Income Statement Settings

Updated 26.01.2024

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

Default Values 

There are four global default values used in the income statement and order profitability calculations:

  • Default Product Gross Margin %
  • Default Shipping Cost 
  • Default Handling Cost
  • Default Tax Rate %

The default product gross margin % is used in calculating the cost of goods sold for the items that do not have a cost in Shopify. The product gross margin is the percentage what is left as profit after the product costs are deducted from the item's tax-free retail price. The Shopify cost data takes the precedence over this default value.

The default shipping cost can be set on two different levels and they can be used together. The first and more granular option is to specify the shipping cost by the shipping destination country under country-specific shipping costs. The less granular option is to set the global shipping cost that will be used if no country-specific or order-specific shipping costs are available. The shipping costs should be input as tax-free value in the Ellis reporting currency

The default handling cost is an optional value for handling an order. It will be applied only on orders with a shipping line. The value should be input as tax-free value in the Ellis reporting currency.

The default tax rate % is used to calculate taxes on tax-free values if the exact tax-rate is unknown.


Shipping Cost Import

The income statement calculations can be made more accurate by importing the realized shipping costs through a CSV/Excel file on order level. In case there are several shipping cost entries for an order, the latest one will be used. 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.

Pro tip: Download a CSV/Excel template for orders without a shipping cost import from the "Missing Shipping Costs" element on the Shipping & Payment dashboard.

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. The data 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.