Fees report? Actual net income report?

[MDD]

Where can I find a simple montly fees report? Also, is there a way to see an actual net income report?  

In my Financial Summary report I see a "Net sales" number, but that number is highly misleading as it is not, in fact, net.  That number includes fees to payment services (including Shopifys own payment service) as well as not reflecting shipping expenses I've incurred during the month, which is something else Shopify should have a report for since I print and pay 100% of my shipping through shopify.

Is there an actual net income number somewhere that I'm missing?  Is there an easy way to see how much I paid Shopify, PayPal and Amazon Payments in fees on a monthly basis?

[Aria]

Hey,

Aria here, one of the Social Care gurus at Shopify. 🙂

The information you are looking for is available, it's just in different places. 

To find out how much you paid in fees to Paypal and Amazon, you'd need to log in to your Paypal account and your Amazon account. I would suggest reaching out to those companies if you're not sure where to find the information. For privacy reasons, they don't share that information with Shopify or anyone else. 

To find out what you paid in credit card fees for Shopify Payments, go to Settings > Payment Providers > View Payouts (under Shopify Payments) in your admin. 

The easiest thing would be to export the payouts for the date period:

The shipping fees are all included in your invoices. You can find those under Settings > Billing.

You can get a breakdown of how much was paid through each payment provider if you go to Analytics > Reports > Finance > Finances Summary.

I hope this helps. 

[mkm1]

To me, it is completely unnacceptable that we have to go through every invoice and essentially transaction to see what we paid for shipping labels to shopify.  This is the most basic and important accounting information.  I'm not sure why it is this way.  We have hundreds of orders and we are a new store.  Do most of shopify's customers not sell very much?  I need answers for this. I need to be able to compare in a report or at least in a more simple way than going through every transaction, what was paid in shipping labels and what was collected for shipping.  If I could do that monthly in one lump sum at a glance, that would be great.  But it should be information that is readily available in different formats if I wish. This is a major downfall for Shopify.  I should not have to pay extra to a report app for the most basic and important accounting information.  

[mkm1]

I found something that could be helpful.  If you go to settings/billing and then click on "view Shopify account summary" there is some info there.  I have spent hours on the phone and emailing with Shopify support and never any answers about this.  Why does support not know how to find this information?  everyone has told me to get an app.  This is basic and important accounting information. 

[cloudnine]

same! support just sent me here....to you guys! its a ll a bit unnecessary i think

[suzymae]

I agree.  I've been on the phone with customer support, gone into the LA store to talk with a consultant, and emailed repeatedly with no answers as to why Shopify's reports are so difficult to break down, and misleading.

Going into Excel documents, I find multiple discrepancies across the same time period and no one can explain why the numbers don't add up.  Everyone running a business needs to know this information-- why make it so difficult to decipher? 

[mkm1]

It's horrible and had I known from the start, I might have chosen a different platform because of it.  It's caused us a lot of issues. 

[CE_Institute]

I agree  - trying to calculate merchant/credit card fees collected by shopify is a NIGHTMARE.  I think Shopify is HIDING this information from it's customers in an attempt to try to fool customers about their income by hiding our expenses.  Shopify gives us our gross totals no problem.  Why can't shopify include on it's report "merchant fees" or "credit card fees".  This is a BASIC tax requirement and undoubtedly being hidden by shopify for nefarious purpose 😞

[EricC]

I hope someone from Shopify is monitoring this thread. We are moving our entire online ecosystem (online store, POS, email marketing, rewards program, and payroll) over to Square because of how horrendous it is to try to pull MY OWN information out of Shopify. It's unbelievable how bad it is. I realize they're a big company and they won't miss my ~$500 per month, but I figured I'd post here rather than just disappear without letting them know why we switched.

[JREO]

a what a hassle, you can find the fees in settings, payout and trasactions,  it is there just hard to rectify everything, unless I am missing something, someone please tell me!!

thanks'

[TribalMarks]

I can't believe they haven't repsonded of late to this issue. They've moved things around since they last answered, but obviously don't see the need to make this seamless. Tsk

[tysatera]

I spent hours locating a document that would help me figure out what fees I paid for 2020.  I didn't find a consolidated document but these steps will work for now.  I chatted with Cheryl H/Shopify she helped me find my invoices for 2020 by navigating to the following:

• Finances
• Billing
• Bills (under payment history)
• Recent Bills 
• View all billing history
• Scroll to the bottom and click on "< or >"to navigate through the bills
• Click the checkbox for all of 2020 bills
• Top right, click on Export CSV file
• Under "Export" select Selected: 12 bills
• Under "Export As", I selected "CSV for Excel, Numbers, or other spreadsheet programs"
• Click on Export Bills
• The bills will be delivered to the email address associated with your Shopify account.  

