Shipping Cost and Net Profit
Report Toaster has introduced Shipping Cost into our dataset, which allows us to calculate net profit for an order.
While the cost of the label is displayed on Shopify's order detail page, it's buried in the events section. There is no way within Shopify to report on this data.
Report Toaster has started to track shipping cost for labels created with Shopify Shipping, which can then be included on order and sales reports. Now merchants can measure their profit/loss on shipping and know when they need to make adjustments to their shipping prices.
Better yet, we can now track net profit for an order.
- Net Profit: Calculated as gross profit + (shipping price - shipping cost) - transaction fees. For example, if your gross profit is $50, shipping price $8, shipping cost $5 and transaction fees $1.80, then net profit (calculated as $50 + ($8 - $5) - $1.80) would be $51.20.
- Net Profit Margin: Calculated as (net profit / net sales) * 100. For example if your net profit is $51.20 and your net sales is $94, then your net profit margin (calculated as ($51.20 / $94) * 100) would be 55%.
For most merchants, this represents a complete picture of their profit for an order.