Finance reports

You can view key financial information about your business in the finance reports.

On the Reports page, you can filter by Categories > Finances to display a list of financial reports. To access a summary and find more detailed financial reports, click the Summary report.

When you open a finance report, the data is up-to-date, give or take about 1 minute. You can reopen or refresh the report to display newer data.

Bills and fees

If you're looking for information about your Shopify account bills and fees, then you can view your account history in the Bills section of the Billing page in your Shopify admin.

Finances category filter of the Reports page

You can access a list of finances reports on the Reports page by filtering by Category > Finances. In the list of reports, you can access the Summary report page, and other key reports.

The Total sales report displays the number of orders for the time period and organizes the orders into transactions such as sales, returns, and shipping amounts.

The Payments report displays the number of monetary transactions across all payment providers (Shopify Payments, manual payments, gift cards, and so on), including both payments and refunds. The detailed Payments finance report groups the transactions by payment provider.

Finances summary page

The Finances summary page displays an overview of your sales, payments, liabilities, and gross profit data for the selected time frame. Each section has links to related reports.

View the Finances summary page

Steps:

  1. From your Shopify admin, go to Analytics > Reports.
  2. Click Categories.
  3. Select Finances to filter the reports to include only finances reports.
  4. In the Name column, click the Summary report.
  5. Optional: Select a channel and choose a date range.

If you remove a channel, then it won't display in the channel list. However, you can still view historical data for the removed channel by selecting All channels.

Sales overview

The Sales section displays an overview of your sales finance reports. It also has links to each of the other sales finance reports:

  • Gross sales report
  • Discounts report
  • Returns report
  • Net sales report
  • Shipping report
  • Taxes report

Each of these other sales finance reports focuses on a specific metric from the Sales report.

Payments overview

The Payments section displays an overview of your payments finance reports. It also has a link to a separate payments report for each payment method that your customers have used.

Liabilities overview

The Liabilities section displays an overview of your gift card sales and tips for the selected date range.

In this section, Gift card sales displays the total sales of gift cards, which is the face value of sold gift cards minus any discounts that were applied at the time of the sale.

Gift cards outstanding balance displays the total outstanding balance of gift cards that were sold or issued.

Tips displays the total value of tips received.

Gross Profit overview

The Gross Profit section displays an overview of your net sales, costs, and profit. In this section, Net sales without cost recorded displays net sales where cost wasn't recorded at the time of the sale. Net sales with cost recorded displays net sales where cost was recorded at the time of the sale. Together these add up to your total Net sales for the selected date range.

Only Net sales with cost recorded are included in your Cost of goods sold report, and count toward your Gross profit.

United States sales tax report

The United States sales tax report displays a detailed summary of the sales and taxes information for your orders in the United States. You can view this report at the country, jurisdiction, or transaction level. Only sales that were made to customers with shipping addresses located in the United States are included in this report.

Before accessing the United States sales tax report, review the following considerations:

  • To access tax data from before January 1, 2023, refer to the taxes finance report.
  • The United States sales tax report displays a maximum of 1,000 rows. You can export a comma separated values file (CSV) to access all data in the report.
  • A CSV file exported from this report has a maximum amount of one month of data. To export data for more than one month, export a CSV from the taxes finance report instead.
  • If a refund is processed for line item, then only the tax that's associated with that line item is refunded. In the country and jurisdiction summary views, the tax amount is reduced by the amount of the refund. In the transaction view, the refund is displayed in a separate row.
  • If a refund is processed that isn't associated with a line item, then tax isn't refunded and isn't included in the United States sales tax report.
  • Net sales doesn't include the following information.

The default view for the United States sales tax report is the state overview. Click on a state to access the jurisdiction view, which provides a summary of sales and taxes for a specific state. Click View Transactions to access the transaction view, which displays itemized transactions with more detailed data.