Hopefully this helps

[CloudlabGeorge]

Well just so you all know, you can do all of this with our free app, Report Toaster: 

https://apps.shopify.com/report-toaster

Here's a screenshot that provides a nice overview of the sales on the storefront over the last 30 days. Everything is fully customizable, so I added a column for transaction fees. You can then change the date range, add filters, and even export it to CSV/JSON. 

Basically this sounds like exactly what many have you have mentioned that you're looking for. We have specific reports for Finances, Transaction Fees, all of your Sales information, and even the information you need for Taxes. Let me know if you need help in getting setup. 

George 

[luciotti]

Ok folks, after a lot of aggravation and yelling from my accountant, I'm happy to report that Shopify does have what we need, it's just buried in places that you would never imagine:

First of all, the Analytics menu is where you want to be, not the Finances menu.

Go to Analytics>Reports>Finances and expand the menu. Here you can find:

1. Finances Summary--> You can view a summary by month, quarters, YTD, MTD etc. You can also see the TOTAL of sales taxes paid by customers and shipping fees paid by customers. For a breakdown on sales taxes, click on the respective links and it will give you a detailed view..

2. Total sales --> Here you have a breakdown, by sale, of sales taxes paid by customer and shipping fees you paid. This is the detailed view, if you need to look at a transaction specifically, but it is not not the general summary report you need for your tax return. For more on this, keep reading.

At the top of the report there is a total of the SHIPPING FEES paid by customers (if they pay any). Keep in mind this is NOT the shipping fees YOU necessarily paid (therefore tax deductible), because sometimes you pay a little less or a little more depending on how you combine your orders or the app you use to print your shipping labels, but you can at least get a total number to subtract from your actual net sales.

3. TAXES --> This is where you can get a list of all sales taxes paid by county/city/state. This is what your accountant needs to file your quarterly excise tax report.

Payments --> This is also a summary of payments received minus refunds. I find this useless for tax reporting purposes.

Then go to Settings>Payments>View Payouts or Finances>Billing

This is where you can see the fees that Shopify withdraws from your payout.

Caveat 1: you still have to export this to csv or Excel and calculate the total, but that is at least doable once you have the whole list. It's a lot better than having to go through every single transaction.

Caveat 2: You cannot filter by year or even quarter, so you'll have to remove the unneeded rows from your export file.

Under Finances>Billing you see what Shopify charges you monthly, but this total combines the monthly plan fee + shipping fees you paid through Shopify. So either deduct the monthly charges from this total to get the actual shipping fees you paid or see above for how to get a total of shipping fees paid.

Warnings: PayPal payout fees are list in your PayPal account. There is no way and nowhere to see those in Shopify.

Same for AfterPay, Klarna or any other method of payment you may have installed on your site. Those fees are listed by each respective 3rd party app.

[luciotti]

I stand corrected. The Taxes report is still useless because in order to file quarterly reports you need to have the net sales associated to the sales taxes you charged. So even though you can pull a tax summary report, you still need to go into each transaction and pull that data, one by one. I am about to loose my mind on these goddam sales taxes. Square has this report and it takes literally 10 seconds to pull all the info you need.

[debbie1900]

So does Quickbooks.  I run all my wholesale transactions through QB since Shopify is such a pain and these guys pay by check anyway.  Seconds to get the QB report, hours to put together the Shopify tax report in such a way I can actually report sales taxes to the state.  

Does anyone from Shopify read these complaints, or care?

I know the programming wouldn't be that hard.

[patrickatmeca]

100% agree with this statement.  it's the most basic accounting report that EVERY bookkeeper needs: a payout report that includes subtotals for nontaxable sales, taxable sales, shipping collected, sales tax collected, AND processing fees deducted.  

