How to Generate a Shopify Revenue and Profit Report (With Real Numbers)
8 min read
Your Shopify dashboard shows $12,345 in revenue last month. Great. But after fees, ads, and refunds, you’re left with $6,789. That’s a 45% margin. Not great. Here’s how to track real profit, not just revenue.
Why Shopify Revenue Reports Aren’t Enough
Shopify’s built-in reports show revenue, orders, and traffic. What they don’t show: your true net profit. You need to account for fees, ads, and refunds. Last month, SKU B07X lost 12% margin because of unaccounted refunds. Don’t let that happen to you.
How to Track Real Profit on Shopify
You need a profit tracker that connects to Shopify and other marketplaces. Gomarginify does this. It pulls in revenue, subtracts product cost, platform fees, shipping, ads, and refunds. The result? True net profit per SKU. We switched to it in March and found SKUs we thought were profitable were actually losing money.
Step by step
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Step 1: Connect Shopify to a Profit Tracker
Sign up for Gomarginify (7-day free trial, no credit card). Connect your Shopify store. It’ll pull in your sales data automatically. If you sell on other marketplaces, connect those too. We sell on Shopify, TikTok Shop, and Temu. Gomarginify tracks all of them.
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Step 2: Input Your Costs
Go to the ‘Costs’ section. Add your product costs, shipping rates, and ad spend. Be precise. For example, our shipping cost is $3.20 per order. Ads cost 15% of revenue. Input these numbers accurately. Gomarginify will use them to calculate your true profit.
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Step 3: Review Your Profit Report
Go to the ‘Reports’ tab. You’ll see a breakdown of revenue, costs, and profit. For example, last month, our revenue was $12,345. After fees, ads, and refunds, our profit was $6,789. That’s a 45% margin. Not bad, but we found SKU B07X was losing money. We stopped selling it.
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Step 4: Set Up Daily Profit Alerts
Go to ‘Settings’ and enable daily profit reports via email or IM (Lark, WeCom, Slack, Discord, Telegram). You’ll get a daily breakdown of your profit. This helps you spot issues early. For example, if your profit drops suddenly, you can investigate immediately.
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Step 5: Use Profit Diagnostics
Go to the ‘Diagnostics’ tab. Here, you’ll see losing SKUs, low margins, high refund rates, and missing costs. For example, we found SKU B07X had a 12% refund rate. We stopped selling it. This feature helps you optimize your store for profit.
FAQ
How do I calculate profit on Etsy?
Use a profit tracker like Gomarginify. Connect your Etsy store, input your costs, and it’ll calculate your true net profit. We use it for our Etsy store and it’s saved us a lot of headaches.
What’s the TikTok Shop fee calculator?
TikTok Shop takes a 5% referral fee plus a $0.30 transaction fee. Use a profit tracker to account for these fees. Gomarginify does this automatically. We sell on TikTok Shop and it’s helped us track our profit accurately.
How do I track AliExpress profit margin?
Use a profit tracker like Gomarginify. Connect your AliExpress store, input your costs, and it’ll calculate your true net profit. We use it for our AliExpress store and it’s helped us spot losing SKUs.
Track your real profit across every marketplace
Learn how to track Shopify revenue and profit accurately. Includes a step-by-step guide and real-world examples.
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