Question 1

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.

Inside the TrueProfit mobile app

How to install & sign in

Download

Find TrueProfit in the App Store on your phone (iOS, Android) and download it as you would do with other mobile apps.

TrueProfit is now available on both app stores

Sign in

In order to use the mobile app, you need a TrueProfit account. Simply get on the web app and create it with your email*. Then you will use this account to sign in to the web and mobile apps, and manage all the stores you own.

*To know how to create a TrueProfit account, read this help article.

Next, open the app. On the login screen, enter your TrueProfit account (including email and password).

The Login Interface

Alternately, you can sign in to the mobile app with QR code.

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Question 2

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

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 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 t

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 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 below.

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, 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 United States by ticking option "United States" -> select state.

Question 5

Metrics Explained

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 Profit Analytics

1. Revenue

The final money you receive from customers, also known as Total sales in Shopify.

| Revenue = Gross Sales – Discounts – Refunds + Taxes + Shipping Charges Note: taxes and shipping are the money you charge customers.

2. Total cost

The sum of all expenses occurring during the operation of your business.

| Total cost = Cost of goods sold + Shipping Cost + Ad Spend + Transaction Fees + Custom Spend

3. Net profit

The amount of money you gain after all costs are deducted.

| Net profit = Revenue + Tips + Gift Card Sales - Total cost - Taxes

4. Net profit margin (%)

The measurement of your business's profitability. The higher the number, the more profitable the company. A low profit margin might indicate a problem that is interfering with profitability potential such as unnecessarily high expenses.

| Net profit margin = Net profit / Revenue

5. Ad spend

Total cost for advertising pulled from Facebook and Google Ads.

6. Ad spend per order

The average amount of ad spend to acquire an order.

| Ad spend / Total orders

7. Average order value (AOV)

The average amount of money a customer spend in one order. Higher AOV often means higher profit margin, as most cost per order is fixed whether someone buys more or less.

| *

Question 6

Intro to TrueProfit #3: 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.

Inside the TrueProfit mobile app

How to install & sign in

Download

Find TrueProfit in the App Store on your phone (iOS, Android) and download it as you would do with other mobile apps.

TrueProfit is now available on both app stores

Sign in

Next, open the app. On the login screen, enter your TrueProfit account*.

The Login Interface

*You need to get on the web app and create a TrueProfit account with your email first. Then you will use this account to sign in to the web and mobile apps, and manage all the stores you own.

Alternately, you can sign in to the mobile app with QR code.

Firstly, choose Sign in with QR Code on your mobile app login interface. Then, go to the web app on your laptop, look at the top right corner, click on Your Account > QR Mobile Login Code. A QR Code will pop up, use

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