Income Statement Settings

Updated 08.11.2023

Under the Income Statements & Profitability section on the Settings page, you can configure the default values used in income statement calculations and import realized shipping costs to override the default values.

Setting Default Values 

There are two global default values used in the income statement calculations:

  • default product gross margin %
  • default shipping costs which will be used if the actual values are unavailable.

The default product gross margin % is used in calculating the cost of goods sold if the sold product does not have a saved product cost in Shopify. The Shopify cost data takes the precedence over this default value.

The default shipping costs can be set on two different levels and you can use a mixture of both methods. The first and more granular option is to specify the shipping cost for an order by the shipping destination country under country-specific shipping costs. You do not need to specify the shipping cost for all possible countries, but you can set the global default shipping cost to some value and it will be used if there's no specified value for the order's shipping destination country. Note that the default shipping costs must be inputted as tax-free values in the Ellis reporting currency.


Shipping Cost Import

The income statement calculations do not need to rely on the default shipping costs if the actual shipping costs are imported through a CSV/Excel file. The files can be imported under the shipping cost import section.

Each imported file can contain shipping cost data for up to 10,000 orders. After clicking the 'Import File' button, there will be a dialog where you can add imported files. The dialog contains and example Excel sheet that you can use as a reference point.

Each import file should contain the following data:

  • Shopify order ID
  • Store name that is used in Ellis' Store Name filters, e.g. 'fi' or 'se'.
  • Currency code Available currency codes (Shopify) 
  • Tax-free shipping cost in the specified currency
  • Tax amount in the specified currency
  • Handling costs in the specified currency (optional)
  • Parcel size (optional)
  • Parcel weight (optional)

Before submitting the file, you are asked to specify which column of your file corresponds to which data field and to validate the input data. Data that is in incorrect format will be highlighted by the data editor.

Previously imported files can be viewed in the table under the Shipping cost import section. The table allows you to download and delete previous import files and to see if the import was successful. The 'Ready' status indicates that the file is ready to be used in the income statement calculations, but it might take several minutes before the income statements are actually updated to use the new file.