Q: How often do you think it is wise for us to calculate our net profit to track if our business is profitable
A: Monthly. A business should be producing a basic monthly report that include your profit and loss statement
Q: Are there apps or software that can help us track our cash flow effectively, I know of wave app but that is the only one I know for now?
A: There is Wave, Cloud Books, Zoho Invoice, SlickPie
Q: Please how do we know the percentage of our profit to pay ourselves as salary monthly
A: You have to determine that yourself. How is your business doing? Can you afford your salary from the business now? Answering those questions will help you in determining what to pay yourself
You can follow Mrs. Yemi on IG @finance_for_moms she also has a telegram community: https://mailchi.mp/ea15e6eadf24/finance4moms