Question 1

Setting up Cost of Goods (COGS) for your products

Accepted Answer

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" price, not including things like marketing, overhead, or shipping.

For example, if you sell a t-shirt for $20 and it cost you $8 to buy from a supplier, your COGS for that t-shirt is $8.

Tracking COGS accurately helps you calculate your profit margin: Remember, your profit is the difference between your selling price and your COGS. Understanding your COGS helps you set competitive prices and ensure you're actually making money on each sale.

See How TrueProfit import your COGS upon installing.

What's included in the Cost of Goods settings?

1. COGS Zones

COGS zones let you create different zones to manage your COGS based on the delivery destinations for specific product. Each zone will app

Question 2

Metrics Glossary

Accepted Answer

In this article, you'll find a list of metrics used in TrueProfit Profit Analytics and Product Analytics. Quickly search for the term you want using Ctrl+F.

A. Metrics in Dashboard

| Metrics | Definitions | Formulas | | --- | --- | --- | | Order Count | The total number of completed orders in the selected time range. | | | Units Sold | The total number of unit sold in the selected time range. | | | Revenue | The final income before any expenses are subtracted, also known as Total sales in Shopify. | Revenue = Gross Sales – Discounts – Returns + Taxes Collected + Shipping Charged | | Total Cost | The sum of all expenses in the selected time range. | Total Cost = Cost of Goods Sold + Handling Fees + Shipping Cost + Ad Spend + Transaction Fees + Custom Spend + Taxes Paid | | Net Profit | The profit you make after deducting all costs in your store. | Net Profit = Revenue + Tips + Gift Card Sales - Total Cost - Taxes Collected | | Net Profit Margin (%) | Your business's profitability when comparing net income to sales revenue. The higher the margin rate, the more profitable you are for each dollar spent. | Net Profit Margin = (Net Profit / Revenue) * 100 | | Gross Sales | Gross sales is pulled from your Shopify store data. The product price for this equation is the price before taxes, shipping, discounts, and returns. | | | Gross Profit | The profit you make after subtracting the costs of producing and distributing your products. | Gross Profit = Revenue + Tips + Gift

Question 3

Product Analytics Overview

Accepted Answer

The Product Analytics dashboard provides details about your products and their sales performance. Product Analytics is available in the Advanced plan and above.

From version 5.8 onwards, TrueProfit released Product Analytics v.2 with improvements in both data tracking and analytics for all products in your store. As Google stopped the service of Google Analytics UA on July 1, 2023, this new version of Product Analytics uses TrueProfit Pixel for performance tracking.

Prerequisites:

To enable Product Analytics, you need to complete the following steps:

1. Authorize permissions for TrueProfit Pixel on Shopify Admin

As TrueProfit Pixel is a new feature, we need your permission to have access to data tracking. This helps the app track more accurately with more metrics relating to your product's performance.

2. Enable TrueProfit Tracking extension from your store’s Themes settings

TrueProfit Tracking is an app embed developed to help you track customer events easily on your store's website. To enable the extension, click Go to enable in your app, search for TrueProfit Tracking then toggle it on. Or follow the manual instructions below

Question 4

Manage Transaction Fees for your store

Accepted Answer

How to know if you have Transaction Fees in your store

Transaction Fees, or Third-party transaction fees, are charges that apply to each transaction when you use a third-party payment provider to take customer payments on your Shopify store. Besides that, some online payment providers also charge Processing Fees for your store on each order. In TrueProfit, you can manage both Transaction Fees and Processing Fees in the Transaction Fee page.

The Transaction Fees that Shopify charges you for using external gateways will depend on your Shopify subscription plan. This is between 0.5% and 2% as stated in their pricing:

Shopify charging additional fees for external gateways

Adding Transaction Fees in TrueProfit

When you open the Transaction Fees menu, you can find the settings to add new fees and payment gateways for your stores. We've pre-filled all the default fees for your store, make sure to review the fees based on your location, payment provider, and Shopify plan.

Adding more Payment Gateways

In addition to the 3 default payment gateways (PayPal, Stripe, Shopify Payments), you can add other gateways in the Transaction Fees settings if you are currently using them in your Shopify admin.

Click Add Payment Gateway on the top right corner

![](https://storage.crisp.chat/users

Question 5

Changelog

Accepted Answer

Version 7.5

Release date: Oct 23, 2024

IMPROVEMENT:

Onboarding process: Optimized the onboarding instructions for new users to help them get familiar with the app more easily.
Bug fixes: Fixed bugs for the CJ Dropshipping integration.

Version 7.4

Release date: Oct 3, 2024

NEW:

Bulk actions in Cost of Goods: Now you can select multiple products or variants at once and perform bulk actions to quickly update COGS for your orders. The bulk actions include Change source, Edit COGS, and Edit Handling Fees. Read more IMPROVEMENT:
Sync COGS from CJ Dropshipping by Zone: From this update, the COGS values from CJ Dropshipping will align with your COGS Zone settings. This means if a product's delivery location from CJ Dropshipping matches one of your zones, the COGS for that product will be updated only in that zone.

Version 7.3

Release date: Sep 10, 2024

NEW:

Dropshipping platforms integrations: If you are a dropshipping merchant, specifically dropshipping from the CJ Dropshipping platform, you can now connect your account as a source to sync data such as order details, COGS, and shipping cost for each order. After connecting CJ Dropshipping to TrueProfit, you can find the synced order data in the Orders Report page

Question 6

How to install and use TrueProfit's Mobile App

Accepted Answer

How to install the TrueProfit Mobile App

| Before using the mobile app, make sure you've created a TrueProfit account to sign in the app.

There are two ways to find TrueProfit app on the app stores:

Scan QR code

If you are signed in to your TrueProfit account, click button "Get mobile app" on the top bar to scan the QR code using your smartphone to open the download links quickly.

How to find your QR code Getting the QR code to download the app, then sign-in

Once you've downloaded the TrueProfit app to your smartphone, open the app then select Sign in with QR code. Next, scan the QR code again to sign in to your account on mobile.

Find TrueProfit in the App Store

TrueProfit mobile app is available on both the iOS and Android app stores for free download. You can click the links or search "TrueProfit" in the app store.

![TrueProfit is now available on both app stores](https://storage.crisp.chat/users/helpdesk/website/61f3f962f1727800/group-1000002495_wr09pc.p

Featured & Frequently Read Articles

Browse All Categories