EComposer Team

May 31, 2024

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9+ Shopify Profit Tracking Apps for Accurate Financial Insights

In the dynamic realm of e-commerce, diligently monitoring your profits is essential for long-term success. Whether you're a seasoned Shopify store owner or just starting, understanding where your money is coming from and where it's going can make all the difference. Enter Shopify profit tracking apps—your new best friend in the quest for financial clarity and business growth.

In this post, we’ll explore the 9 best Shopify profit tracking apps that can help you boost your e-commerce success. From tracking your expenses to optimizing your pricing strategy, these apps provide invaluable insights that will transform how you manage your online store.

What are Shopify Profit Tracking Apps?

Shopify profit tracking apps are specialized tools that help online store owners monitor and manage their financial performance. These apps help provide real-time information about your Shopify store's revenue, costs, and profits.

Imagine having a personal financial advisor dedicated to your e-commerce business who keeps track of every dollar you earn and spend. These apps offer that. They automate the tedious task of profit calculation, considering various factors such as cost of goods sold (COGS), shipping costs, transaction fees, taxes, and advertising expenses.

Profit tracking apps provide all the data into a clear, easy-to-understand dashboard of your store's finances. This allows you to make informed decisions, pinpoint areas for enhancement, and ultimately increase your bottom line. Whether managing multiple product lines or running promotional campaigns, these tools are essential for maintaining a profitable and scalable e-commerce business.

The Importance of a Shopify Profit Tracking App for your store

Running a successful e-commerce store is like sailing a ship—you must navigate constantly, adjust your course, and keep an eye on the horizon. Without a reliable profit-tracking app, you’re essentially sailing blind. Here’s why incorporating a Shopify profit tracking app is crucial for your store:

Accurate Financial Insights: A profit-tracking app provides precise and real-time data on your store’s financial performance. It considers all revenue streams and expenses, offering a comprehensive view of your profit margins. This accuracy helps you avoid the pitfalls of manual calculations and ensures that you always know where your business stands financially.

Informed Decision-Making: With detailed financial reports, you can make data-driven decisions that drive your business ahead. Whether adjusting product prices, managing inventory, or planning marketing campaigns, clear financial insights allow you to strategize effectively and make informed choices that enhance profitability.

Time-Saving Automation: Manual bookkeeping can be time-consuming and error-prone. Profit-tracking apps automate these tasks, freeing up your time to focus on other critical aspects of your business, like product development and customer engagement. Automation also decreases the chance of human error, guaranteeing that your financial records remain precise and current.

Expense Management: Understanding where your money is going is as important as knowing how much you make. Profit tracking apps help you monitor all your expenses, from production costs to marketing spend. By identifying and analyzing these costs, you can find opportunities to cut unnecessary expenses and improve your profit margins.

Scalability: As your business grows, so do your financial complexities. Profit tracking apps are designed to scale with your store, handling increased data and providing insights that help you manage growth efficiently. They support multiple sales channels and currencies, making them ideal for expanding businesses.

Compliance and Reporting: Accurate financial records are essential for tax reporting and compliance. Profit tracking apps help you maintain detailed and organized financial data, simplifying the process of preparing for tax season and ensuring you stay compliant with regulatory requirements.

A Shopify profit tracking app is an indispensable tool for any e-commerce store owner. It helps you monitor your financial health and empowers you to make strategic decisions, manage expenses, and scale your business confidently.

The 9 Best Shopify Profit Tracking Apps

1. Lifetimely LTV & Profit by AMP

Lifetimely by AMP is an all-encompassing analytics platform designed to provide consumer brands with deep insights into their e-commerce operations. From profit tracking to customer behavior analysis, Lifetimely provides a robust array of features to enable businesses to make informed decisions and promote growth.

Highlight Features:

Cohort Analysis: Identify trends in customer acquisition cost (CAC) and revenue for different channels and audience segments.
P&L Dashboard: Instantly track profit and loss with key metrics on one real-time dashboard, integrating data from Shopify and Amazon.
LTV Insights: To drive long-term growth strategies, measure customer lifetime value (CLTV) for audience segments.
Product Analytics: Gain insights into customers' purchasing journey to enhance repurchase rates.
Channel Analytics: Assess the performance of marketing campaigns across various channels, including Facebook, Google, TikTok, Snapchat, and Klaviyo.

