How to find the end of year balance on my ecommerce account?

Accounting & Taxes
1

How do I get an end of year balance on my Shopify account? For example, if I wanted to see what my balance was on 12/31/2022 where would I go?

2

Hello @Cindiferous ,

You can follow these steps:

  • Go to Analytics → Reports → Select the relevant report that provides financial data, such as the “Finance Summary” or “Profit Summary” report.
  • Set the date range for the report
  • Look for the appropriate section within the report that provides balance information, such as the “Revenue” or “Sales” section. It should display the total sales or revenue generated up to the specified date.
  • Export

Keep in mind that Shopify reports provide an overview of your sales and financial data, but they may not include information about external factors like taxes, refunds, or additional financial transactions that occur outside of the Shopify platform.

It’d be much better if you can use a third-party app like TrueProfit, it give businesses real-time insights on crucial metrics like Profit, COGS, Shipping costs, Processing fees, and Conversion rate, etc. You get to gain a comprehensive view of your financial performance effortlessly and make informed decisions to drive business success.

If you’re interested to find more, click here: TrueProfit

Hope this can help.

Jen from TrueProfit.