Profit Dashboard Walkthrough

Your profit dashboard helps you monitor both the daily fluctuations and long-term trends of your business by aggregating all of your P&L metrics into one screen. The dashboard is the first thing you see upon logging in and can always be accessed under the "Profit & Loss" drop-down menu in the top banner of your window.

This guide will explain how each of your metrics is defined and calculated and will teach you how to adjust your report settings to better assess short and long-term developments in your business.

P&L metrics definitions

Primary metrics

The top row of your profit dashboard (and the graph immediately below) displays four of your business’s primary metrics. By default, the report calculates these figures based on the last 30 days of sales data.

  1. Revenue - Your revenue is calculated as the total sum of your sales excluding discounts, refunds, and taxes, but including all shipping costs paid for by customers.
  2. ⚠️Note: Because taxes are excluded, this is a bit different from how Shopify calculates total sales.
  3. Product costs - This is the total cost of all goods sold within the timeframe. These values map directly to the Spotify Cost and Lifetimely Product Cost columns in the Product Costs tab.
  4. Marketing costs - This figure sums your total ad spend across all marketing accounts that are integrated with Lifetimely.
  5. 💡Tip: To see a breakdown of marketing costs by channel, you can hover your cursor over the small gray "i" beneath your marketing cost figure.
  6. Net profit - Your net profit is your revenue minus all costs that you’ve entered or integrated into Lifetimely. This includes product costs, shipping costs, handling costs, transaction costs, custom costs, and marketing costs.

All metrics

You can find a composite of all your other P&L metrics further down in your dashboard (below the graph).

Metric Definition
Custom costs Total custom costs (based on costs manually entered in the "Custom costs" tab in Lifetimely)
Discounts
Total discounts applied to orders
Gross margin Gross profit (see below) divided by revenue
Gross profit Revenue minus shipping costs, handling costs, and transaction costs.
Handling costs Total handling costs (calculated according to rates set in the "Handling costs" tab in Lifetimely)
Marketing costs Total ad spend across all marketing accounts integrated with Lifetimely
Marketing cost per order Marketing costs (see above) divided by number of orders
Net margin Net profit (see below) divided by revenue
Net profit Revenue minus all costs (including product costs, shipping costs, handling costs, transaction costs, custom costs, and marketing costs)
Number of orders Total number of orders processed
Product costs Total cost of goods sold (COGS)
Profit per order Net profit divided by number of orders
Refunds Total value of refunds granted
Revenue Total sales excluding discounts, refunds, and taxes, but including shipping charged to customers
Sales Total sales minus discounts and refunds
Shipping charged Total shipping costs paid for by customers
Shipping costs Total custom costs (calculated according to rates set in the "Shipping costs" tab in Lifetimely). Read more here.
Taxes Total taxes assessed on orders
Total inventory value Total value (based on product costs) of all items in your inventory
Transaction costs Total transaction costs (calculated according to rates set in the "Transaction costs" tab in Lifetimely)

How to adjust timeframes

By default, the metrics in your dashboard are calculated for the preceding month. This can be adjusted at any time by clicking on the "Time period" window in the top left corner of the report, where you can either select a preset timeframe or specify a custom range of dates.

Whenever you select a new timeframe, your dashboard will update in the following three ways:

1. All of your metrics will be recalculated based on the new timeframe.

2. The percentages underneath each metric will also update based on the new settings. These percentages calculate how your metrics compare to previous time periods.

👉The example above is displaying revenue for the last 30 days of sales data (Jan 5 2021 to Feb 3 2021). Therefore, the green 33.8% figure is telling you that revenue increased 33.8% compared to the 30 days prior to that (Dec 6 2020 to Jan 4 2021).
  • If this number was red with an arrow facing down, it would mean that revenue decreased 33.8% compared to the 30 days prior.
  • If you changed your report settings to show the last 180 days of sales data, then the percentage would give you a comparison to the total revenue for the 180 days prior to that.

3. The x-axis of your graph will expand or contract to help you visualize how your four primary metrics are fluctuating within the selected date range.

💡Tip: For reports with longer timeframes, it may help to view your graph with weekly or monthly data points. You can do this by toggling between the Daily/Weekly/Monthly buttons in the top right of your graph (see above).

How to export your data

To download your metrics to a CSV file, click on the "Export to CSV" button in the top right of your report.

When copied into a spreadsheet, your metrics will be arranged as below:

💡Tip: If you'd like your daily metrics emailed to you every morning, you can sign up for a daily email report by clicking "Settings" in the top right of your window and selecting "Email Reports".

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