How to Set Up and Manage Custom Spend
Custom Spend is where you can add and monitor extra costs, for example Shopify subscription, Instagram influencers, or even Facebook Ad Agency. Basically, any costs that don’t fall into other existing categories in TrueProfit can be configurated in the Custom Spend setup.
How to set up Fixed Costs
How to set up Metric-based Costs
Custom Spend Categories
Fixed Costs : Fixed amount, recurring, or one-time expenses
Metric-based Costs: Expenses that need formulas (i.e. costs depending on certain variables)
To add a new Fixed Cost, go to Calculation > Custom Spend > Fixed Costs > New Cost
Enter the cost name and amount of money
Choose the frequency for the cost: Monthly, Weekly, Daily, or One-time
Select the Start and End dates. If the cost doesn't have an ending date, tick the On-going checkbox
Click Create.
The new fixed cost will then appear in the list and be added to your total costs.
Your custom spend is updated every 30 days if you set Frequency as Monthly. From Date range, select This month and you will see your Custom spend updated.
Go to Calculation> Custom Spend > Metric based Costs > New Cost
Enter the cost's label
In the Formula section, choose the source of this cost: Revenue, Profit, Facebook Ads, Google Ads or other
Enter the percent value to calculate the cost
For example, if you outsource your Facebook Ad Campaign to an agency, and they charge you 10 percent of Facebook Ad Spend. Then in the drop down menu, select % Facebook and enter the value "10" into the text box.
Select the starting and ending dates. If the cost doesn't have an ending date, tick the On-going checkbox
Click Create.
The new metric-based cost will then appear in the list and be added to your total costs.
Tick the checkbox Ad spend is calculated for LTV: CAC if you want to include it in the Custom Spend and LTV:CAC calculations. The cost will be marked with the star icon when shown in the list.
Custom Spend Categories helps you manage your custom costs easier. A Custom Spend report based on categories is also available in the Categories tab.
To set up the Custom Spend Categories, go to Calculation > Custom Spend > Categories. There are 5 default categories: Agency fees, Office expenses, Labor cost, Marketing, and Tax.
You can also create a new category by clicking on + Add Category, or quick add when creating a new cost.
In the Categories Report, you can choose a date range to view the total cost of each category. A custom cost that does not belong in any category will be put into Uncategorized.
In this article:
How to set up Fixed Costs
How to set up Metric-based Costs
Custom Spend Categories
There are two types of Custom Spend:
Fixed Costs : Fixed amount, recurring, or one-time expenses
Metric-based Costs: Expenses that need formulas (i.e. costs depending on certain variables)
How to set up Fixed Costs
To add a new Fixed Cost, go to Calculation > Custom Spend > Fixed Costs > New Cost
Enter the cost name and amount of money
Choose the frequency for the cost: Monthly, Weekly, Daily, or One-time
Select the Start and End dates. If the cost doesn't have an ending date, tick the On-going checkbox
Click Create.
The new fixed cost will then appear in the list and be added to your total costs.
Your custom spend is updated every 30 days if you set Frequency as Monthly. From Date range, select This month and you will see your Custom spend updated.
How to set up Metric-based Costs
Go to Calculation> Custom Spend > Metric based Costs > New Cost
Enter the cost's label
In the Formula section, choose the source of this cost: Revenue, Profit, Facebook Ads, Google Ads or other
Enter the percent value to calculate the cost
For example, if you outsource your Facebook Ad Campaign to an agency, and they charge you 10 percent of Facebook Ad Spend. Then in the drop down menu, select % Facebook and enter the value "10" into the text box.
Select the starting and ending dates. If the cost doesn't have an ending date, tick the On-going checkbox
Click Create.
The new metric-based cost will then appear in the list and be added to your total costs.
Tick the checkbox Ad spend is calculated for LTV: CAC if you want to include it in the Custom Spend and LTV:CAC calculations. The cost will be marked with the star icon when shown in the list.
Custom Spend Categories
Custom Spend Categories helps you manage your custom costs easier. A Custom Spend report based on categories is also available in the Categories tab.
To set up the Custom Spend Categories, go to Calculation > Custom Spend > Categories. There are 5 default categories: Agency fees, Office expenses, Labor cost, Marketing, and Tax.
You can also create a new category by clicking on + Add Category, or quick add when creating a new cost.
In the Categories Report, you can choose a date range to view the total cost of each category. A custom cost that does not belong in any category will be put into Uncategorized.
Updated on: 24/03/2023
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