Shopify Profit and Loss by Month: The New Black AI

Shopify tells you what you sold. It does not tell you what you kept. The New Black AI now adds a Profit & loss to the Store page of a Shopify fashion brand: this month to date and the month before, side by side, from net sales down to profit and margin.

What the table holds

Six lines, each one unfolding into its parts:

• Net sales: product sales after discounts, minus refunds, plus the shipping your customers paid.
• Cost of goods: units sold multiplied by the Cost per item of each variant, the field Shopify's own margin reports read. Units that have no cost are counted apart, in their own line, never estimated.
• Advertising: what Meta, Google, Pinterest and X charged you on the month, read from the ad accounts connected in Connectors.
• Shipping: your cost per order, typed once.
• Payment fees: a percentage of what was paid plus a fixed amount per order. The default is 2.9 % and $0.30; change it to your processor's rate.
• Other costs: your own named lines, an app, rent, a salary, each with a monthly amount, prorated on the month to date.

Profit is what remains. Margin is profit divided by net sales.

How it works

1. Open the Store page, Overview, then Profit & loss. 2. Fill the cost per item in Store › Products › Inventory if it is empty on your store; it is saved to Shopify. 3. Type your three assumptions under their lines: shipping per order, fees, other costs. They stay with your account.

Why it matters for a merchant

Shopify's reports stop at revenue: no cost of goods, no ad spend, no fees. Profit apps exist for that; most brands keep a spreadsheet. This table puts the figures Shopify holds and the figures only you hold in one place, with last month as the comparison, and it is honest about what it is: an approximately right view of profitability, not an accountant's statement.

The feature is described on Shopify Profit & Loss. The cost per item is explained in Shopify days of stock and cost per item, and the ad figures in Ads for a fashion store on one screen.