Shopify Finance Summary Report

Easily track your Shopify store's finances with Report Pundit's Finance Summary Report. Get insights into orders, sales taxes, refunds, and shipping costs—automate reports, reduce errors, and make data-driven decisions effortlessly.
Shopify Finance Summary Report

Report Pundit’s Finance Summary Report gives a solid overview about your store’s finances. Get a glimpse of how much money is collected via Orders Received, Sales Taxes and Shipping from the customer. Learn how much money remains after deductions like refunds and discounts. Track it all by sale/order - all within your choice of date range.


The Finance Summary Report makes your Shopify finance management a lot easier. It offers a clear view of the cash flows needed to help your business sail in a profitable direction. 

How the Shopify Finance Report Helps 

Tracking financial metrics is crucial for understanding revenue, expenses, and profitability. The Finance Summary Report from Report Pundit provides a clear breakdown of key financial figures, making it easier to reconcile accounts and ensure accuracy.

Example Breakdown:

  • Price per Item: $25
  • Total Units Sold: 1,000
  • Gross Sales: $25 x 1,000 = $25,000
  • Total Discounts (10%): $2,500
  • Total Refunds: $1,000
  • Net Sales: $25,000 - $2,500 - $1,000 = $21,500
  • Total Shipping Costs: $2,500
  • Total Taxes (10%): 10% of $21,500 = $2,150

Using these figures, the total sales amount is calculated as:

Total Sales = Net Sales + Taxes + Shipping Received

Total Sales=21,500+2,150+2,500=26,150

With this financial overview, businesses can better understand their revenue, track refunds, and account for discounts and taxes.

Finance-Summary-Stella

Data Fields in the Finance Summary Report


The Finance Summary Report includes the following key data fields:


Order Details

  • Date: The date the order was placed.
  • Order ID: A unique identifier assigned to each order.
  • Order No: The sequential number assigned to an order based on when it was received.
  • Product Title: The name of the product in the order.

Sales Breakdown

  • Gross Sales: Total revenue before deductions, calculated as:
    Number of Units Sold × Product Price
  • Discounts: The total discount applied to the order, including individual product and overall order discounts.
  • Refunds: Any refunds issued (full or partial) for the order.
  • Net Sales: The actual revenue earned, calculated as:
    Gross Sales - Discounts - Refunds

Example Calculation

An online electronics store owner, sold 20 items for a total of $10,000. He offered a 15% discount, making the discounted amount $1,500. Three items were returned, and he issued refunds totaling $1,275.


Net Sales Calculation:

  • Total Units Sold: 20
  • Gross Revenue: $10,000
  • Discounted Revenue: $8,500 ($10,000 - 15% discount)
  • Sale Price per Unit (after discount): $425 ($8,500 ÷ 20 units)
  • Refunds (3 items × $425 each): $1,275
  • Net Sales: $7,225 ($8,500 - $1,275 refunds)

Additional Cost Factors

  • Taxes: The total tax applied to the order, calculated as a percentage of the Net Sales amount.
  • Shipping: The amount collected for shipping, which varies based on location and method. Shipping rates can be:
    • Free
    • Flat rate
    • Custom/carrier-calculated (e.g., UPS, USPS).

Merchants can also set custom rates based on criteria such as package dimensions or total order weight. For more details, visit Shopify's Shipping Help Page.


Total Sales Calculation


Total Sales represents the final amount collected from customers, calculated as:
Net Sales + Taxes + Shipping = Total Sales


Summarizing

This Shopify Finance Report presents financial data in two key formats:

  • Sales Numbers: Includes order amount, discounts, refunds, taxes, and shipping for a given time period.
  • Order Details: Lists order IDs, order numbers, and product titles linked to each sale.

This structured report helps businesses ensure accurate financial tracking and make informed decisions based on real data.

Why do Shopify stores need this report?

Manually calculating order breakdowns might be manageable for a single order, but for online businesses processing multiple orders daily, it quickly becomes overwhelming. Imagine tracking every order—counting products, calculating gross sales, applying discounts, factoring in refunds, and ensuring accuracy in net sales. Doing this manually or through spreadsheets is not only time-consuming but also prone to errors. Report Pundit’s Finance Summary Report makes this process effortless.

  • Get a clear, comprehensive view of your financial data.
  • Use the report as is or customize it to fit your business needs.
  • Save reports for future analysis.
  • Schedule reports at your preferred frequency to always stay updated.

With automated reporting, you can eliminate manual calculations, reduce errors, and focus on growing your business instead of getting bogged down in financial reconciliations.

The Finance Summary Report provides a complete overview of your financial activities for any specified time frame, helping you understand how sales transactions are realized.


Note: Gift card sales are excluded from this report, as they are considered liabilities and are only recognized when redeemed.

Share:
Copy URLShare on facebookShare on linkedinShare on twitter
Keep up with Shopify reports
We promise we won’t spam you.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Build and automate your Shopify Reporting

Unlock the full potential of your Shopify store with Report Pundit. Gain access to over 2000 data fields, automate reports, and make data-backed decisions to grow your business.