View the United States sales tax report

Steps:

  1. From your Shopify admin, go to Analytics > Reports.
  2. Click United States sales tax report.
  3. Optional: Refine your results by adding filters, changing the report date range, or selecting specific columns.
  4. Optional: Click Export to download a CSV file of the report.

State overview

The country view displays a summary view of sales and taxes collected in each state that you made sales to. Orders that were made through third-party marketplaces, such as Amazon, aren't included.

If you haven't made sales to a state, then it isn't included in this view.

Definition of United States sales tax report terms in the state overview.
Field nameDefinition
Destination stateThe states in which your sales were made. You can click a state to review information for tax jurisdictions in that state.
Total net item salesTotal line-item sales are equal to Total line-item sales from orders destined for a particular state after discounts and returns. This value doesn't include shipping.
Total item tax amountThe total amount of tax collected on sales. This value doesn't include taxes collected on shipping.

At the state overview level, the value in this column is the sum of all tax collected for jurisdictions including the state, county, city, and special tax jurisdictions.
Total shippingThe total amount charged for shipping to customers in that state.
Total shipping tax amountThe total amount of tax collected on shipping.

Jurisdiction view

The jurisdiction view displays a summary of sales and taxes collected in each jurisdiction in a specific state. A tax jurisdiction is a designated region that imposes a tax with a specific intention or purpose. This can be a state, county, city, or a special tax jurisdiction. Orders that were made through third-party marketplaces, such as Amazon, aren't included.

If the tax rate changes in any jurisdiction during the date range that you select for your report, then that jurisdiction is listed multiple times in the report. Each tax rate is reflected in a separate entry.

Definition of United States sales tax report terms in the jurisdiction-level view.
Field nameDefinition
Tax jurisdiction typeThe type of tax jurisdiction. There are four possible values for this column.
  • State indicates that the tax collected for a sale was at the State level, such as California.
  • County indicates that the tax collected for a sale was at the county level, such as Orange County.
  • City indicates that the tax collected for a sale was at the city level, such as Irvine
  • Special tax jurisdiction indicates that the tax collected for a sale was at the specific special tax jurisdiction level, such as Orange County Tax SP.
Tax jurisdictionThe name of the tax jurisdiction.
Tax jurisdiction codeThe tax reporting code associated with a tax. The jurisdiction code defines the tax authority to which taxes are paid.

If a tax jurisdiction doesn't have a code associated with the tax or a code can't be reliably determined, then the tax code is displayed as N/A or is blank.
Tax rateThe tax rate charged on applicable sales within that tax jurisdiction.
Total net item salesThe total line-item sales from orders that had tax collected after discounts and returns. This value doesn't include shipping, tax exempt customer orders, or products exempt from sales tax.
Exempt item salesThe total line-item sales that are exempt from tax. This value doesn't include shipping.
Non-taxable item salesThe total line-item sales that were non-taxable. This value doesn't include shipping.
Total exempt/non-taxable item salesThe sum of sales that were exempt or non-taxable. This value doesn't include shipping.
Total taxable item salesThe total line-item sales that were taxable.
Total item tax amountThe total amount of tax collected from sales. This value doesn't include taxes collected on shipping.

At the jurisdiction level, the value in this column is the sum of the tax collected for each different type of tax jurisdiction. Values will differ between state, counties, cities, and special tax jurisdictions.
Total shippingThe total amount charged for shipping to customers in that tax jurisdiction.
Total shipping tax amountThe total amount of tax collected on shipping.

Transaction view

The transaction view displays detailed data for each transaction. Each line item, including shipping or returns, is displayed in a separate row. As a result, it's likely that a single order will have several rows associated with it in the transactions view.

Orders that were made through third-party marketplaces, such as Amazon, aren't displayed by default. To display orders that were made through third-party marketplaces, click the filter button.

