Finance reports

You can view key financial information about your business using finance reports. Your finance reports are organized into three categories: Sales, Pending sales, and Payments.

You can use the finances summary to see an overview of your sales, payments, and pending sales data. You can then view a full finance report to see more detail.

Finances summary

The finances summary shows an overview of your sales, payments, and pending sales data for the selected timeframe:

Finances summary

The Finances page has a section for each category of finance reports:

Each section shows a View report link to a detailed report on the data in that category, and a summary of the category's other reports. You can see one of the other reports in a category by clicking the report's name.

View your finances summary

To view your finances summary:

  1. In the Finances section, click Finances summary:
    Finances summary link

Sales overview

The Sales section of the finances summary shows an overview of your sales finance reports. To view your detailed Sales report, click View report:

Finances summary sales section

The Sales section 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 of the finances summary shows an overview of your payments finance reports. To view your detailed Payments report, click View report:

Finances summary payments section

The Payments section also has a link to a separate payments report for each payment method that your customers have used.

Pending sales overview

The Pending sales section of the finances summary shows an overview of your pending sales reports. To view your detailed Pending sales report, click View report:

Finances summary pending sales section

Gift cards sold and Total pending sales both show the total sales for gift cards, which is the face value of sold gift cards minus any discounts that were applied at the time of the sale.

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 shows each sale and return that your store made during the selected timeframe, organized by date:

Sales finances report

If an order contains multiple products, then each product shows 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 shows:

  Definition
Date The date of the sale or return.
Order The order that the sale or return is associated with.
Product The product that the sale or return is associated with.
Gross sales Equates to product selling price x ordered quantity.

Gross sales does not include discounts, returns, taxes, or shipping.
Discounts Equates 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 appear as a negative value on the date that the order was placed.
Returns The value of goods that the customer returned to the merchant. Returns appear as a negative number on the date that the return occurred.

Refunded shipping charges and their taxes do not appear in the Return column. They appear as negative values in the Shipping and Taxes columns.
Net sales Equates 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.
Taxes The 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.
Shipping The 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.
Total sales Equates to gross sales - discounts - returns + taxes + shipping charges.

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.

View your Sales finance report

To view your Sales finance report:

  1. In the Finances section, click Total sales:
    Total sales report link

If you want to view a more focused sales finance report that has fewer metrics, then you can click one of the reports from the Sales section of the finances summary.

Taxes finance report

The Taxes report shows the sales taxes that were applied to your sales in the selected timeframe:

Taxes finance report

Each row of the report shows 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 show 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, the billing address is used. If the billing address cannot be determined, the POS address is used.

  Definition
Country

The country of the tax rate.

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

Name The tax rate name.
Rate The tax rate as a percentage.
Amount The 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, the amount will show $7.00.

View your Taxes finance report

To view your Taxes finance report:

  1. In the Finances section, click Taxes:
    Taxes report link

Payments finance report

The Payments finance report shows your store's payment transactions for the selected timeframe:

Payments finances report

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

  Definition
Payment method The payment method that the customers used. If you mark an order as paid and select Other as the payment method, then the report will show the payment method as Manual.
Digital wallet The digital wallet the customers used, if applicable.
Credit card Type of credit card that the customers used, if applicable.
Sales channel The sales channel the customers used to place their order, if applicable. If you mark an order as paid, then the sales channel will show as Other.

For each group of transactions, the report shows:

  Definition
Transactions The number of payment transactions.
Gross payments The amount paid by the transactions before refunds.
Refunds The total amount refunded across the transactions.
Net payments Equates 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.

View your Payments finance report

To view your Payments finance report:

  1. In the Finances section, click Payments:
    Payments report link

Pending sales finance report

The Pending sales finance report shows the sales of gift card products for the selected timeframe:

Pending sales finances report

The Pending sales category is for sales that often require special treatment in accounting, like gift card sales. With this data separated into the Pending sales category, you can account for those sales in the way that you want in your own bookkeeping.

Note

Gift cards that you issue for free from the Shopify admin do not appear in the Pending sales report.

For each gift card sale, the report shows:

  Definition
Date The date that the sale was made.
Order The order number of the sale.
Customer The customer associated with the sale, if applicable.
Gift card value The dollar value of the gift card that was sold.

Use this field to measure the increase in liabilities due to gift cards being sold, but be aware that it will not balance against payments.
Discounts Equates 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.
Total sales Equates to gift card value - discounts.

Use this field to balance against payments.

View your Pending sales finances report

To view your Pending sales finance report:

  1. In the Finances section, click Finances summary:

    Finances summary link

  2. In the Pending sales section, click View report:

    Pending sales view report

Understanding gift cards

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 Pending sales finance report
  • the amound 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 gift card is included in the Payments finance report as a gift card entry.

Understanding total sales

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

The same total sales amount that appears in your finance reports also appears in the overview section of your Shopify Home to show your cash flow at a glance. Since the amount for total sales includes refunds, it might appear as a negative value. For example, if you have more refunds than sales in a day, then the total sales amount for that day will be negative:

Total sales negative

Discrepancies between the Sales and Payments finance reports

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

  • The Sales finance report shows you information specific to orders placed, while the Payments finance report shows 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.

  • Since reports show 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 appear in the Sales finance report for May, and the payment will show in the Payments finance report for June.

  • When customers purchase gift cards, the amount that they paid for the gift card will show in the Payments finance report. At the same time, the gift card amount appears in the Pending sale finance report. Gift card sales are treated as pending sales instead of normal sales because it means that you have the data to combine or separate gift card sales in the way that you want in your own bookkeeping.

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