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What Report Shows Shopify Fees? – Mipler

Illustration of a Shopify dashboard showing a breakdown of fees including transaction fees, subscription fees, and app expenditures.

Any business needs to understand the structure of expenses. This requires detailed reports that will help analyze expenses such as purchase costs, taxes, commissions, and advertising.

For instance, Mipler’s Shopify sales tax reports provide detailed tax information. Alongside a general tax report akin to Shopify’s, Mipler offers more specific ones, like state/province taxes tailored to the recipient’s location.

To view the Shopify tax fee, either set up the tax report or reach out to support. They can add a “Shopify Fee” column to calculate your tax fee.

Note:

Shopify Tax is free for the initial $100,000 in yearly sales, covering all Shopify-related sales, including those from social channels. Beyond this limit, you’ll incur the following tax charges:

– 0.35% per order (all Shopify packages except Plus)

– 0.25% per order (Shopify Plus)”.

What constitutes Shopify Fees?

Shopify Fees encompass the expenses associated with utilizing Shopify’s platform to establish and oversee your online store. These costs may cover transaction fees, subscription charges, app expenditures, shipping fees, and various services.

The cost you’ll pay depends on factors like your chosen plan, where you’re located, and other factors.

Here’s an exclusive insight into the various fees you might come across when using Shopify

Monthly Subscription: Shopify has various plans with different features and prices. Basic plans are cheaper and come with fewer features, while higher-tier plans cost more but offer more features.

Transaction Fees: if you don’t use Shopify Payments, you’ll pay an extra fee for each sale. The fee percentage depends on your plan. Basic plans have higher fees, while advanced ones have lower fees. For example: Basic Shopify imposes a 2.0% transaction fee, while Shopify applies a 1.0% fee, and Advanced Shopify charges 0.5%. Utilizing Shopify Payments exempts you from transaction fees.

Credit card fees cater to processing credit card payments, with Shopify Payments generally offering lower fees compared to alternative gateways, though fees may fluctuate by location.

Additional charges may arise from utilizing apps from the Shopify App Store, premium themes, or specific features not encompassed in your plan, like advanced report builders or extra staff accounts.

POS Fees: if you use Shopify POS for in-store sales, you might incur additional charges for using its hardware and software, depending on your setup and requirements.

Shopify offers useful reports to help store owners track their fees. These reports are easily accessible in the Shopify admin panel.

Here are the main reports

Payouts Report: this report, available to Shopify Payments users, gives a detailed breakdown of payouts, including sales, returns, adjustments, and Shopify fees. It lays out the charges for each transaction, providing clarity on what you’re being billed for.

Finance Reports: Shopify provides various financial reports to analyze your store’s economic activity. These reports cover transaction fees, taxes, and other expenses. For example, the “Transactions Report” lets you keep tabs on all transactions and associated commissions.

Billing Statement: in the Settings > Billings section of Shopify, you can find your monthly bill, which includes subscription fees, app fees, and other charges. Each fee is clearly listed to help you understand your expenses.

Shopify Reports Possible limitations when viewing Shopify Fees

  • Certain comprehensive reports are exclusively accessible with higher-tier Shopify plans. For instance, in-depth and professional analytics reports are not accessible to Basic plan users.
  • Shopify reports have some customization limitations. Users may be unable to easily modify report settings or create customized reports that meet their unique business needs.
  • Users may occasionally experience delays in updating reports, especially during high server loads. This can lead to data discrepancies, especially with rapid changes in sales or inventory.

Sales Overview by Mipler

The deals report allows you to monitor the monthly count of orders and various other sales metrics. Additionally, it provides an overview of the overall sales structure, encompassing order counts, gross sales, taxes, and more. You have the option to filter the data according to your preferred timeframe for a deeper analysis.

This report is helpful for inventory planning and marketing strategies. It also helps answer questions about the number of orders, key sales figures, and other parameters over time.

Sales Overview can also be configured to show Shopify Fees.

Here are the basic steps to do it:

  1. In the admin, go to the “App” > “Mipler: Advanced Reports” section
  2. In the “Sales” section, select “Sales Overview”.
  3. In the report, click the “Columns” button in the upper right corner > “Create column.”
  4. Fill in the fields in the window that opens:
    1. Tick the “Measure” checkbox
    2. In the “Table” field, select “Orders.”
    3. In the “Identifier” field, write “Order. fees”
    4. In the “Label” field, write “Shopify Fees.”
    5. Insert the formula “orders.total_net_amount * 0.029 + 0.30” into the text field
    6. In the “Value Format” field, select “currency.”
    7. Click the “Save column” button.

Now, you have a column where you can track Shopify Fees from sales over any period.

Conclusions

Understanding the breakdown of expenses is vital for any business to maintain financial clarity. By utilizing available tools and resources, such as Shopify’s various reports and Mipler’s sales overview, businesses can effectively track and manage their expenses, facilitating informed decision-making and sustainable growth.

Additionally, being aware of potential limitations in accessing certain reports or customizing data helps businesses navigate and optimize their financial management processes effectively.

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