Question 1

Set up Cost of Goods (COGS)

Accepted Answer

What is Cost of Goods?

Q: Install the TrueProfit mobile app

<p>|| Before using the mobile app, make sure you've created a <strong>TrueProfit account</strong> to sign in the app. Read through <a href="/en/article/create-a-trueprofit-account-fz82zf/">this article</a> to see how to create your account.</p> <p>Once you've had your TrueProfit account all set, there are two ways to install the TrueProfit app to your smart phone:</p> <h3 id="scanqrcodeinapp">Scan QR code in-app</h3> <p>The QR code on the TrueProfit website is a quick way to sign in and install the app on the mobile app. Make sure you're signed in on the web app the click button "Get mobile app" on the top bar to open the QR code.</p> <p><img src="https://storage.crisp.chat/users/helpdesk/website/61f3f962f1727800/image_niyhkt.png" alt="How to find your QR code" /> <img src="https://storage.crisp.chat/users/helpdesk/website/61f3f962f1727800/image_ktvygj.png" alt="Getting the QR code to download the app, then sign-in" /></p> <p>Once you've downloaded the TrueProfit app to your smartphone, open the app then select <strong>Sign in with QR code</strong>. Next, scan the QR code again to sign in to your account on mobile.</p> <h3 id="findtrueprofitintheappstore">Find TrueProfit in the App Store</h3> <p>TrueProfit mobile app is available on both the <a href="https://apps.apple.com/us/app/trueprofit/id1568063007">iOS</a> and <a href="https://play.google.com/store/apps/details?id=io.trueprofit">Android</a> app stores for free download. You can click the links or search "TrueProfit" in the app store.</p>

Cost of Goods Sold (COGS) refers to the direct expenses you incur in purchasing or producing the products you sell. It includes the purchase cost of your inventory but does not cover additional costs like marketing or shipping.

For example, if you buy a book for $5 that you later sell for $15, the COGS for that book is $5.

Knowing your COGS helps in calculating how much profit you're actually making. It's the first step in setting prices that cover costs and generate profit, ensuring your business remains viable.

See How TrueProfit import your COGS upon installing.

Setup tutorial video:

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Understanding the "Set to Level" toggle

On the Cost of Goods page, the Set to Level toggle allows you to choose how your COGS settings are applied—either at the Variant or Product level.

Variant Level: Each variant of a product has its own COGS setting. When an order is placed, the COGS for the specific variant p

Question 2

Metrics Glossary

Accepted Answer

This article contains a list of metrics used in TrueProfit's reports. Use Ctrl+F to quickly find the term you're looking for.

Dashboard

| Metric | Definition | Formula | | ---- | | Orders | The total number of orders in the selected time range. | | | Units Sold | The total number of units sold in the selected time range. | | | Revenue | The total amount of money generated from sales of products or services before any expenses are deducted, also known as Total sales in Shopify. | Revenue = Gross Sales – Discounts – Returns + Taxes Collected + Shipping Charged | | Total Costs | 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 profit 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 th

Question 3

Changelog

Accepted Answer

Version 8.2

Release date: Feb 23, 2025

IMPROVEMENT:

Cost of Goods Page Updates: ****

Re-calculate product past orders & Bulk Actions button: Now shown upfront for easy access.
**Quantity break button: ** Updated look.
Filter, Import, Export: Moved to the "More options" (⋮) menu.****

Version 8.1

Release date: Mar 18, 2025

NEW:

Compass AI Assistant: Compass is your new AI assistant to help you maximize TrueProfit for your store. Read more about what it can do and how to start chatting with Compass in this article.

Version 8.0

Release date: Feb 26, 2025

IMPROVEMENT:

Social sign-in improvements: Streamlined sign in, sign up flow for consistency.
Loading speed: Improved the loading speed for stores with high number of products.

Version 7.9

Release date: Jan 16, 2025

NEW:

Alternative Sign-in options for your TrueProfit account: You can now connect your Google or Apple account with an existing TrueProfit account for quick sign-in anytime. Note that one Google/Apple account can connect with one TrueProfit account only. Click here to learn more.

Version 7.8

Release date: Dec 11, 2024

NEW:

Taboola Ads integration: Taboola Ads is now an available Marketing Channel integration. Connect your Taboola account with TrueProfit now

Question 4

Set up Shipping Costs

Accepted Answer

The Shipping Cost settings is where you can set up calculation rules for your store based on different zones and product groups in each zone. If you don't use any integration to sync shipping costs to TrueProfit, follow the steps below to start setting up Shipping Costs for your store.

You can watch this tutorial video to understand the Shipping Cost quickly:

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Calculation Settings

The rules you set in this setting will be applied as the default rules for all orders in your store. By setting up how you want to calculate shipping costs for items/variants or products in an order, the Orders Report will be calculated accurately for the Shipping Cost field.

To open the Calculation settings, click Settings in the top right corner of the Shipping Costs page.

In this page, there are two main settings: Calculation rules in an order and Multiply shipping cost per unit

Calculation rules in an order (for different products)

For orders with different products and variants, it is important to dete

Question 5

Set up costs for new stores

Accepted Answer

Setting up costs for your store is crucial to let TrueProfit accurately calculate your profit and expenses. Your cost settings will affect the Total Cost, Net Profit, Net Profit Margin, and more metrics.

To ensure accurate cost tracking, it is important to add all the costs currently incurred in your Shopify store using the available settings on TrueProfit, including Cost of Goods, Shipping Costs, Transaction Fees, Taxes Paid, and Custom Costs.

Setting up Cost of Goods

The Cost of Goods Sold (COGS) metric is one of the most important metrics for your store as it represents the direct costs associated with producing the products you sell. This includes expenses for materials, labor, and manufacturing that are directly tied to the production of goods.

By accurately calculating COGS, you can determine the gross profit margins, set competitive pricing, and understand the true cost of your inventory.

There are 3 ways for the app to get your COGS data:

If you set your product cost in the Cost per item section in Shopify's product settings, TrueProfit

Question 6

Install the TrueProfit mobile app

Accepted Answer

|| Before using the mobile app, make sure you've created a TrueProfit account to sign in the app. Read through this article to see how to create your account.

Once you've had your TrueProfit account all set, there are two ways to install the TrueProfit app to your smart phone:

Scan QR code in-app

The QR code on the TrueProfit website is a quick way to sign in and install the app on the mobile app. Make sure you're signed in on the web app the click button "Get mobile app" on the top bar to open the QR code.

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.

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