how to track sales shopify on items

Hey there, Andrew here! Hope you're all doing  well. Tracking your sales finances and e-com  ,store data is one of if not the most important  thing to do each and every day so if you have  ,a shopify store you're probably tracking  all your sales and data on this page here  ,but there's a better option than just using our  shopify dashboard to track all our numbers but  ,why should we because we're able to optimize  profits and reduce costs well today i'll share  ,how to do just that track your sales and numbers  and not just shopify but how you can how much  ,you spent on facebook ads snap ads payment fees  shipping fees exchange rates and even generate an  ,automatic report so you can see the most important  number to you which is your bottom line profit,before you think that tracking finances and  numbers isn't as important as store design or ads  ,know that a staggering 82 of businesses fail  because of cash flow issues according to the us  ,bank what exactly is cash flow though for those  who don't know cash flow is in basic terms the  ,amount of money coming into a business and the  amount of money going out so think of it like a  ,tap and sink cash comes out at the top and  drains at the bottom which is your expenses  ,to keep your sink nice and full you want more  coming in from the tap than going out down  ,draining out of the sink so it sounds more simple  than it is but the number one reason why ecommerce  ,stores can't manage the cash flow is because  they aren't keeping on top of all their numbers  ,and fair enough when there's so much to track you  know how much inventory do you have what's your  ,product cost how much do ads cost what's the  freight cost payment processing fees you'll be  ,glad to know you don't need an excel spreadsheet  and have hundreds of formulas just to effectively  ,track your businesses cash flow so the solution  here i use for shopify stores is be profit tracker  ,be profit tracker is basically a real time profit  calculator to track absolutely everything in your  ,business and not just what's displayed on your  shopify dashboard and that's really important  ,it works by auto syncing sales and expenses across  a whole range of platforms you know marketing  ,payment processes shipping accounts and more so  you're basically getting an entire overview in  ,a single spot rather than pulling data across a  whole range of websites and software and using  ,manual excel spreadsheets like i said this  is extremely important so you get the true  ,cash flow data out of your business and it  gives you the information you need to make  ,the right decisions with your e-commerce  store for it to grow in the right direction  ,so let's just jump into my screen here and i'll  show you step by step how to set up this tool why  ,it works so effectively with your shopify store  and other platforms oh and by the way it is a  ,paid app but the kind folks over at be profit  are giving my audience an extended 60-day trial  ,and 20 discount so i'll leave a link down to that  app in the description box below in that voucher  ,so you're able to claim it but without further ado  let's jump on my screen now give this video a like  ,and subscribe with the notification bell turned  on if you're interested in digital marketing  ,e-commerce and online business so once you have  this app installed let's go ahead and set it all  ,up this app setup process is in this case very  important to get accurate data and numbers flowing  ,through so make sure you're paying attention  to this so once you claim the voucher install  ,the app here and click install app so now that  it's installing you'll land on this page here  ,you can insert an email address to receive  automated reports which i'll go over in a moment  ,and you can also add a password in case you know  let's say you have multiple va's or employees  ,accessing your shopify store and you don't want  them to see all the back end data and your numbers  ,then go ahead and add a password the next part is  asking you where you have your ad spend so this  ,could be on facebook google snapchat and beyond  i'm going to click facebook google and snapchat  ,and click next and then from here you're just  going to click connect on each of these boxes  ,and then input your login details into this  integration it is safe and secure you just need  ,to basically provide them with read-only access  and you can do that just by adding in your login  ,details and then it will automatically connect  up so once you've connected all the available  ,platforms then click next then the next step is  your fixed expenses so these are expenses outside  ,of ad spend and this might be for example your  shopify billing fee every month you can easily  ,import that in through a csv file they have uh  instructions here so if you click here you'll  ,be able to see how you can pull out your csv file  from shopify and then you just throw it into this  ,box over here and you'll calculate everything more  importantly though you also have other expenses  ,all you're going to do is click add expense and  you can either create a recurring expense daily  ,monthly yearly or a one-time off expense so i'm  going to cancel that i'm not going to add it  ,now but it's really important that you add your  expenses into the system therefore you can track  ,your profitability so click next the next step  will ask you how do you handle your inventory  ,because this is going to affect your shipping  rates and also your cost of goods so in this  ,case and i know for the majority of you you'll  probably click drop ship so you can click next  ,and send then from here we need to figure out the  shipping rates and b profit will actually pull  ,out your shopify shipping rates automatically  so click got it in this case we're going to go  ,with i don't have separate shipping costs for  those who are private labeling white labeling  ,have their own product and you're storing your  own product then you're going to go ahead and  ,click the relevant option here which could be  for example some shipping fees for each product  ,and then click next now this is