Question 1

Changelog

Accepted Answer

Version 6.2

Release date: Aug 21, 2023 IMPROVEMENT:

Added new metrics to Product Analytics: Ad Spend, Total Cost, Net Profit, Net Profit Margin, Net Profit on Ad Spend to track product performance with more data.
The notifications menu now save all completed progresses for 72 hours, plus a Clear all button to manually clear notifications. NEW:
Introducing the TrueProfit Parameter Generator extension that helps you quickly create URL parameters when running ads.

Version 6.0 & 6.1

Release date: Jul 24, 2023

IMPROVEMENT:

Added minor UI & UX improvements
Added a Total row at the bottom of the Product Analytics report to show the sum of the metrics in the table, depending on the time range you choose. ANNOUNCEMENT: TrueProfit stopped supporting the Amazon platform (beta version). Read more

Version 5.9

Release date: Jun 27, 2023 IMPROVEMENT:

All cost metrics are now displayed as a negative value on TrueProfit to help you easily track your costs and income.

Version 5.7 & 5.8

Release date: Jun 5, 2023 NEW:

Introducing TrueProfit Pixel for accurate data tracking and enhanced product analytics report.
The new Enterprise plan is released with an unlimited order count and no extra order fee, with an annual subscription.
New Taxes & Duties feature for store owners to [set up the taxes](/en/article/taxes-duties-how-to-set-up-and-manage-yo

Question 2

How to Install and Use the TrueProfit Mobile App

Accepted Answer

How to install the TrueProfit Mobile App

| To use the mobile app, you need a TrueProfit account.

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

Scan QR code

If you are signed in to your TrueProfit account, you can scan the QR code with your smartphone to download directly from the app store.

Getting the QR code to download the app and quick sign-in

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

Sign in to your TrueProfit mobile app

If you've been signing in using your Shopify Domain, here's how to create a new TrueProfit account. You can then use this account to sign in to your mobile app or use the QR code like above.

![The Login Interface](https://storage.crisp.chat/users/helpdesk/website/61f3f962

Question 3

Product Cost | 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}Adding Cost of Goods Sold (COGS)

By default, TrueProfit syncs Cost per item from Shopify upon installing.

Additionally, there are 3 other ways to import COGS into TrueProfit: Estimating COGS, entering manually or uploading a .csv file.

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 Calculation > Product Cost > 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 specif

Question 4

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 Calculation > Shipping Cost

Follow this tutorial.

${youtube}Set up your shipping costs

Calculation settings

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

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

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

For orders with multiple different products, the 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, the final shipping cost is $7. If you choose Use the highest shipping fee, the final shipping cost is $4.

Default shipping rules

*This is where you set shipping fees for all products based on geography. Please note: you can also set shipping cost for each state in United States by ticking option "United States" -> select state.

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

*Please note: you can also set shipping cost for each state in the United States by ticking option

Question 5

Shopify 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 orders completed in the time period | | | Units Sold | The total number of unit sold in the time period | | | Revenue | The final income before any expenses are subtracted, also known as Total sales in Shopify. | Revenue = Gross Sales – Discounts – Refunds + Taxes Collected + Shipping Charged | | Total Cost | The sum of all expenses occurring during the operation of your business. | Total Cost = Cost of Goods Sold + Handling Fees + Shipping Cost + Ad Spend + Transaction Fees + Custom Spend + Taxes Paid | | Net Profit | The amount of money you gain after all costs are deducted. | 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 Profit | | Gross Profit = Revenue + Tips + Gift Card Sales - COGS - Shipping Cost - Transaction Fees - Handling Fees | | Gross Profit Margin (%) | | Gross Profit Margin = (Gross Profit / Revenue) * 100 | | Total Ad Spend | Total cost for advertising pulled from ads platforms. TrueProfit currently supports:

Question 6

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}Setting up your costs

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