Product Cost (COGS)
Setting up Cost of Goods (COGS) for all products
In this article: What is Cost of Goods? How to set up COGS in TrueProfit Editing COGS for a product or variant Adding and Managing Historical COGS What is Cost of Goods? Cost of Goods Sold (COGS) or Product Cost is basically the total amount of money you spend acquiring the products you sell online. It's like your "wholesale" priFeaturedAdding Handling Fees by products in your store
Handling fee include all the expenses that might arise in your business, no matter how minimal it seems. By default, Handling Fees are counted as 0 until you make an edit. All handling fees will be calculated in the Product Cost and Total Cost, which you can view in the Product Dashboard. What is Handling Fee? This is the amount that covers all expenses regarding fulfillment, such as warehouse storage cost, shipment cost, and packing cost. Not every product has a handling fee, but onceSome readersSetting up Quantity-based COGS by products
If you're looking for how to set up COGS in TrueProfit, check out the Setting up Cost of Goods (COGS) for all products article. Quantity-based COGS helps you manage different cost ranges for a product or a variant instead of using a fixed COGS. This feature is available in the Ultimate and Enterprise plan only. If you don't have it, please upgrade your plan (https://app.trueprofit.io/pricingFew readersAdding and managing COGS by Zones
Managing COGS by zones for your store COGS zones let you create different zones to manage your COGS based on the delivery destinations for specific product. Each zone will apply the COGS you set to the selected products only. The default "Worldwide" zone will apply your settings to all countries not added to any other zone. How to create new COGS zone Click Add zone In thFew readersHow to import COGS & Handling Fees in bulk with .csv file
In the Cost of Goods page, you can use the Export feature to update your product's COGS and Handling Fees in bulk, then Import it back into TrueProfit. This comes in handy when you have hundreds of product and need a way to copy/paste product costs quickly. Exporting all product costs in your store In the Cost of Goods page, you will find the Export button at the top left corner of the table. (https://storage.crisp.chat/users/helpdesk/website/61f3f962f1727800/image13035nSome readers
Shipping Cost
Adding and managing Shipping Costs
Once you've set your shipping calculation settings and specific shipping costs for different regions or products in your store, TrueProfit can calculate your costs more correctly. If you are using a shipping provider to ship your orders, please check out this article to see how to connect them with TrueProfit. In the shipping costs page, there are 3 main sections: Calculation Settings GeFeaturedHow to add shipping platforms and sync your Shipping Costs
Please note that before connecting a new shipping platform, you must have it already integrated with your Shopify store. At the moment, TrueProfit supports integrations with 6 shipping platforms: Shippo ShipStation Shipwire ShippingEasy ShipBob ShipheroSome readersSetting up weight-based Shipping Costs
Setting up Weight-based Shipping Costs helps you calculate the shipping cost based on order's weight accurately. The weight of product will be pulled from your Shopify admin. Setting shipping cost by weight is currently available on our Advanced and above only. Setting up Weight-based Shipping Costs In your Shipping Cost settings, you can set the Weight-based Shipping Costs in the General Shipping Profiles. Read more about setting up Shipping Cost in this article (https://help.trueprofit.io/Few readers
Ad Spend
How to add Marketing Channels and sync your Ad Spend
If you run ads on online marketing channels like Facebook, TikTok, Google, etc., make sure to connect them with TrueProfit to sync ad spend automatically. At the moment, TrueProfit is supporting ad spend sync from Facebook, Google, TikTok, Snapchat, Pinterest, Microsoft (Bing), Amazon, and X (Twitter). How to connect your marketing channelSome readersHow to get Revenue (UTM) data for the Ad Spend by Channel chart
The Revenue (UTM) is pulled from the orders on Shopify report that have UTM campaign source. That's why it is important to ensure your ad campaigns have UTM source in the URL for tracking on Shopify and TrueProfit. Please refer to the Shopify's articles for more information about UTM source: How to set up Conversion tracking on Shopify: https://help.shopify.com/en/manual/orders/conversion-summaFew readersSetting up Custom Rules to sync ad spend by campaigns
The Custom rules feature in Marketing Channels is where you can set up filters to sync ad spend from campaigns that match your rules only. Setting up rules helps you include or exclude the exact campaigns in your ad account to get the correct ad spend for your store. When you add the keywords to include or exclude ad campaigns, TrueProfit will filter and sync ad spend by campaign name according to your rules.Few readers
Other Costs
Adding Transaction Fees and Processing Fees for your payment gateways
