Product Cost (COGS)
Set up Cost of Goods (COGS)
Discover how to set up COGS in TrueProfit for precise profit tracking. Simplify your business finances and grow smarter.FeaturedSet up Quantity-based COGS or Bundled COGS
The Quantity-Based COGS feature in TrueProfit helps you see a clear picture of your store's profits by figuring out product costs accurately. If your supplier offers discounts when you buy more units, it's important to break down these bundle costs to understand what each unit costs you. By calculating and entering the cost per unit for each pricing level, you ensure that your profit reports are correct. This easy step helps you better manage your pricing and make smarter business decisions.Some readersManaging sources in Cost of Goods
Understanding COGS Sources in TrueProfit COGS (Cost of Goods Sold) sources in TrueProfit determine how the app retrieves the COGS value for your order calculations. Currently, you can manage COGS through three sources: Shopify Integration: Automatically syncs from Shopify when you install the app. CJ Dropshipping Integration: Syncs through the CJ Dropshipping platform. Manual Entry: Directly edit COGS within the app. Shopify source By default, TrueProfit will sync the Cost peFew readersAdd zones to manage COGS in Cost of Goods
Managing COGS by zones for your store COGS zones let you create different zones to manage your COGS based on the delivery destinations for specific product. Each zone will apply the COGS you set to the selected products only. How to create a new COGS zone Click Add zone (https://storage.crisp.chat/users/helpdesk/website/61f3f962f1727800/Few readersAdd & manage historical COGS (COGS in the past)
As products might have different COGS at different periods . For example, your product costs might be increased or decreased depending on the suppliers, and you should be able to track the changes in product in different time range. In TrueProfit, the current COGS value is set to cover a product's entire lifetime by default. You can add unlimited COGS periods to manage the historical data of a product or variant, ensuring it matches the correct past orders. How to edit and add historical COFew readersHow TrueProfit import your COGS upon installing
If you've just installed TrueProfit to your Shopify store, there are 3 ways the app can get and calculate the cost of goods for your store. 1. TrueProfit automatically syncs Cost per item from your Shopify account upon installing. When you install TrueProfit, it will automatically sync the Cost per item from your pricing settings on Shopify to each product variant. If you use Cost per item to track product costs, review the imported COGS in TrueProfit to ensure they are accurate. CoFew readersApply new COGS to orders in the past
All the edits you made to a product/variant will be saved and applied to future orders only. If you want to apply new costs to orders in the past as well, you will have to recalculate all past orders in TrueProfit. Recalculate past orders means applying new changes to all orders that match for all products. If you want to manage different product costs in the past, add COGS periods like the instructions in this article (https://help.trueprofit.io/en/article/setting-up-cost-of-goods-cogs-foFew readersUsing bulk actions in Cost of Goods setting
In the Cost of Goods setting, if you need to edit multiple products and variants at once, you can select them and choose a bulk action to quickly edit COGS in the app. Here's how to use the bulk actions feature in your Cost of Good setting. How to bulk edit multiple variants or products at the same time In the product list, click on the checkbox to select the products or variants you want to edit in bulk (https://storage.crisp.chat/users/helpdesk/website/61f3f962f1727800/imagepu22nc.Few readersImport COGS & Handling Fees using .csv file
In the Cost of Goods page, you can use the Export feature to update your product's COGS and Handling Fees in bulk, then Import it back into TrueProfit. This comes in handy when you have hundreds of product and need a way to copy/paste product costs quickly. Exporting all product costs in your store In the Cost of Goods page, you will find the Export button at the top left corner of the table. (https://storage.crisp.chat/users/helpdesk/website/61f3f962f1727800/image13035nSome readers
Shipping Cost
Set up Shipping Costs
The Shipping Cost settings is where you can set up calculation rules for your store based on different zones and product groups in each zone. If you don't use any integration to sync shipping costs to TrueProfit, follow the steps below to start setting up Shipping Costs for your store. You can watch this tutorial video to understand the Shipping Cost quickly: In this article: Calculation Settings UndeFeaturedSet up quantity-based and weight-based Shipping Costs
Learn how to configure quantity-based and weight-based shipping costs in TrueProfit with this step-by-step helpdesk guide.Few readersCreate Product groups to add Shipping Cost for specific products
What are Product groups in Shipping costs? Product groups are collections of products that share the same shipping cost settings. These groups are organized within shipping zones. Here’s how it works: Default Product group: This group is part of the Default Zone and applies uniform shipping settings to all products that are not assigned to any specific group. Multiple Product groups per zone: A single shipping zone can contain multiple product groups, each with itsFew readersCalculation settings for Shipping Costs