Pricing:

Free
BASIC: $34/month
PRO: $75/month
PLUS: $149/month

Rating: 4.8/5 (431 reviews)

2. TrueProfit: Profit Analytics

TrueProfit is a comprehensive Net Profit Analytics platform that provides real-time insights into your e-commerce store's true profit. By automating the tracking of costs and order metrics, TrueProfit ensures accuracy and reliability, allowing you to make informed decisions to maximize profitability.

Highlight Features:

Net Profit Tracker: Monitor your store's true health with a real-time Profit Dashboard that focuses directly on the ultimate metric: Net Profit.
Auto-Track All Costs: Automatically track all costs such as cost of goods sold (COGS), shipping costs, transaction fees, taxes, and custom costs, removing the demanding for manual data entry and minimizing errors.
Real-Time Sync Ad Spends: Sync ad spends from various advertising platforms, including Facebook, Google, TikTok, Bing, Snapchat, and Amazon, in real-time, enabling you to precisely evaluate the effectiveness of your marketing campaigns on profitability.
Product Analytics & Marketing Attribution: Gain insights into product-level and ad-level net profit, enabling you to optimize product providings and marketing strategies for maximum profitability.
Customer Lifetime Value (LTV) & P&L Report: Understand your customer lifetime value and access detailed profit and loss reports to track your store's financial performance.
Mobile App & All-Store View: Access TrueProfit's features on the go with a mobile app and get a comprehensive view of all your stores in one place.

Pricing:

Basic: $25/month
Advanced: $50/month
Ultimate: $100/month
Enterprise: $200/month

Rating: 4.9/5 (391 reviews)

3. BeProfit ‑ Profit Analytics

BeProfit is a comprehensive profit-tracking platform designed to help e-commerce businesses accurately monitor their true profit and loss in real time. With an intuitive analytics dashboard and robust reporting capabilities, BeProfit provides valuable insights into every aspect of your business, allowing you to optimize profitability and make informed decisions.

Highlight Features:

Real-Time Profit Tracking: Stay on top of your must-know metrics including revenue, expenses, and profit, with updates in real-time, ensuring you have most recent information at your fingertips.
Detailed Reporting: Access dozens of robust profit tracking reports to dive deep into your financial data and gain valuable insights regarding the performance of your business.
Discount and Shipping Profitability Tracking: Track the profitability of discounts and shipping costs and monitor lifetime profit and retention metrics to ensure long-term success.
Track Healthier Profit-Focused Metrics: Gain visibility into the metrics that truly impact your bottom line in real time, allowing you to make strategic decisions to maximize profitability.
Intuitive Analytics Dashboard: Access an intuitive dashboard where you can conveniently view and compare your profits from orders, products, countries, platforms, and shops, all within a single platform.
Cost Breakdown Analysis: Understand how various expenses, such as shipping, discounts, marketing, and gateway fees, impact your bottom line, enabling you to identify areas for cost optimization.
Product, Order, and Customer Insights: Get precise profit data from products, orders, countries, platforms, and shops, allowing you to identify top-performing products and optimize your sales strategies accordingly.

Pricing:

Free to install
Basic Plan: $49/month
Pro: $99/month
Ultimate Plan: $149/month

Rating: 4.7/5 (342 reviews)

4. SimplyCost ‑ Profit Tracking

SimplyCost is a powerful tool designed to help e-commerce merchants track store profit and expenses, enabling them to make informed business decisions. By automating expense tracking, SimplyCost saves merchants valuable time and allows them to focus on other critical tasks to grow their business.

Highlight Features:

Automated Expense Tracking: Automatically track your business expenses, including advertising spend from major ad platforms, custom one-off or recurring expenses, processing fees rates for each payment gateway, and Shopify transaction fees if your stores are not using Shopify Payments.
Simplified Profit Calculation: Easily calculate your store's profit by subtracting tracked expenses from sales revenues, offering you a clear comprehension of your business's financial vitality.
Time-Saving Automation: Say goodbye to manual spreadsheet tracking and time-consuming data entry. SimplyCost automates expense tracking, saving you valuable time that can be better spent growing your business.
Customizable Reporting: View and filter sales and product profit reports easily anytime, allowing you to gain insights into your store's performance and make data-driven decisions to optimize profitability.
Integration with Major Ad Platforms: Connect and pull advertising spend data from significant ad platforms, giving you a comprehensive view of your marketing expenses and ROI.
Flexible Expense Management: Add custom one-off or recurring expenses to accurately reflect your business's financial transactions and ensure all costs are accounted for in your profit calculations.

