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25/08/2022

Shopify Finances Reports
You can think of Shopify Finances Reports as your financial statements. They offer a comprehensive overview of the income and expenses on your orders and give you more insight into your sales and money flow.

Reports available within Shopify finances are:

📰Total sales
📰Taxes
📰Tips
📰Payments

The core financial metrics we recommend you to track within these reports are total sales and net sales.

Total sales = gross sales – discounts – returns + taxes + shipping

Net sales = gross sales – discounts – returns

The most important Shopify finances report is the Shopify finance summary, where you can see your sales, payments, liabilities, and actual profit. A separate report for each one of the items is available.

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Are you struggling with keeping track of your records? Need to set up, clean up, or catch up on your books for tax season? Send DM to get started.
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Schedule a Free Discovery Call and check if we can work together
https://calendly.com/gonzales-anarowena
Save time and money. Focus more on running your business.
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Follow to learn more about Shopify Bookkeeping

23/08/2022

22/08/2022

Shopify users can keep track of their business with different reports, showing a range of business metrics and important analytics for your Shopify website.

For full access to all of the different reports, you need to be subscribed to the Shopify Plan or higher. However, if you are on the Basic Shopify plan you can view channel-specific summaries of your sales from Shopify home. If you’re on the Advanced Shopify plan you can also build your own custom reports.

We take a look at the different Shopify reports covering sales, finances, sales, traffic, and customer behaviors, and highlight some of the key business metrics you should be watching out for.

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Are you struggling with keeping track of your records? Need to set up, clean up, or catch up on your books for tax season? Send DM to get started.
—-------------
Schedule a Free Discovery Call and check if we can work together
https://calendly.com/gonzales-anarowena
Save time and money. Focus more on running your business.
--------------
Follow us to learn more about Shopify Bookkeeping

18/08/2022

What are Shopify professional reports?

Shopify professional reports are nothing more than the more advanced reports available with Shopify and higher plans. These include more granular reports about your products – sales of individual items, sales over different periods of a year (this can be useful for seasonal items), additional tax reports, or more detailed information about how your customers interact with your store.

Learn more about these reports here https://bit.ly/3AuCljP

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Are you struggling with keeping track of your records? Need to set up, clean up, or catch up on your books for tax season? Send DM to get started.
—-------------
Schedule a Free Discovery Call and check if we can work together
https://calendly.com/gonzales-anarowena
Save time and money. Focus more on running your business.
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Follow us for more Shopify Bookkeeping Tips

17/08/2022

Each time a customer makes a purchase or interacts with your store in any way, lots of analytical data is generated. Shopify scrupulously notes down each detail and presents them to you in the shape of Shopify reports. Some are available out of the box in your analytics dashboards, and others can be generated at will. With the abundance of information at your disposal, it would be a shame not to use it to your advantage.

Shopify reports – what’s available with your plan?
Many Shopify reports are considered a premium feature and, as such, are not available with the lowest plans. Advanced ($229/month) and Shopify Plus plans (starting from $2,000/month) offer the full set of analytics but the regular Shopify plan ($79) doesn’t lack far behind.

Lower plans (Lite and Basic) come only with limited analytics but you can access the Analytics dashboard regardless of the plan you’re on.

For the full plan comparison table, please click this link https://bit.ly/3pp3cY5.

Shopify reports – where to find them?

All reports reside in your dashboard, under Analytics -> Reports.

1 - Shopify reports menu
You can also look up various statistics under the Dashboard tab and track the current visitors of your store via the Live View tab (available for Basic Shopify and higher plans).

How to export Shopify reports?

On each report’s page, you’ll find an Export button in the top-right corner.

2 - Export Shopify report

With it, you can download a .csv file containing a given report, usually with even more details than visible in the dashboard. These files can then be uploaded into any tool for processing data (Google Sheets, MS Excel) or, when it makes sense, import it into, for example, accounting software.

--------
Are you struggling with keeping track of your records? Need to set up, clean up, or catch up on your books for tax season? Send DM to get started.
—-------------
Schedule a Free Discovery Call and check if we can work together
https://calendly.com/gonzales-anarowena
Save time and money. Focus more on running your business.
--------------
Follow us to learn more about Shopify Bookkeeping

08/08/2022

Book a call now to learn more about the main taxes that Shopify sellers need to be aware of, who they apply to, how much they’ll cost you and how to collect them.

05/08/2022

Accounting software gives you:

• Up-to-date, automated books with nothing missed.
• An instant view of your business's cash flow.
• Security via encryption technology (the best available).
• The ability to set access levels and invite others to view your books.
• The option to add apps and integrations to
level-up aspects of your operations.

Our recommendations of Accounting software providers:

Xero
Beloved by small and medium businesses
across the world, Xero’s user-friendly features and intuitive interface has made it an ecommerce favorite. Plans typically start at less than $10/mo and grow with your needs.

Quickbooks
One of the most popular ecommerce accounting software options, Quickbooks has plenty of apps and integrations so you can tailor a solution that works best for you. Ideal for any sized business,

To learn more about Xero & Quickbooks, book a call now to get started: calendly.com/gonzales-anarowena

03/08/2022

Benefits of a Business Bank Account

There is almost no reason not to open a business bank account to support your small business.

🎯It keeps your business and personal finances separated: You need to ensure your business financial records are accurate. Keeping your business and personal assets separated makes this process much easier.

🎯It helps you build your business credit: When you open a business bank account, credit bureaus begin tracking credit history for your business. This will help when you need a business loan or line of credit.

🎯It lets you assess your business performance more easily: With your income and expenses running through a dedicated account, it becomes easier to analyze your business’s performance. Some banks even offer software to track business performance.

🎯It lends credibility to your business: Customers will see your business as more trustworthy when payments come from a business account instead of your personal account.

🎯It helps simplify tax season: Tax preparation will be much easier at year-end because using a business checking account helps maintain a record of income and expenses.

🎯It helps you build a banking relationship: Building a banking relationship can be beneficial if you need business financing in the future.

🎯It allows you to accept credit card payments: Many banks offer merchant services to their customers, which allow you to accept credit card payments into your business checking account.

01/08/2022

What is your business type?

Did you know your tax liabilities will be different depending on your business structure? You need to know the business entity tax you're responsible for.

Talk to us, book a call now: https://calendly.com/gonzales-anarowena/15min

31/07/2022

Make it count!

25/07/2022

Helloooo Monday!!!

Bring it on!