Custom Costs is a feature for you to add more costs to TrueProfit manually. As a seller on Shopify, there might be many different kinds of costs that incur in your store, for example Shopify subscription, KOL/influencers, or even Ad Agencies costs. Basically, any costs that don’t fall into other existing categories in TrueProfit can be created and customized in the Custom Costs feature.
In this article:
Fixed Costs vs. Variable Costs
Fixed Costs : Fixed amount, can be set as recurring, or one-time expenses
Variable Costs: Expenses that use formulas based on a metric for your store (i.e. costs depending on monthly revenue)
How to add Fixed Costs
Step 1: When you click on Custom Costs, you are redirected to the Fixed Costs page
Step 2: Click Add cost to add a new fixed custom cost
Step 3: In the popup modal, enter the cost name and amount of money
Step 4: Choose a frequency to calculate this cost: Monthly, Weekly, Daily, or One-time. Your total cost amount will be divided evenly within the date range you selected.
Step 5: Select the Start and End dates. If the cost doesn't have an ending date, choose This is an ongoing cost
Step 6: Click Add to save your new Fixed Cost
The new fixed cost will be saved and added to your total costs calculation.
How to set up Variable Costs
Step 1: Go to Cost Settings > Custom Cost > click on Variable Costs
Step 2: Click Add cost to add a new Variable Costs
Step 3: In the popup modal, enter the cost name
Step 4: In the Amount section, choose a metric then enter the percentage to deduct from your selected metric
For example, if you outsource your TikTok Ad Campaign to an agency, and they charge you 10 percent of TikTok Ad Spend. Then in the drop down menu, select % TikTok Ad Spend and enter the value "10" into the text box.
Step 5: Select the Start and End dates. If the cost doesn't have an ending date, choose This is an ongoing cost
Step 6: Click Add to save your new Variable Cost
The new Variable Cost will be added to your total costs.
If you need help in setting up Custom Costs for your shop, don't hesitate to contact our support team for help!