Shipping Cost and Net Profit
Report Toaster has introduced Shipping Cost into our dataset, which allows us to calculate net profit for an order.
Shopify Shipping is a very useful and popular service that merchants use to buy and print shipping labels from different providers at discounted rates.
If you are using Shopify Shipping, then normally you can access this data from the Shopify admin. The issue is that while the cost of the label is actually displayed on Shopify's Order Detail page, it's buried in the events section. There is therefore no way within Shopify to easily report on this data.
However with Report Toaster, you can track the shipping costs for labels created with Shopify Shipping and include them on order and sales reports. Now merchants can measure their profit/loss on shipping and know when they need to make adjustments to their shipping prices.
Better yet, with the addition of this new feature, we can now track net profit for an order:
Net Profit: Calculated as gross profit +
(shipping price - shipping cost) - transaction fees.
For example, if your gross profit is $50, shipping price $8, shipping cost $5 and transaction fees $1.80, then net profit (calculated as $50 + ($8 - $5) - $1.80) would be $51.20.
Net Profit Margin: Calculated as (net profit /
net sales) * 100.
For example if your net profit is $51.20 and your net sales is $94, then your net profit margin (calculated as ($51.20 / $94) * 100) would be 55%.
For most merchants, this represents a complete picture of their profit for an order.
Note - Currently these fields are only supported for usage with the Shopify Shipping service. If you purchase your shipping labels from another provider, feel free to contact us to discuss integration possibilities with your chosen service.
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