Question 1

How to add Cost of Goods Sold (COGS)

Accepted Answer

Cost of Goods Sold (COGS) or Product Cost is essentially one big part of your total costs. Simply put, COGS of one product is how much it costs you, as opposed to how much you charge customers (Sales price).

With TrueProfit, you can manage your COGS easily.

Follow this video tutorial or read below for instructions.

${youtube}Set up COGS

There are 3 ways to import COGS into TrueProfit: Estimating COGS, entering manually or uploading a .csv file. By default, TrueProfit also syncs Cost per item from Shopify upon install.

Priority of the importing method is as follow:

Estimated COGS < Cost per item (from Shopify) < CSV file import AND manually imported COGS

1. Estimate COGS

For a store with many products, it can take a lot of time to enter all COGS. Luckily, you can roughly estimate COGS based on Sales price.

Go to Cost Settings > COGS > Estimated COGS Rate. You'll find a slider representing COGS as the percentage of Sales price. For example, if you define the percentage as 20%, sales price is $100, then your COGS is $20.

What if there are some products that don't follow this rule? You can then use the second method to specifically adjust them.

2. Enter COGS manually

Old school but accurate. You can add COGS for each product (or variant). For winning products, we strongly advise that you specifically enter COGS to g

Question 2

How to manage Shipping costs

Accepted Answer

With shipping cost, you can set advanced rules or stick to the basic settings, depending on your business model. Visit Cost settings > Shipping.

Follow this tutorial or read below.

${youtube}Set up Shipping costs

Calculation settings

First, set your default rules to calculate shipping cost for every order. You'll see these options:

Multiply with quantity for the same product: Applies when shipping fee is proportional to product quantity in an order.

For example, an order has the same 2 products and shipping fee is $3 per item. If enabled, final shipping cost is $6. If disabled, final shipping cost is $3.

For orders with multiple different products, total shipping cost will be either the highest shipping fee or the sum of each product's shipping fee in an order.

For example, an order contains item A (shipping fee $3) and item B (shipping fee $4). If you choose Sum shipping fees of each product, final shipping cost is $7. If you choose Use the highest shipping fee, final shipping cost is $4.

Default shipping

This is where you set shipping fees for all products based on geography.

Add new > Enter Zone name (optional) > Choose the countries or regions > Set shipping fee > Save.

Note: if you also set custom shipping fees for specific products, custom shipping will be prioritized over default shipping.

${youtube}Default Shipping cost

Custom shipping

This is where you s

Question 3

Intro to TrueProfit #1: Cost Settings A-Z

Accepted Answer

TrueProfit can help you track profit and all kinds of financial metrics in real time. In order for us to show you the correct numbers, first you need to properly set up your cost structure. Here's how to do it.

${youtube}Intro to TrueProfit: Cost settings

Or jump to the section you want to explore:

Question 4

How to download and install TrueProfit Mobile App

Accepted Answer

Why the mobile app will offer you great help

Once installed, TrueProfit Mobile app will sync the real-time metrics from the usual web app. You can check your numbers on the go, without the burden of carrying a laptop all day long.

How to install & sign in

Follow this video or read below for instructions.

${youtube}Download & log into Mobile app

Download

Visit m.trueprofit.io on your phone. To download the app, tap on the popup Add TrueProfit to Home screen (Android) or open Options and select Add to Home Screen (iOS).

Sign in

Next, open the app. On the login screen, enter your Shopify domain.

Then open the web app (on your desktop), click on the dropdown menu next to your store name. Select Mobile Login Code. You'll find a 6-digit code, which will be changed every 60 seconds. Copy this code to the Login code field on the app.

You're now logged in.

Question 5

How to sync Facebook Ad Spend

Accepted Answer

Follow along this video tutorial or read below for instructions.

${youtube}Sync Facebook ad spend

Go to Facebook > Integrate Facebook > Connect. You will be required to log in to Facebook. After that you'll be redirected to TrueProfit dashboard. You can then choose the ad account(s) relating to your store. Synchronize.

It can take a while to pull in all the data from Facebook.

Question 6

How to manage Custom Spend

Accepted Answer

Can you add other costs like Shopify subscription, Instagram influencers, software or rents? Sure. Here's how easy it is.

${youtube}Set up Custom spend

Go to Custom Spend > New cost. Enter the cost name & amount of money.

Next, choose how often the cost recurs in Frequency. For example, your Shopify subscription is charged once every month, so choose Monthly.

Select the start date and end date. If the cost still lasts until now, tick On-going.

Click Create.

That custom cost will now appear on the list and will be added to your total costs.

Custom spend

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