Definition of United States sales tax report terms in the transaction-level view.
Field nameDefinition
Filed by channelIndicates whether taxes have been filed on your behalf by a channel. There are three possible values for this column.
  • Filed indicates that the channel is responsible for filing taxes on your behalf.
  • Not Filed indicates that the channel isn't responsible for filing taxes.
  • Unspecified indicates that the responsibilities of the channel couldn't be determined. Review these transactions to determine whether the channel is responsible for filing taxes.
ChannelThe name of the channel or app that the customer used to place their order, such as Online Store or Buy Button.
Order numberThe order number of the sale.
Line-item IDThe line that an item displays on within an order. A single order can have multiple line items.
Sale dateThe date when the order was placed.
Line-item salesThe sales amount for each line item in the order.
DiscountsDiscounts applied to the order.
ReturnsThe amount of returns for items in the order.
Net salesNet sales are equal to line-item sales, minus discounts and returns. Shipping isn't included.
ShippingThe shipping value of an order.
Total line-item tax amountThe sum of the tax amount for a line item on an order.
Exempt amountThe amount of the transaction that is exempt from tax.
Non-taxable amountThe amount of the transaction that is non-taxable.
Exempt/non-taxable amountThe sum of Exempt and Non-taxable amounts.
Tax rateThe tax rate charged for the line item.
Tax amountThe amount of tax that was collected on taxable items.
Tax jurisdiction typeA tax jurisdiction is a designated region that imposes a tax with a specific intention or purpose. This can be a state, city, county, or a special tax jurisdiction.
Tax jurisdictionThe name of the tax jurisdiction.
Tax jurisdiction codeThe tax reporting code associated with a tax. The jurisdiction code defines the tax authority to which taxes are paid.

If a tax jurisdiction doesn't have a code associated with the tax or a code can't be reliably determined, then the tax code is displayed as N/A or is blank.
Tax jurisdiction countyThe county that the order was shipped to.
Destination cityThe city that the order was shipped to.
Destination stateThe state that the order was shipped to.
Destination countryThe country that the order was shipped to.
Destination postal codeThe postal code that the order was shipped to.
Shopify reference IDThe order's unique ID within Shopify. This ID isn't required for tax filing.

Sales finance report

The Sales finance report includes the values that you'll most likely need when doing your bookkeeping, such as net sales. The report displays each sale and return that your store made during the selected timeframe, organized by date.

If an order contains multiple products, then each product displays in the report as a separate sale or return, as do shipping charges. You can view the details of an order by clicking its order number.

For each sale or return, the finance report displays:

Description of sales finance report terms
 Definition
DateThe date of the sale or return.
OrderThe order that the sale or return is associated with.
ProductThe product that the sale or return is associated with.
Gross salesEquates to product selling price x ordered quantity.

Gross sales does not include discounts, returns, taxes, shipping, or fees.
DiscountsEquates to product discount + the product's proportional share of a cart-wide discount.

The Discounts value combines any line-item discounts with the product's share of a cart-wide discount. Discounts display as a negative value on the date that the order was placed.
ReturnsThe value of goods returned by a customer. Returns display as a negative number on the date the return was created.

Refunded shipping charges and their taxes don't display in the Return column. They display as negative values in the Shipping and Taxes columns.
Return feesThe value that you charge your customers for returning goods, such as restocking fee or return shipping fee. This doesn't include the returned item value.
Net salesEquates to gross sales - discounts - returns.

Net sales does not include shipping charges or taxes. It will be a positive number for a sale on the date that an order was placed, and a negative number for a return on the date that an order was refunded.
TaxesThe taxes associated with a sale or return. It will be a positive number for a sale on the date that an order was placed, and a negative number for a return on the date that an order was refunded.
ShippingThe shipping charges associated with a sale or return. It will be a positive number for a sale on the date that an order was placed, and a negative number for a return on the date that an order was refunded. Shipping label purchases aren't included in this report.
Total salesEquates to gross sales - discounts - returns + taxes + shipping charges + fees.