What is Transaction Fees? If you use one or more third-party payment providers for your Shopify store, it will incur Processing Fees and Transaction Fees. For example, if you are using PayPal US, the transaction fees for check outs are 3.49% + fixed fee. The rate between Paypal, Stripe and other gateways can be different. Shopify also charge an additional fee for using external gateways other than Shopify PaFeaturedHow to set up and manage Custom Costs
Custom Costs is a feature for you to add more costs to TrueProfit manually. As a seller on Shopify, there might be many different kinds of costs that incur in your store, for example Shopify subscription, KOL/influencers, or even Ad Agencies costs. Basically, any costs that don’t fall into other existing categories in TrueProfit can be created and customized in the Custom Costs feature. In this article: How to set up Fixed Costs How to set up Variable CoSome readersHow to edit orders in Orders Report in bulk
To edit the Shipping cost, Total COGS, and Handling fee at once, you can use both Import and Bulk edit features on the Order Report page. Depending on the number of orders you want to edit, you can choose a feature that best fit your need. Exporting and Importing Orders Report Choose the date range that includes the orders you want to edit costs for 2. Click Export to downlFew readersSetting up and managing Taxes Paid costs for your store
The Taxes Paid page is where you can set up the tax costs you pay to your government. Taxes paid are considered a cost to your business. Once taxes are set up in TrueProfit, you can start tracking all your costs more accurately and easily. What are the differences between Taxes Collected and Taxes Paid in TrueProfit? Taxes Collected is the amount you charge in each order to your customer; it is calculated as an income. TrueProfit will pull this metric from your Shopify Admin settinFew readersSetting up Calculation Preferences for refunded orders
When an order is unfortunately refunded, there are two ways you can calculate the refunded amount for your store on TrueProfit: Calculate the Refund on the date the order is created or on the date the order was refunded. By default, all refunds will be calculated on the date the order is refunded. How to change the setting for calculating Refunds for your store In the Store Settings section, click on Calculation Preferences. On this page, you can find the Profit Calculation RuFew readers
FAQ
FAQ: What if my store currency differs from my ad account currency?
If your Shopify store and Facebook/Google ad account(s) use different currencies, TrueProfit will automatically convert everything to your store currency. The exchange rates are updated daily and based on data from openexchangerates.org. In case you want TrueProfit to display a different currency, choose the currency to be displayed on the top right corner.Few readersFAQ: Can I import shipping settings from Shopify?
No, shipping rates in Shopify and shipping costs in TrueProfit are different. Shipping rates in Shopify are the amount you charge customers for shipping, while shipping costs in TrueProfit are the costs you need to pay in order to deliver your products.Few readersFAQ: How can I set shipping cost as 0 (free shipping)?
You can set shipping cost as 0 in the General Shipping Profiles. To make sure your changes in shipping cost also applies to past orders, click Re-calculate past orders.Few readersFAQ: How do I change costs in orders in the past?
All new changes to COGS, shipping and transaction fees will take effect immediately, but they won't affect your previous costs in past orders. Should you want to also update those cost in the past, simply follow this: Apply new COGS to all orders (past and future) In Cost settings COGS, under each product you will find a button called Recalculate Product Profit. First enter the new cost in the COGS field, then click on that button to apply new COGS to all orders involving this productFew readersFAQ: What if I can't connect with Google Ads?
Go to this link https://myaccount.google.com/permissions, find the app TrueProfit and choose Remove access. Then in TrueProfit, visit Cost settings >Google ads >Connect to reconnect with Google ads.Few readersFAQ: How can I remove deleted products that still show in COGS?
Even when you've removed a product/variant, it might still relate to some orders in your store. Therefore we have to handle them manually. Please contact us for manual support and we'll be glad to help.Few readersFAQ: How do I change sale prices in TrueProfit?
Sale prices are pulled in automatically from Shopify. In case you need to make changes to sale prices, you'll have to do it on Shopify dashboard. TrueProfit will then update accordingly.Few readersHow to set up custom costs for specific orders using order tag
You can set up Custom Costs for specific orders in your store using Order tags on Shopify. Learn more about Order tag on Shopify here. Note that this feature is only applicable for Metric-based Custom Costs, as TrueProfit with deduct the custom cost from the order's revenue. How to create custom costs for selected orders Make sure you've created an order tag on your Shopify Admin and applied it to the orders of your choiceFew readers