Shopify Profit & Loss: Net Sales, Cost of Goods, Ads, Your Costs
The New Black AI gives a Shopify fashion brand a Profit & loss in Shopify Manager: this month to date and the month before, side by side, with net sales, the cost of the goods sold, the ad spend and the merchant's own costs, down to profit and margin. Approximate on purpose, and said so.
Updated 7 November 2026
- 1Open Shopify Manager › Overview › Profit & loss
- 2Read what Shopify and your ad accounts already know
- 3Type the three things Shopify cannot know
How it works
Open Shopify Manager › Overview › Profit & loss
Two columns: the current month to date and the previous month. Each line unfolds into what it is made of.
Read what Shopify and your ad accounts already know
Net sales are product sales after discounts, minus refunds, plus the shipping your customers paid. Cost of goods is units sold multiplied by each variant's Cost per item, the field you fill in the Inventory view; units without a cost are counted apart, never guessed. Advertising is your Meta, Google, Pinterest and X spend on the month, read from the connected ad accounts.
Type the three things Shopify cannot know
Shipping cost per order, payment fees (2.9 % plus $0.30 by default, editable) and your other monthly costs, each as a named line: an app, rent, a salary. Typed once under their own line, kept for your account, prorated on a month to date. Profit and margin close the table.
Why it matters
Shopify's own reports stop at gross revenue: they do not subtract the cost of goods, the ads, the shipping or the fees. A merchant who wants to know whether September made money usually ends up in a spreadsheet. Here the figures Shopify holds and the figures only you hold sit in one table, and the month before is the comparison.
Read more in Shopify profit and loss by month. The cost per item comes from the Inventory view, and the ad spend from the ad accounts you also read in the Ads tool. The table lives in Shopify Manager.
Frequently asked questions
Is it an accounting P&L?+
No. It is a global, approximately right idea of profitability, built from your orders and your ad accounts. Taxes and accounting adjustments are not in it.
What if my products have no cost per item?+
The units without a cost are counted on their own line so you can see how much of the month is uncosted, and you can type the cost in the Inventory view; it is written to Shopify.
Do I need a Shopify store?+
Yes for this view: it reads and writes your Shopify products. Social Media and Ads work without one; the Google views of Shopify Manager too.
Related features
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