Pricing: $4.99/month

Rating: 4.8/5 (126 reviews)

5. Profitario ‑ Profit Analytics

Profitario is a powerful tool designed to help businesses get their finances in order and accurately report their net profit, margins, disputes, and customer lifetime value. By automatically importing data from sources like Shopify, AliExpress, Facebook Ads, PayPal, and more, Profitario streamlines the process of financial reporting, saving users valuable time and effort.

Highlight Features:

Automated Profit Reporting: Automate your profit reporting with Profitario's smart integrations, ensuring that your financial data is always up-to-date and accurate.
Seamless Data Import: Profitario automatically imports data from various sources, including Shopify, AliExpress, Facebook Ads, and PayPal, making reporting net profit, margins, disputes, and customer lifetime value as seamless as possible.
Time-Saving Integrations: Use one of Profitario's many integrations or Chrome extensions to simplify your workflow and save time on financial reporting tasks.

Pricing:

Free to install
Basic: $20/month
Professional: $50/month

Rating: 4.7 (79 reviews)

6. Zoex: Facebook Pixel & Profit

Zoex is a comprehensive marketing analytics platform that empowers businesses to maximize their marketing return on investment (ROI) through UTM attribution, profit calculation, and pixel conversion API integration. With Zoex, companies can track their profitability, optimize their sales strategies, and understand their audience like never before, ultimately increasing their profit and efficiency in marketing campaigns.

Highlight Features:

Profit Calculator: Zoex's intuitive profit calculator gives you a clear view of your profitability, enabling you to understand the true impact of your marketing efforts on your bottom line.
UTM Tracking: Boost your marketing return on ad spend (ROAS) with UTM tracking across all ad channels. This allows you to accurately attribute conversions to specific marketing campaigns and channels.
Data-Backed KPI and Metrics Analysis: Optimize your sales strategy with data-backed key performance indicators (KPIs) and metrics analysis. This will help you identify the most effective ads, products, and channels to focus on for maximum profitability.
Conversion API Integration: Integrate conversion API tracking for Facebook and TikTok pixels, allowing you to track ads and improve ad reports with enhanced accuracy and granularity.
Audience Insights: Gain insights into your audience like never before with Zoex's ad reports and live view, providing valuable insights into audience demographics, behaviors, and preferences to inform targeted marketing strategies.

Pricing:

Free
Premium: $99/month

Rating: 4.8/5 (66 reviews)

7. Delirious Profit

Delirious Profit is a robust tool designed to simplify calculating profits and margins for Shopify stores. Delirious Profit automates profit and margin calculations by seamlessly integrating with Shopify and allowing users to add cost prices to variants, saving time and effort, especially during end-of-financial-year assessments.

Highlight Features:

Powerful Reports: Generate detailed reports that allow you to quickly breakdown your data, providing valuable insights into your store's performance and profitability. These reports empower you to make well-informed decisions to optimize your business strategies.
Excellent Support: The Delirious Profit team provides responsive and helpful support, making sure that any inquiries or issues you may have are addressed promptly. This allows you to focus on running your business with confidence.
Expense Tracking: Track both single and recurring expenses, providing a comprehensive view of your store's financial transactions and allowing you to monitor your expenses effectively.
Gateway Fee Tracking: Add fees for all your payment gateways, enabling you to accurately account for transaction fees and other associated costs in your profit calculations.
Easy Cost Price Integration: Add cost prices (COGS) to your variants effortlessly, enabling Delirious Profit to calculate the margin made on each product automatically. This streamlined process eliminates the need for manual calculations and spreadsheet management.
Intuitive User Interface: Access all your data with ease through an intuitive user interface, which puts valuable insights at your fingertips without the complexity of navigating multiple screens or spreadsheets.

Pricing:

General: $5/month

Rating: 4.4/5 (52 reviews)

8. Sellerboard Profit Analytics

Sellerboard provides e-commerce sellers with accurate and detailed profit analytics in real-time, empowering them to make data-driven decisions. With actionable insights and unparalleled accuracy, sellerboard allows sellers to understand their numbers and optimize their strategies for increased profitability.