Calculation Settings The rules you set in this setting will be applied as the default rules for all orders in your store. By setting up how you want to calculate shipping costs for items/variants or products in an order, the Orders Report will be calculated accurately for the Shipping Cost field. To open the Calculation settings, click Settings in the top right corner of the Shipping Costs page. (https://storage.crisp.chat/users/helpdesk/website/61f3f962f1727800/imageou4255Few readers
Ad Spend
How to get Revenue (UTM) data for the Ad Spend by Channel chart
In the Dashboard, you can track your ad spend and revenue based on the tracking UTM in the Ad Spend by Channel chart. Currently, TrueProfit uses the first-click attribution for your UTM-based Revenue metric in this chart. How to add a source parameter to your ad URL FoFew readersSet up ad spend sync by campaigns using Custom Rules
The Custom rules feature in Marketing Channels is where you can set up filters to sync ad spend from campaigns that match your rules only. Setting up rules helps you include or exclude the exact campaigns in your ad account to get the correct ad spend for your store. When you add the keywords to include or exclude ad campaigns, TrueProfit will filter and sync ad spend by campaign name according to your rules.Few readers
Other Costs
Set up Transaction Fees
Read the full tutorial below or watch this short video for setting up Transaction Fees: How to know if you have Transaction Fees in your store Transaction Fees, or Third-party transaction fees, are charges that apply to each transaction when you use a third-party payment provider to take customer payments on your Shopify store. Besides that, some online payment providers also charge Processing Fees for your store on each order. In TrueProfiPopularSet up Custom Costs
Learn how to set up custom costs in TrueProfit to account for all expenses and get a complete picture of your profit calculations.PopularSet up Taxes Paid
The Taxes Paid page is where you can set up the tax costs you pay to your government. Taxes paid are considered a cost to your business. Once taxes are set up in TrueProfit, you can start tracking all your costs more accurately and easily. What are the differences between Taxes Collected and Taxes Paid in TrueProfit? Taxes Collected is the amount you charge in each order to your customer; it is calculated as an income. TrueProfit will pull this metric from your Shopify Admin settinFew readersSet up Calculation Preferences
The Calculation Preference setting is when you can change how TrueProfit calculates some metrics for your store, for example, the COGS, taxes, and return metrics. Additionally, you can also change the default payment status filter and default date range. Setting up Profit Calculation Rules In this part, you will see 4 customization rules that are related to your metrics on the dashboard. Exclude Taxes Collected metric from the Net Profit formula: Taxes Collected are the taFew readersBulk editing order costs in Orders Report
To edit the Shipping cost, Total COGS, and Handling fee at once, you can use both the Import and Bulk edit features on the Order Report page. Depending on the number of orders you want to edit, you can choose a feature that best fit your need. Exporting and Importing Orders Report Choose the date range that includes the orders you want to edit costs for 2. Click Export to dFew readers
FAQ
FAQ: Can I import shipping settings from Shopify?
No, because the shipping rates in Shopify and shipping costs in TrueProfit are different metrics. Shipping rates in Shopify are the amount you charge customers for shipping (income), while shipping costs in TrueProfit are the costs you need to pay in order to deliver your products (expense).Some readersFAQ: How to set shipping cost as 0 (free shipping)?
By default, your Shipping Cost is set as 0 in the app. If you want to update your current Shipping Cost to 0, go ahead and change the cost value in the Default zone and delete all other custom zones, if any.Few readersFAQ: Are your order costs not updating?
If you edited your COGS, shipping costs, and transaction fees and haven't seen the costs updated in the Orders Report, you might have missed the Recalculate past orders button in these settings. Recalculate COGS setting Step 1: Select the products or variants that you want to recalculate using the checkboxes at the left of the table Step 2: When a product or variant is selected, you can see the Re-calculate product past orders button shows up at the top of the table Step 3:Few readersFAQ: How can I remove deleted products that still show in COGS?
Even when you've removed a product/variant, it might still relate to some orders in your store. Therefore we have to handle them manually. Please contact us for manual support and we'll be glad to help.Few readersFAQ: How do I change sale prices in TrueProfit?
Sale prices are pulled in automatically from Shopify. In case you need to make changes to sale prices, you'll have to do it on Shopify dashboard. TrueProfit will then update accordingly.Few readersHow to set up custom costs for specific orders using order tag
You can set up Custom Costs for specific orders in your store using Order tags on Shopify. Learn more about Order tag on Shopify here. Note that this feature is only applicable for Variable Costs, as TrueProfit with deduct the custom cost from a selected metric. Learn more about Custom Cost in this article. How to create custom costs for selected orders MaFew readersFAQ: What are the differences between Taxes Collected and Taxes Paid?
What are the differences between Taxes Collected and Taxes Paid in TrueProfit? Taxes Collected is the amount you charge in each order to your customer; it is calculated as an income. TrueProfit will pull this metric from your Shopify Admin settings and add it to your Revenue and Net Profit calculations: HFew readers