Articles on: TrueProfit

How to manage Custom Spend

Can you add and monitor costs like Shopify subscription, Instagram influencers, or even Facebook Ad Agency? With TrueProfit, surely you can.

Basically, any costs that don’t fall into other existing categories in TrueProfit will be kept here at Custom Spend. They can be either Fixed Costs or Variable Costs.

In the Custom Spend page, go to Fixed Costs if you want to set up expenses by inputting predetermined amounts. In contrast, costs under formulas (i.e. costs depending on certain variables) will be tracked in Variable Costs.

How to manage Fixed Costs



Go to Calculation > Custom Spend > Fixed Costs > New Cost.



Enter the cost name & amount of money.

Next, choose the frequency the cost recurs (Monthly, Weekly, Daily or One-time).

Select the starting and ending dates. If the cost doesn't have an ending date, tick On-going.

Finally, click Create.



This fixed cost will now appear on the list and be added to your total costs.

How to manage Variable Costs



Go to Calculation> Custom Spend > Variable Costs > New Cost.

Enter the cost name.

In the Formula section, you see a dropdown menu with formulas that link to Revenue, Profit, Facebook Ad, Google Ad and Order. Simply put in a value to determine how you would like your variable cost to be calculated.



For example, if you outsource your Facebook Ad Campaign to an agency, and they charge you 10 percent of Facebook Ad Spend, then just drop down the menu and select % Facebook, enter into the box the value "10".

Select the starting and ending dates. If the cost doesn't have an ending date, tick On-going.

Click Create.



This variable cost will now appear on the list and be added to your total costs.

Please note: we just released the new feature related to Custom Spend, this is Ad spend is calculated for LTV: CAC. If you tick on it, we will still calculate it for the Custom Spend and also the LTV:CAC metric.



Categories on the Custom Spend



With aim helping you manage the custom cost easily, we just released the Categories on the Custom Spend section. Please let's discover it together!!

Please go to Calculation > Custom Spend > Categories, you will see 5 default categories: Agency fees, Office expenses, Labor cost, Marketing, Tax.



You can choose an existing category for the custom cost or create a new one for it





In the Categories Report, you can choose date range to view the total cost of each category.



The custom costs do not belong any categories, it will be summarized on Uncategorized category.

Updated on: 05/12/2022

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