Finance reports

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

From the Finances section of the Reports page, you can open the Finances summary page. From the Finances summary page, you can access detailed reports.

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 show newer data.

Invoices and fees

If you're looking for information about your Shopify account invoices and fees, you can view your account history in the Invoices and fees section of the Account page in your Shopify admin.

Finances section of the Reports page

The Finances section of the Reports page shows a few key values and has links to the Finances summary page and the detailed reports:

Finances section

In this section, the Total sales line shows the number of orders for the period. The detailed Sales finance report breaks down the orders into transactions such as sales, returns, and shipping amounts.

In this section, the Payments line shows 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

Your finance reports are organized into three categories on the Finances summary page: Sales, Gift Cards, and Payments.

The Finances summary page shows an overview of your sales, payments, and gift card data for the selected timeframe:

Finances summary

Each section might have a View report link to a detailed report on that category, as well as links to focused reports.

View the Finances summary page

To view your Finances summary page:

  1. In the Finances section, click Finances summary:

    Finances summary link

  2. Optional: Select a channel and choose a date range.

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

Sales overview

The Sales section shows 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 shows 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.

Gift cards overview

The Gift Cards section shows an overview of your gift card sales for the selected date range.

In this section, Gift card sales shows 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 shows the total outstanding balance of gift cards that were sold or issued.

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.

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:

Line-item discounts
Discounts that were applied to a single product in an order.
Order-level discounts
Discounts that were applied to an order as a whole.

Discounts aren’t related to Compare at prices.

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.

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.
Accelerated checkout The accelerated checkout the customers used, if applicable.
Credit card Type of credit card that the customers used, if applicable.
Sales channel The 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 shows Draft Orders. If an app that has no name was used, then the report shows 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.

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 appear in the sales reports. The positive amount appears because an order was placed. A refund is shown to balance the reports. However, nothing will appear in the payments finance reports because you didn't receive a payment.

Gift cards finance report

The Gift Cards finance report shows the sales of gift card products for the selected channels and date range:

Gift cards finance report

Gift cards often require special treatment in accounting.

Note

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

The Gift card sales report shows the following information:

  Definition
Date The date when the gift card was sold.
Order The order number of the sale.
Customer Name of the customer.
Gift card value The value of the gift card.
Discounts Discount applied to the sale of the gift card.
Total sales Gift card value − discounts.

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

  Definition
Date The date.
Opening balance The starting balance of gift cards at the start of the day.
Issued value The value of gift cards issued on the day.
Sold value The value of gift cards sold on the day.
Disabled value The value of gift cards that were disabled on the day.
Redeemed value The amount of gift card redemptions during the day.
Refunded value The amount of payments that were originally paid by gift card and were then refunded during the day.
Closing balance The closing balance of all issued and sold gift cards at the end of the day.
Net change The 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 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 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 - returns + 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 returns, it might appear 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:

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.

Want to discuss this page?

Visit the Shopify Community

Ready to start selling online with Shopify?

Try it free