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Question

I'm a sole proprietor with a DBA for an ecommerce brand in the wedding space that serves men. I'm launching another brand in the same space that will serve women in the same way.

Everything mostly being identical (marketing, expenses, COGS). Should I get a DBA for the new brand & use the same bank account for both? How should I handle tracking P&L/performance/accounting for each one?

I also have a second bank account from a previous unrelated project that's just sitting there with money leftover from that project.

Should I consolidate everything?

I'm currently tracking spending/budgeting in YNAB, which has been great so far.

My structure is a bit of a mess and I'd be looking to go into further detail on a call.

Answer

Rushabh Shah answered

Hi,
You should consider implementing Xero accounting software and use class tracking to track profits per business division.
See this:
https://www.xero.com/blog/2016/10/side-by-side-xero-tracking/

Get in touch at hello@meruaccounting.com we shall be glad to answer your specific questions free of cost.

We are a Firm of chartered accountants that specialize in bookkeeping for clients globally.

Cheers
Rushabh