>>>>>>> - Payments & Receivables: You would propose outgoing payments and >>>>>>>>>> provide outstanding receivable lists to our reservations department. >>>>>>>>>> - Payroll & Taxes: Salaries would be managed via HR, and VAT >>>>>>>>>> would be reconciled through our PMS and your invoice bookings. >>>>>>>>>> - Optimization: Once the system is stable, we would review bank >>>>>>>>>> fees, vendor lists, commissions, and food costs. >>>>>>>>>> - Site Visits: I suggest quarterly visits to Luang Prabang to >>>>>>>>>> reconcile books and discuss optimizations with the resort manager. >>>>>>>>>> >>>>>>>>>> I estimate this would require approximately two days of work per >>>>>>>>>> week. I see this role evolving into a CFO-level position focused on >>>>>>>>>> interpreting and optimizing numbers—specifically to eliminate the 3-4% GOP >>>>>>>>>> leakage currently lost through bank fees and high vendor costs, as well as >>>>>>>>>> addressing internal front-office errors that likely account for another >>>>>>>>>> 2-3% in lost revenue. >>>>>>>>>> >>>>>>>>>> Please let me know your thoughts on this potential engagement and >>>>>>>>>> how we might best structure a long-term partnership if interested - please >>>>>>>>>> keep between us until we knw where our discussion goes - >>>>>>>>>> >>>>>>>>>> Best regards, >>>>>>>>>> >>>>>>>>>> Paul Bauer >>>>>>>>>> >>>>>>>>>