extremely  important as well cost of goods or otherwise  ,known as cogs so you'll need to know how much  is your cost of goods how much does it cost for  ,you to produce this uh to produce or either source  this product so in this case it costs us about 20  ,dollars and someone click update cogs this will  automatically update all your products for you  ,so it's as simple as that then you click next  then you're going to add in your processing fees  ,for example if you use stripe i know over here  in australia it is 1.6 roughly per credit card  ,transaction plus another additional fee so in this  case i'm going to add in 1.6 and 30 cent fee and  ,then you can add in your calculation preferences  i typically like to have refunds by order date on  ,and then basically what this means is if you have  if you're checking a certain uh order date then it  ,will count refunds as well so i like to have that  on and then include unfilled orders as revenue  ,because technically they have been uh they have  been ordered and then include pending orders as  ,revenue i click no there might be a reason why you  might want to include pending orders as revenue  ,so go ahead and set your calculation preferences  and click next finally it's going to ask if you  ,want access to offers and tips this is totally up  to you okay so once that's all set up and complete  ,you'll be welcomed to your be profit dashboard and  honestly this will provide you a lot more detail  ,than your typical shopify dashboard so taking  a look through the overview tab make sure that  ,you have completed 100 your onboarding process  so in this case i haven't connected up my ad  ,spend nor expenses but make sure that you do  connect them up otherwise you won't get the full  ,picture here and you won't be taking advantage  of b profit the point here is to have all your  ,numbers in a single dashboard including your  ad spend every single day and it is automated  ,and updated every single minute so if we go down  here you can see your daily snapshot and you can  ,completely customize what you want to see on  your daily snapshot here if you click customize  ,and you can see you can add in raw ass you can  add in shipping transaction fees etc i'm going  ,to click save and so in this case we have a gross  profit of 8k net sales is 12.4 k and this is based  ,on that cost of goods that i entered earlier so  for every 60 sale 20 of that will be cost of goods  ,therefore you can get your gross profit margins  right here and this is extremely important and  ,this is something that you can't see immediately  from the shopify dashboard so if i had ad spending  ,here let's say i spent a thousand dollars to net  12k in sales then technically my gross profit  ,would be seven thousand seventy nine dollars all  right and then it will calculate your raw ass  ,based on your ad spend so you can start to see  how this is so convenient for seeing absolutely  ,everything in one single page and you can see  here the profit trends gross profit net profit  ,you can also see your cost of goods so  i spent four thousand dollars let's say  ,for these orders so far and then you can see  your other expenses and they even calculate  ,your taxes for you so as you can see it is  literally updating in real time so taxes  ,is calculated for you depending on the region  that you set up so make sure that you go into  ,uh manage accounts and set up your tax region  and your potential transaction fees shipping  ,handling and also refunds these are the sort  of things that you don't you aren't able to  ,see if you don't use this app and you also  get your breakdown profits here and expenses  ,so as you can tell it's so extremely important to  spend your time to completely set up this app so  ,therefore you can get the insights in order to  grow your business to grow your shopify store  ,by seeing all the stats in a single page and  then of course it goes beyond that let's check  ,out the other tabs too on the orders tab you  can break down your orders in more detail here  ,and you can see the gross profit margin is 65  which is very solid but again i haven't included  ,the marketing costs so you're able to see your  exact percentage gross margin just from this page  ,here then if you click products this is going to  inform you which winning product should you focus  ,on so in this case we only have one product  because this is a test store but if you have  ,multiple products in a store it'll be able to  tell you what's the gross margin on each of your  ,products what is actually working for you so that  that way you can properly scale the right product  ,with your ads and this is a very extremely useful  feature breaking it down by products and seeing  ,the exact cost of goods revenues and sales and the  exact profit margins with each and every product  ,is going to be so so useful and you can bypass you  know manually doing this on an excel spreadsheet  ,or looking at this every single day and  calculating everything this will save you a lot of  ,time and then talking about saving a lot of time  you also have custom reports and this is probably  ,you know one of the best features because this  will deliver a report to you either daily weekly  ,monthly even yearly and you can see everything  that you need to see without even jumping into  ,your store so let's say you have virtual  assistants running your store it's basically  ,automated okay and all you're doing is you  know spending some time scaling up your ads  ,or this report template here is going to be so  extremely useful for you because while you're you  ,know spending your time optimizing your ads you  then also have a report coming into your inbox  ,every day where you're able to see your profit  margins your exact profit margins from your  ,shopify store without even jumping into your  shopify store so how you're going to do this is  ,and the best way to do this the most simplest  way is to use one of their report templates  ,let me zoom in here so you can see they've  got report templates for daily profits  ,monthly product reports vendor reports overhead  reports expenses monthly ad spend reports even  ,so you're able