[Waz1]

Yep, it is in Shopify interest to hide any expenses and fees they charge. They aim to maintain the illusion that you are making money and there are no fees. If they were being more honest and upfront about fees and expenses they would present a single button on the front dashboard titled FEES and allow full financial year reports going back at least 5 years. 

[finbarr1]

Has there been any update on getting a single detailed fees report ?  I don't see anything in the current standard reports.  Seems like this would be a fiduciary requirement for Shopify to provide this freely to their customers. Please advise.  Thanks

[patrickatmeca]

2022 and nothing has changed

[Hamzab]

Hello,  so yesterday i have received my first order! 
Once i see the payout on shopify, I notice that it will arrive like 5 days after receiving the order. Futhermore, the product price is 59.99 euro but shopify considered 55,37 euros instead of 59,99 euro and then there is a fee of 2.5 euro which is normal. But I did not understand where is the difference between the product price and the amount. Shouldn't it be the same ?

[Halg]

Can you explain why such basic information as the total for fees is so difficult to access? I'm currently going through this process four times a year, and due to updates on the site, it's a little different each time. Right now I'm waiting for an email containing the exported CSV file, for some reason. This is ridiculously complicated. It is misleading way to operate your service. 

[urban802]

Just  another function that could have been included in our HUGE Shopify plan increase we've just incurred for a POS system that doesn't have any additional functions that would warrant doubling our cost.

[urban802]

Im not seeing this breakdown of fees under Finance Summary.  Nor did you give the correct pathway?  Settings > Payment Providers > View Payouts

[NGarcia]

I am trying to find the total fees I paid through shopify payments for tax purposes. This information is not accessible in the finances summary section or under any reports I can find except for the last 90 days. I followed the instructions provided in a forum (settings/payments/view payouts/export report), but it just created a spreadsheet of every sale and fee associated without providing any totals, and it is hundreds of numbers to add up.

Does anyone know a way to find this information?

[BlueSheepBoutiq]

Following. Hoping for a satisfactory reply since this is not straight forward or easy to find.

[EricC]

I just wanted to jump in this thread to agree with everyone here that it's very obvious Shopify is hiding data about fees. There's absolutely NO reason why it would be so easy to get sales reports and analytics data and so difficult to find reports and data about fees. The fact that you can find sales info EVERYWHERE on Shopify's interface -- I mean, it's literally the first thing you see when you log in on desktop and the app, -- but there is only ONE way to get a report on fees tells you what the intention is.

I really like Shopify as a service, but when I can tell that a company is intentionally being misleading, dishonest, or trying to hide information from me, it makes me very nervous about doing business with them. The fact that Shopify is hiding this information makes me very nervous and much more likely to try another host.

I hope Shopify reverses course and makes information about fees easier to find, but I'm not hopeful considering this topic is like two years old.

[eferg]

Agree Eric -

Payment Processing Fees are a deductible expense. (Goes without saying)

Why do I have to go on an Easter Egg hunt to find them?

Why can't they be integrated into the Summary Report?

Why get your Shopify Shop owners upset every year at tax time?

The data is there.... just consolidate it.

[poordavids]

I struggled to get a way to compute a monthly journal entry to enter actual sales, deposits, fees and taxes into my accounting software that makes sense for general bookkeeping as Shopify does not make this easy at all. I would have expected this to all appear in the Finances Summary report, but I actually pull 3 separate reports to double check their numbers and come up with the journal entry. I have typed out the steps i follow below.

Determine gross sales:

1. Navigate to Analytics > Reports > Finances Summary
2. Filter to month by changing date range at top right
3. Add net sales + shipping + gift card sales, subtract gift card payments = Gross Sales
4. Note the Taxes amount as Total Taxes (click taxes to see breakdown if you track taxes from different territories)

Determine fees & undisbursed funds at end of the month:

1. Navigate to Settings > Payments > View Payouts
2. Click Export
3. Select ‘Payouts by date’ and select the start and end date of the month
4. Export payouts
5. Open .csv file
6. Sum the ‘Total’ column to determine Total Payout disbursed that month
7. Return to payouts screen and click ‘Transactions’
8. Click Export
9. Select ‘Items by date’ and select the start and end date of the month
10. Export items
11. Open .csv file
12. Sum the ‘Amount’ column (this should match ‘Shopify Payments’ from the Finances summary report)
13. Sum the ‘Fees’ column to determine Total Fees for the month
14. If applicable, insert a line between transactions where the payout date occurs in the next month
15. Sum the ‘Net’ column for payouts occurring in next month to determine Current Undisbursed
16. Sum the ‘Net’ column for payouts occurring in month you are working on
17. Add the undisbursed Net funds from previous month (Prev. Undisbursed) to the actual disbursed funds from month you are working on. This should equal the Total from the Payouts Export