Total sales will be a positive number for a sale on the date that an order was placed, and a negative number for a return on the date that an order was refunded.

Discounts finance report

This report includes the discounts that customers received by using discount codes during checkout. The report also includes discounts that you applied during checkout in Shopify POS.

The report includes the following information:

Definition of discounts finance report terms
 Definition
Line-item discountsDiscounts that were applied to a single product in an order.
Order-level discountsDiscounts that were applied to an order as a whole.

Discounts aren’t related to Compare-at prices.

Taxes finance report

The Taxes report displays the sales taxes that were applied to your sales in the selected timeframe.

Each row of the report includes a tax type (such as a state tax or a county tax), its rate, and the total amount of tax that was charged in the selected timeframe.

The report determines the country and region based on the destination of sales, so it might include destination information even for origin-based sales tax jurisdictions. To determine the destination, the shipping address is used. If the shipping address cannot be determined, then the billing address is used. If the billing address cannot be determined, then the POS address is used.

Definition of taxes finance report terms
 Definition
ChannelThe marketplace channel in which sales occurred, if any.
Country

The country of the tax rate.

For origin-based tax jurisdictions, such as California, the destination is currently displayed instead of the country to which the tax applies.

Region

The state or province of the tax rate.

For origin-based tax jurisdictions, such as California, the destination is currently displayed instead of the region to which the tax applies.

NameThe tax rate name.
RateThe tax rate as a percentage.
Filed by channelWhich taxes have been filed on your behalf by a marketplace channel. There are three possible values for this column:
  • Filed indicates that the marketplace channel is responsible for filing taxes on your behalf.
  • Not Filed indicates that the marketplace channel isn't responsible for filing taxes.
  • Unspecified indicates that the responsibilities of the marketplace channel couldn't be determined. Review these transactions to determine whether the marketplace channel is responsible for filing taxes.
If a marketplace channel was not used to make the sale, then the sale will be listed as Not Filed or Unspecified.
AmountThe sales taxes that were applied during the selected timeframe. For example, if you had $100 in sales to which a particular 7% sales tax applied, then the amount will display $7.00.

Payments finance report

The Payments finance report displays your store's payment transactions for the selected timeframe.

Your customers' payments are grouped by transactions with the following in common:

Transaction grouping for the payments finance report
 Definition
Payment methodThe payment method that the customers used. If you mark an order as paid and select Other as the payment method, then the report will display the payment method as Manual.
Accelerated checkoutThe accelerated checkout the customers used, when applicable, such as Shop Pay or Apple Pay.
Credit cardRefers to the brand of the credit card that customers used for their transactions, if applicable. .
Credit card typeIndicates the type of credit card used by customers, such as standard or premium. To learn more about the various credit card types, refer to Shopify Payments rates by card type.
Billing countryRepresents the country associated with a customer's credit card billing address. This information is used to determine whether a transaction is domestic or international.
Sales channelThe name of the channel or app that the customer used to place their order, such as Online Store or Buy Button. For sales that originated as draft orders, the report displays Draft Orders. If an app that has no name was used, then the report displays Other.

For each group of transactions, the report displays:

Definitions of payments finance report terms
 Definition
TransactionsThe number of payment transactions.
Gross paymentsThe amount paid by the transactions before refunds.
RefundsThe total amount refunded across the transactions.
Net paymentsEquates to total amount paid - the total amount refunded.

You also have a payments report for each payment method that your customers have used. You can access those payment reports from the Payments section of the finances summary.

Canceled payments

If a payment has been authorized but is canceled before the payment can be captured, then a positive amount and a corresponding negative amount will display in the sales reports. The positive amount displays because an order was placed. A refund is displayed to balance the reports. However, nothing will display in the payments finance reports because you didn't receive a payment.

Liabilities finance report

The Liabilities finance report displays the sales of gift card products and tips for the selected channels and date range.

