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      How to compare revenue in Shopify with ProfitMetrics

      The standard reports within shopify can be confusing. Especially when trying to compare revenue between Shopify and ProfitMetrics. In this guide we will try to explain how to compare revenue in Shopify with Profitmetrics.

      1. Log in to the ProfitMetrics dashboard, select the desired date range, and look for "Revenue". This value is the total sales including shipping, after discounts, excluding tax/VAT.

        Revenue = Total sales - Discounts - Tax/VAT

        IMPORTANT: ProfitMetrics currently does not adjust for returns or refunds. We are planning to support this in the future.

        Profitmetrics Workflow - Step 2 (2)

      2. Navigate to Shopify > Analytics > Reports > Summary
        Accessing and Analyzing Financial Reports on Shopify Plus. - Step 18
        Here is an explanation of what Shopify is showing.
        Gross Sales = Total sales excl. Tax / VAT before returns and refunds
        Net Sales = Total sales excl. Tax / VAT after returns and refunds
        Total Sales = Total sales incl. Tax / VAT after returns and refunds
      3. Calculate the "Total Sales + Shipping excl. Tax/Vat, before returns and refunds" in Shopify

        Formula: Gross Sales - Discounts + Shipping = Total Sales excl. Tax/Vat before returns and refunds

        Example: 4.934.386,58 - 1.969.51,43 + 74.528,37 = 4.811.963,52

      4. Compare ProfitMetircs Revenue with "Total Sales excl. Tax/Vat before returns and refunds" in Shopify. Please note that small difference are expected. This is because any modification made to an order after it has been sent to ProfitMetrics will not be included in ProfitMetrics. This can be caused by added / removed products, discounts or fees. 

        Formula: ProfitMetircs Revenue - Total Sales excl. Tax/Vat before returns and refunds

        Example: 4.814.743 - 4.811.963,52 = 2.779,48

      5. Determain how significatnt the difference is by deviding the diffference with the Revenue in profitMetrics. In this case the difference is only 0,0005% indicating that the numbers are correct.

        Formula: (Difference / ProfitMetrics revenue) * 100 = Significance

        Example: (2.779,48 / 4.814.743) * 100 = 0,05%

      Thats it.

      In case the numbers do not match, you might need to Configure tax settings within Shopify. Here is a link to a guide for how to do that: https://knowledge.profitmetrics.io/shopify-configure-tax-settings-in-shopify-admin