Make journal entry into accounting software:

Account:	Debit:	Credit:	Memo:
Sales		Gross Sales	to record total monthly sales
Taxes Collected		Total Taxes	to record total collected taxes
Bank account	Total Payout		to record total sales deposits
Fees	Total Fees		to record total fees paid
Undeposited funds		Current Undisbursed	to record undisbursed funds
Undeposited funds	Prev. Undisbursed		to clear previously undisbursed

[blankcanvas]

Yep.  going through the same hassle as everyone else.  You have to use MULTIPLE REPORTS.. some "reports" don't even have the data in actual report, so you have to drill down on the line item and COPY AND PASTE from the website into a spreadsheet (for instance line item shipping fees).  Lol it's a joke.  But see, all these companies do it...  Ebay, Etsy.. They all embed and burry the transactional data so far into things, it makes it a complete beat down to merge all the information together.... AND ITS ALL DONE MANUALLY.   They don't want the average person being able to back into fees and costs....  

And the biggest beating of it all, when they break a single transaction into 2 line items for NO REASON... so you then have to spend the extra manual effort to combine the two line items for Net Sales, Shipping and Taxes.  

[Francine_Scheue]

I'm looking for the report we used to get under "settings" then "billing" then "finance overview" that showed exactly the Shopify fees on the monthly sales.  Where can we find this report, now?

[debbie1900]

Despite what you were told by the Shopify expert, the export of shipping fees is not accurate to the extent that voided mailing labels are not correctly reported.  

I downloaded a full year of shipping charges which did not agree with the actual charges on my credit card.  As I drilled down I found that every voided label in Shopify showed up on their export as a positive amount.  So instead of reducing the amount of the shipping, they actually added it in.  There is no clue on the export that tells you what labels were voided and refunded.

Shopify seriously needs an accountant on board to help them with their reporting.

[ClementG]

Our app Better Reports can show total fees paid for Shopify Payments and PayPal and can deduct this amount from the net sales.

We're not able to pull Shipping fees though, as the data is not exposed.

[batteryhookup]

I'm sick of having to buy apps to get more features. We pay $300/month. i don't see a way to get shopify payment fees. i followed the comments and can't figure it out

[John__S]

Hello,

I’m John from Data Export. Data Export will automate your reports like sales, inventory, refunds, tax, billing, fulfillment and many more custom reports.

Data Export can report Shopify and Paypal transaction fees. It can also report Shipping label fees for each order. We can create a monthly report of fees and automate to be delivered to you each month.

I'm not sure about Amazon fees. This is something you will need to check in your Amazon Seller account.

Please contact me if you have any questions.

Thanks!

[Earl_Brown]

Aria already givean the answer

[SteveB3]

For as sophisticated an app as Shopify -- much better than PayPal -- it seems like it could be an easy fix to provide a *total* of fees for any given period.

[Wnorth123]

Shopify is great at hiding the additional fees they charge. Starting to think it’s time to switch to a different platform.

[cloudnine]

gawd! dont say that....such a big job for me. i like shopify but now I am questioning why they make it so awkward to see fees beyond 3 or 4 months??

[Drazdauskas]

Yeah got to admit that Shopify doesn't make it easy, by the looks of things, when it comes to reporting for accounting.

The way I am understanding it, or to make sense of it in my head, is to treat each payment processor individually.

I have 3 I use on my site:-
Shopify Payments
Paypal
Klarna

I can only get the real NET figures for any sales which have gone through Shopify Payments, as this information is kept within the Shopify ecosystem.

These were found by going to Settings ---> Payments ---> Shopify Payments ----> View Payouts ---> Transactions (top right) ---> Export

Can someone confirm that I am understanding this correctly?

If so, I will have to do the same over at Paypal & Klarna, and this should result in me having all NET figures for every order processed through my website?