to see not just your  monthly ad spend on one platform  ,but it can generate a report for ad spend across  snapchat google ads facebook ads instagram ads  ,or more and typically you need an employee or  even a virtual assistant to send these reports  ,you know jet spend their time to generate these  reports and send it to you but be profit does  ,this completely automatically again save you a lot  of time and money so what you're going to do is  ,use one of these templates let's just say let's  keep it simple and click daily profits report  ,and then once it looks good to you all  right you can click import template and  ,you can even export it immediately right here  and then so let's click import template then  ,you can customize the report from here so  let's say daily profit margin go massager  ,add a description add a categories yes this  is sales group date buy let's leave it a day  ,and you can remove or modify your columns so let's  just say in this case we don't want to see i don't  ,know transaction fees for example and then you're  going to add in your main summary titles which is  ,you know again you can add in custom fields  here custom summary titles or you can remove  ,summary titles and your default time frame so  depending on how often you want to get this report  ,let's say i just want for today because i want  this report daily in my inbox i'm going to click  ,today then click save report then i'm going to go  back click custom reports again and once we have  ,that one set up here daily profit report for ergo  massager i'm going to go down and click create  ,schedule the name this schedule let's say daily  profit report and then select the report that you  ,want automatically generated so in this case it's  this one that we just created then you're going to  ,add in your email recipients so this could just  be yourself or it could be other team members  ,and then select schedule frequency in this case  i'm going to go daily and then send a report at  ,a specific time so let's say i just want to see at  the end of the day at 5 00 pm or in the morning as  ,i start my day then have it as an active schedule  but uncheck this as it says down here if you don't  ,want to receive these schedule reports by email  it's it's up to you you can send your notification  ,to check these reports in the dashboard right  here but honestly for most of you it'll probably  ,be convenient to have it be have it be sent via  email and then click create schedule so now we  ,already have two automated reports a weekly report  schedule and a daily profit report again you have  ,a load of options here you can get your monthly  ad spend report or you can turn it into a daily  ,ad spend report it's up to you and this sort of  stuff keeping on top of your numbers every single  ,day like this will allow you to correctly optimize  not just your ads but also your store beyond that  ,you can also collect create sorry a custom report  by clicking create report and going beyond their  ,templates that they provide you and you can  customize almost about everything your table  ,columns your summary titles but i'm not going to  do that in this case but it's up to you depending  ,on what sort of needs you have but honestly most  is covered through the report templates right here  ,anyway also i'll add they're about to launch an ad  funding product which is pretty neat so basically  ,you can get up to 100k in ad spend funding with  no fixed fee or hidden fees it's revenue based  ,funding so it's paid via future sales i believe  it was five to ten percent revenue share from your  ,daily sales that you make in exchange for access  to a large chunk of ads pen to scale your store  ,you know this is a great feature for those who  might not necessarily have the cash on hand  ,but still have a successful store and want to  scale up their store pretty quickly and need  ,access to those funds in order to get more  sales and then give back the money through  ,a revenue share model terrific way to scale  up your store if you don't have the funds  ,also i should mention this isn't just for shopify  stores support for more e-commerce platforms is  ,being worked on right now so keep an eye out for  it in the meantime become has offered my audience  ,an extended 60-day free trial and 20 off this app  you can claim the trial and discount in the link  ,within the description box below so once you set  this all up no doubt you'll see how much clearer  ,your finances are and you'll get insights you  wouldn't have otherwise seen running a business  ,can be you know a mammoth task but that's why i  constantly tell others to automate your business  ,use strict processes take advantage of software  so you can run your business efficiently  ,and maximize your time the tool i shared with you  today is just one of many tools you can use to  ,you know save your time and automate your business  and don't be stuck using old-school methods when  ,there are far better solutions out there all  you need is some time and effort to optimize  ,your ecommerce business to turn it into your  dream business also a big thanks to become  ,for sponsoring this video become helps you take  control over your business with their financial  ,tools to optimize profits and get the funding you  need to rapidly grow your e-commerce business if  ,you need to get your business financed within  hours hassle-free or you like to keep track  ,of your business finances with their tools check  out the become links in the description box below  ,and finally if you enjoyed this video and found  it useful give this video a like and subscribe  ,for more weekly videos and lessons and as  always your support in the form of a few  ,clicks is always so much appreciated and helps  me put out more tutorials and content out there  ,for you i'll also leave on screen here some more  useful videos to help you on your own journey  ,in building your business and don't forget all the  links i mentioned and tools i mentioned throughout  ,this tutorial are in the description box below  and until next time thanks as always for watching

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