How to calculate net profit after sale

Solved
lawnda
Tourist
11 0 1

Hi,

 

I'm using growing business plan and third party payment providers:

fee1.jpg

If i'm selling a product (original price 22$ and retail price 30$)
and I want to make a discount up to 10% for customers

How would I calculate the net profit after sale?

is the following way right?

if a customer pays using online credit card = (2.6% + 30¢) + Additional fees for payment providers not shopify = 1% then (total shopify fee = 3.6% + 30¢)

and the (Bank take 1%) + (payment providers gate 1%)

So, the net profit = 30$ - 5.6% + 30¢?

 

Thank You

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Wahab_Ahmad
Shopify Partner
696 110 162

This is an accepted solution.

Hello @lawnda, you do not add 10% discount in net profit. 

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lawnda
Tourist
11 0 1

Yes, I forgot to add 10% discount so, it would be subtract total of (all fees + 10% discount) which equal to ~ 16%

Then Net Profit = 30$ - 16%?

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Wahab_Ahmad
Shopify Partner
696 110 162

@lawnda, Now It is correct.

If my post is useful mark as like and accept solution  

lawnda
Tourist
11 0 1

Thank You

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Ofer_BeProfit
Shopify Partner
24 0 0

Hi Lawnda - I see that you've already found the answer you were looking for (kudos to Ahmad for the help!).

That said I think you'd still find great value in the BeProfit - Profit Tracker app. It's a free app that gives you a dashboard to track and analyze your store's profits and expenses (including production, shipping, marketing costs, and much more). BeProfit will take into account a multitude of different data points and then present them to you in easy-to-digest charts and graphs. Ultimately, the app will give you insights that will show you where to focus your effort in order to maximize your Shopify store's profit.

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klavorar
New Member
9 0 0

Hey,

I would recommend my application Income Tracker and Predictor where you can clearly generate any kind of report , track the income/tax/shipping in real time and can see real time predictions regarding your sales data!

Please if you are interested, give a try( there is a trial period

https://apps.shopify.com/income-tracker-and-predictor

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