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.
Hi, if you are stateside, I recommend a great assurance and tax accounting firm, Elliott Davis. If you need to discuss how to structure your business - call the Greenville,SC office and speak to Charles Duke (this is his wheelhouse). I specialize in identifying new revenue within the categories you have created. I'd appreciate the opportunity to review and strategize on a call. I have worked with several clients in the wedding space successfully.
Answered 6 years ago
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