Liabilities often require special treatment in accounting.

Gift card sales report

The Gift card sales report displays the following information:

Definition of gift card sales report terms
 Definition
DateThe date when the gift card was sold.
OrderThe order number of the sale.
CustomerName of the customer.
Gift card valueThe value of the gift card.
DiscountsDiscount applied to the sale of the gift card.
Total salesGift card value − discounts.

The Gift cards balance report displays the daily balance of all gift card transactions, including the following information:

Definition of Gift cards balance report terms
 Definition
DateThe date.
Opening balanceThe starting balance of gift cards at the start of the day.
Issued valueThe value of gift cards issued on the day.
Sold valueThe value of gift cards sold on the day.
Disabled valueThe value of gift cards that were disabled on the day.
Redeemed valueThe amount of gift card redemptions during the day.
Refunded valueThe amount of payments that were originally paid by gift card and were then refunded during the day. This includes the amounts from gift card refunds due to failed transactions.
Adjustment valueAvailable to: Shopify Plus
The value of manual adjustments made to gift cards during the day.
Closing balanceThe closing balance of all issued and sold gift cards at the end of the day.
Net changeThe difference between the opening balance and the closing balance.

Gift card amounts in the reports

Gift cards appear in a few places in your reports. There are specific conditions that affect where they get recorded.

When you issue a gift card from your Shopify admin:

  • It isn't included as a sale in any report, nor in the total sales number in the Home sidebar.

When you sell a gift card:

  • It isn't included in any sales reports, nor the total sales number in the Home sidebar.
  • It is included in the Gift cards sales finance report.
  • The amount paid for the gift card is included in the Payments finance report under the payment method that the customer used, such as Visa or Cash.

When a customer uses a gift card to purchase something from your store:

  • It is included in sales reports. The full value of the item is claimed as sales. For example, a $20 t-shirt with $5 of that purchase paid for by a gift card will show up as $20 in sales.
  • The amount paid by or refunded to a gift card is included in the Payments finance report as a gift card entry.
  • The amount paid by gift card is subtracted from the gift card balance, which is shown in the Gift cards balance finance report.

When a gift card expires:

  • Any remaining outstanding balance on the gift card will continue to count toward your outstanding gift card balance, which is shown in the Gift cards balance report.

When you disable a gift card:

  • Any remaining outstanding balance on the gift card is returned to zero and is removed from the outstanding gift card balance in your Gift cards balance finance report. This adjustment applies from the date the card is disabled, and doesn't affect historical data.
  • It can take up to 24 hours for disabled values to appear in your Gift cards balance report.

Tips report

The Tips report displays the value of tips earned by staff and the online store sales channel during the time period.

Definition of tips report terms
ColumnDefinition
Sales channelThe channel the customer used to tip. This will either be Point of Sale for tips paid in store, or Online Store for tips collected online.
Staff nameThe name of the staff who processed the tip. Tips made through your online store will display as N/A.
TipsThe amount of the tip.

Understanding total sales

The total sales value equates to gross sales - discounts - returns + taxes + shipping + fees.

The same total sales amount that displays in your finance reports also displays in the overview section of your Shopify Home to provide your cash flow at a glance. Because the amount for total sales includes returns, it might display as a negative value. For example, if you have more returns than sales in a day, then the total sales amount for that day will be negative.

Discrepancies between the Sales and Payments finance reports

There are a few reasons why your Sales and Payments finance reports might display different numbers:

  • The Sales finance report includes information specific to orders placed, whereas the Payments finance report includes information about payments that your customers have made. There could be differences between the values displayed on each report, for example if customers have placed orders but payment has not yet been captured.
  • Because reports display data based on a timeframe, it could be that an order was placed in a different timeframe than the payment was made. For example, if your customer placed an order in May and paid for it in June, then the order will be included in the Sales finance report for May, and the payment will be included in the Payments finance report for June.
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