Payment Gateway Transaction Fees
Report Toaster has introduced Transaction Fees into our dataset, which allows merchants to understand the NET amount earned from each sale.
Every time a customer places an order online, a merchant is accepting payment. Shopify allows payments to be accepted through Shopify Payments or a number of third-party payment providers or gateways. Here is a good article about getting paid for Shopify sales.
Regardless of which payment provider is chosen, the merchant will be responsible for fees to the provider for each transaction. The transaction fees are dependent on the payment provider itself, but normally include a flat fee and then a percentage of the sale. For Shopify Payments, PayPal, Stripe, and Authorize.NET the flat fee is 30 cents per transaction plus 2.9% of the purchase.
For example, if a merchant makes a sale via PayPal for $100, then the transaction fee (calculated as (100 * .029) + .3) is $3.20. There may be additional charges for currency conversions and other considerations on international sales.
Shopify reports do not expose these transaction fees to merchants. Instead, a merchant must reference their payment provider's system for payouts and associated fees. Meaning there is no single report that can provide the NET amount earned from each sale. This is important when accounting and to calculate an overall profit margin.
Luckily, Report Toaster is reporting transaction fees. We are currently including fees for payments processed via Shopify Payments and Paypal, with plans to add more payment providers in the future.
Below is a list of reports where transaction fees can be found.
- Finance Detail
- Shopify Payout Reconciliation
- Successful Transactions
- PayPal Transactions
- Gateway Transactions
- Transactions by Gateway
- Transactions by Gateway Over Time
Whats New? - November 2023
It's the busy holiday season, but even so we have a couple of great new features to show off this month. Let's take a look! Simple Bundles 2.0 Back in February, we announced our partnership with Simple Bundles which enabled us to provide reports for ...
Frequently Asked Questions (FAQ)
The following is a set of Frequently Asked Questions from users of Report Toaster: I'm stuck! How do I get help? Well don't panic - our dedicated support team is always here to help. Chat The best way to get in touch is via our chat widget in the ...
Premium Reports - Gift Card / Credit Card Transactions
Gift Card / Credit Card Transactions These reports are used for looking at a subset of payments, separating out those that are made with a Gift Card or Credit Card and supplying the relevant details. As Premium Reports, these are available on all ...
Premium Report - Shopify Payout Reconciliation
Shopify Payout Reconciliation For merchants who use Shopify Payments, you might be familiar with Shopify's Payout report. This report is used to sее the amounts that Shopify deposits into your bank account each Payout Date (usually daily). You can ...
Why Aren't My Reports Matching Shopify? - Part 1
We often get questions about Report Toaster reports not matching numbers seen in Shopify. As you might expect, our reports should match Shopify exactly when comparing compatible data. Below are some tips for troubleshooting data that seems to be ...
Didn't find what you were looking for in our knowledge base? Click here
to suggest an article, and we'll try to put something together for you.