Thanks

[cloudnine]

i just needed to know how much i'd paid shopify over the year, that's a
fair question i think? but i had to download all of the payouts onto a
spreadsheet and let that count it up for me, just a bit more awkward
than it should be since everything else is analysed to death in there.

[Ditchmonkey]

This is terrible. At the very least if we are using Shopify Payments (your gateway!), then the fees you have charged should be part of the basic orders export. Stripe does it, and your service is based on Stripe.....

[klavorar]

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

[luciotti]

This is insane especially considering that for IRS purposes on your tax return all these expenses need to be tracked in different fields/schedules. i don't have a lot of sales but I have spent an insane amount of time trying to reconcile all these expenses to each individual transaction. I can't believe Shopify has not figured out a simple way to display all this info into one report. Even Etsy does it and Etsy is notorious for being way behind on anything technology related.

[RusticFox]

Once again shopify is absolutely SH** 

Come on shopify! You are meant to be the worlds leading online store provider yet you fail on so many things. 

Stock inventory and Basic finance reports!!

Pull your finger out and listen to the people that pay to keep your company going and your employees in a job!!!!!!

[JREO]

GEEZ So have been using Shopify for 2 months now, was using paypal,  followed this thread. DISGUSTING   I wish I hadn't changed, every month crazy to do end of month.  data all over the place,  I refuse to pay for an app to get info that SHOULD  be readily available.  I am from Canada and cannot easily find out how much GST I pay on shipping.  If I didn't have a credit card that charges no exchange fee, I would lose money on shopify shipping.  I really don't think Shopify is better than Paypal, I get the same info from support re fees and shipping info NONE.  rant over 

[greensparkstech]

Getting the financial info out of Shopify is A NIGHTMARE. 

Transaction fees are in one place

Shipping fees and other bills in another and are reported in USD (I am in Australia)

Sales in another

Yes, just as you were thinking, it appears to have been designed inside a mirror maze by an octopus without a central nervous system.

If I want to find out how much I was actually charged for shipping, I have to go to the paypal transaction and look at the currency conversion. Further, because you get charged at the end of a cycle, it's REALLY fiddly to then match up shipping costs with orders.

So, if I want to match everything up, I have to stitch together three separate spreadsheets. I can't believe that it is THIS complicated. The info is all there, it's just in a gazzillion different places. How hard would it be to write a code thing that pulls all the figures together into one place (I don't want to pay an app to do basic functionality)? 

[luciotti]

I don't know if anyone has had the time to read the newsletter Shopify sent today about the new sales tax reporting feature. Here's the link: https://www.shopify.com/tax.

I don't know if it's just me, but I find this completely useless again. I don't understand why they still can't grasp the fact that on the excise tax return the IRS asks for your net sales, not how much you charged in sales taxes (or you think you charged). They then calculate percentages based on your net sales. I looked at my report and, once again, I see the sales taxes collected but not the sales associated to them. Does anyone see it differently?

[pjmmpls]

It is now 2023, and I still can not find a line item for fees paid to Shopify. Can anyone help me? 

[cloudnine]

nope! as far as i can see there is a list of fees for each day but when i'm doing the extra expenses at the end of the year i need to calculate 365 figures to get the answer! 🙄 it's annoying and unnecessary. they literally have a analytics and reports for everything else . good luck

[luciotti]

Do you mean the fees they take out of your payouts? You can find those under Finances>Payouts, but you still have to pull a giant report and calculate the total on a spreadsheet. If you are looking for the monthly fees, they are under Finances>Billing, but again you have to remove the shipping fees that are charged at month closing, because shipping fees obviously go under a different category in your tax return.

I am still dumbfounded as to why everything is so difficult with Shopify.

[Ditchmonkey]

On top of that, it's about to get 25% more expensive.

[pjmmpls]

Can you elaborate on that?

[blankcanvas]

Feel like I have. Honestly haven’t looked at this in almost a year, but based on the $10 rate increase coming, SHOPIFY needs to provide every metric possible in their reporting. Otherwise, what exactly justifies a rate increase when they add ZERO new features…..

[gbrlbll]

Am I not able to see how much was charged for shipping on an entire year?   The only report I found will only allow me to go back 90days, is there a simple report that tells me how much shipping was charged for the year?