August 15, 2022
Are you a Shopify business owner struggling with calculating the costs and profits of your eCommerce business? Well, this is one of the most common challenges faced by eCommerce companies. There are plenty of expenses involved in the eCommerce business that need to be added to the profit calculation. However, utilizing Doc files, spreadsheets, or anything similar for this purpose won't work in the long run.
The most efficient way of doing this is by equipping Shopify profit calculator apps. Profit tracking apps help you simplify the process of calculating profits, and expenses to ad spending, thus properly keeping track of exact profits generated.
In this article, we have listed down the 9 best Shopify profit calculator apps in 2022 that will help you scale your business and avoid going over budget or improperly calculating profits.
Let's get right into it!👇
A Shopify profit percentage calculator is an app that helps store owners keep track of profit, sales, and expenses. Many e-commerce business owners often worry about their lack of knowledge in accounting or finance. But then, you don’t need to be a financial accountant to know how much profit your Shopify store is making.
A Shopify profit tracker app takes into account the expenses you incur, the revenue earned and then calculates your average profit margin. You also get to know which product range generated the most profit, this helps you to comfortably price your products, hence increasing revenue and profits in turn.
BeProfit shows your store’s exact profit, hence making it easier for you to track business metrics, expenses, and lifetime profits accurately. This app features data analytics and a finances profit calculator which guarantees you a better and more accurate auto exchange rate, custom reports, and financial reporting charts.
With these features, you can make better decisions which are crucial to the enhancement of your store’s sales and profits.
Pricing: Pricing plans are as follows: BASIC PLAN ($25/month), PRO PLAN ($75/month), and ULTIMATE PLAN ($150/month). A 7-day free trial is also available.
by Conversific Profit Analytics
Conversific Profit analytics is a proven Shopify expense tracking app that helps you grow your business. With this app, you can calculate your actual profit, improve sales, and enhance your store’s performance.
For over 7 years, this app has enjoyed the trust of more than 40,000 stores. You can track performance with customers, and product analytics and see which products you can upsell, cross-sell, or which items would benefit when packed together.
With just a few clicks, you’ll be able to set up Profile Analytics in your store and track your store’s profitability and overall performance.
Pricing: Pricing plans are as follows: FREE, BUSINESS ($29/month), GROWTH ($79/month), and SCALE ($199/month). A 14-day free trial is also available.
by OneCommerce: Profit & Loss Analytics
True Profit is a Shopify markup calculator that shows you your ‘true’ profit as the name suggests, all automated and in real-time. With this app, you don’t have to assess all your financial reports to calculate your profit, since all your data is gathered in one place.
Additionally, this app lets you monitor costs like Ad spending, custom costs, COGS, handling fees, shipping costs, and transaction fees in real-time.
Pricing: Pricing plans are as follows: BASIC ($19.95/month), ADVANCED ($39/month), and ULTIMATE ($69/month). A 14-day free trial is also available.
by Profit Calc
Have you been wondering how you can calculate profit on your Shopify store? Well, you don’t need spreadsheets anymore to monitor your Shopify profit, expenses, taxes, transaction rates, and other fees. Getting the average profit margin for your Shopify store entails an analysis of your revenue vis-a-vis your expenses.
With Profit Calc, you don’t need to do the calculations on your own. This app automatically does all the profit calculations and then provides detailed analytics. All you need to do is assess your Shopify store’s performance based on the analytics report.
Pricing: It has a 15-day free trial and UNLIMITED ORDERS paid plan priced at $29.95/month.
Lifetimely analytics & reports allow you to do calculations of your Shopify store’s profit margins and make a projection of your customer lifetime value (LTV). Lifetimely features tools such as an automated and comprehensive P&L, customizable dashboards, accurate customer LTV calculations, industry benchmarks, and much more!
A combination of Lifetimely analytics tools gives you actionable insights that are necessary for improving your business’ ROI. Furthermore, this app integrates all expenses and transaction fees when doing the profit calculations.
Pricing: Pricing plans are as follows: BASIC ($19/month), PRO ($49/month), and PLUS ($99/month). A 14-day free trial is also available.
by Delirious Apps
Delirious Profit lifts the burden of calculating profit margins on your Shopify store, particularly at the end of a financial year, off your shoulders. This app grants you the freedom of focusing on running your store and assessing analytics instead of camping on your spreadsheets tracking expenses and profits. All you need to do is add COGS to your product variants and this app will take care of your margin calculations.
Pricing: It offers a 7-day free trial and a paid plan priced at $5/month.
by Zapfor Apps
You don’t need to waste time calculating your Shopify store’s sale profit when you can simply install SimplyCost. This app includes taxes, refunds, discounts, shipping costs, and transaction fees when calculating profits.
In addition, the app allows you to add any other costs attached to your products in order to get an accurate profit figure. Moreover, this app can also derive the product cost price from the cost per item field in your Shopify store.
Pricing: It offers a 14-day free trial and a paid plan priced at $4.99/month.
Profitario makes profit calculation and reporting very seamless by automatically importing data from Facebook Ads, AliExpress, Stripe, PayPal, and Shopify. This app relieves you from the pressure of manually tracking sales and profit margins.
Furthermore, this app helps you discover the products that generate more profits for your Shopify store. The most interesting bit is that if you are a Shopify store owner with less than 100 monthly orders, Profitario doesn’t charge you any fee.
Pricing: Pricing plans are as follows: FREE, BASIC ($20/month), and PROFESSIONAL ($50/month). A 14-day free trial is also available.
by Accountify Apps
Accountify comes with powerful analytical tools that help you boost your Shopify store’s profit. The app gives you an accurate yet rapid insight into your store’s profitability. In addition, your expenses are broken down into Ad spending, cost of sales, and overhead which includes Shopify subscriptions and other apps.
You also get to see the profitability of individual products, hence helping you make smarter decisions.
Pricing: Pricing plans are as follows: START UP (Free to install) and GROWTH ($11.90/month). A 15-day free trial is also available.
What you need to know is that all these Shopify expense tracking apps have their pros and cons. However, there are some basic features which you should look for. These include:
Most of the time, customer testimonials are always accurate about the app’s features and the support’s responsiveness. Look at the ratings and reviews when choosing a Shopify profit calculator app for your store.
A free trial period or plan helps you assess the app’s efficiency, which enables you to make informed decisions when selecting a profit calculator app.
Most negative reviews about these Shopify revenue calculator apps are centered around their complex user interface. Go for an app that is simple & easy to set up and use.
Generally, the average online retail profit margin should be at 10%. Anything below that is considered to be quite low. However, you can’t accurately track profit margins on your store without a profit tracker app.
We have put together a comprehensive list of the 9 best Shopify sales tracking apps. Feel free to email us at firstname.lastname@example.org in case you have any suggestions, comments, or recommendations.
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