Highlight Features:

Real-Time Profit Analytics: Access actionable real-time profit analytics with unparalleled accuracy and detail. View profits and losses at a glance in a real-time dashboard or drill down into any period, product, order, or expense, including ad costs, cost of goods sold (COGS), shipping, payment fees, return costs, taxes, and more.
Integration with Marketing Channels: sellerboard integrates with marketing channels and syncs ad costs, sales, and attribution by product or UTM tag, providing comprehensive insights into advertising efficiency and ROI.
Periodic and Product-Based Analysis: Analyze profits by period, product, brand, and more in an intuitive live dashboard, allowing you to identify trends and opportunities for optimization.
Customer Lifetime Value (CLTV) and Customer Acquisition Costs (CAC) Tracking: Track your Customer Lifetime Value and plan your Customer Acquisition Costs to optimize your marketing strategies and maximize profitability.
Flexible Reporting Options: You can download flexible spreadsheet reports or receive them via email, allowing you to analyze your data in the format that works best for you.
COGS Management: Input your Cost of Goods Sold (COGS) by period, batch, as a percentage of the price, or as fixed values, ensuring accurate profit calculations and informed decision-making.
Advertising Efficiency Tracking: Track your advertising efficiency by product and/or UTM tag, enabling you to evaluate the efficacy of your advertising campaigns and implement data-driven adjustments to optimize return on investment (ROI).

Pricing:

Standard: $9/month
Professional: $19/month
Business: $39/month
Enterprise: $79/month

Rating: 4.5/5 (39 reviews)

9. Profiteer ‑ Cost of Goods Sold

Profiteer is a vital tool designed to generate accurate reports on the COGS (Cost of Goods Sold) and provide merchants with complete control over the cost prices of their products. Originally developed due to Shopify's lack of cost price provision, this app has become the go-to solution for generating COGS reports and ensuring accounting accuracy. With Profiteer, merchants can effortlessly generate inventory and sales reports with precise COGS values, and modify cost prices at the order level for unparalleled control and accuracy.

Highlight Features:

Generate Inventory Reports: Efficiently generate inventory reports displaying the current value of your cost of goods, providing you with a comprehensive overview of your inventory's financial status.
Generate Sales Reports: You can produce comprehensive sales reports indicating the total value of the cost of goods sold, allowing you to analyze your sales performance and profitability accurately.
Modify Cost Prices: You can modify the cost prices of your products at the order level, guaranteeing precision and uniformity in your financial documentation.
Compatibility with Accounting Packages: Most reports are available as easy-to-use CSV files, ensuring compatibility with all major accounting packages and streamlining the merchant's accounting process.

Pricing:

Basic Plan: $15/month
Large Inventory: $30/month

Rating: 4.6/5 (31 reviews)

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5 Factors for Shopify Profit Tracking App Selection

Selecting the right profit tracking app for your Shopify store is crucial for maximizing profitability and making informed business decisions.

Accuracy and Reliability: Ensure that the app provides accurate and reliable profit-tracking data. Look for features such as real-time data syncing and automated calculations to minimize errors and ensure that

your financial reports remain current and precise.

Integration with Shopify and Other Platforms: Choose an app that seamlessly integrates with Shopify and other platforms such as payment gateways, advertising platforms, and inventory management systems. This integration allows for smooth data flow between systems, removing the necessity for manual data input and ensuring that all pertinent information is captured for thorough profit tracking.

Customization and Flexibility: Look for an app offering customization options and flexibility to tailor the profit tracking process to your business needs. Features such as customizable reporting templates, adjustable cost allocation methods, and the ability to modify cost prices at the order level provide the flexibility to adapt the app to your unique requirements.

User-Friendliness and Interface: Choose an app with a user-friendly interface and straightforward features. A user-friendly interface simplifies the profit tracking process, allowing you to easily access essential insights and navigate the app. Look for features such as customizable dashboards, transparent reporting formats, and helpful tooltips or tutorials to streamline the user experience.

Customer Support and Training: Consider the level of customer support and training the app provider offers. Look for providers that provide responsive customer support channels such as email, live chat, or phone support and comprehensive training resources such as documentation, tutorials, and webinars. Access to reliable support ensures that any concerns or any inquiries you have can be quickly resolved, allowing you to maximize the app's value for your business.

By carefully evaluating these factors and selecting a Shopify profit-tracking app that meets your needs, you can effectively monitor your profitability, make data-driven decisions, and drive growth for your e-commerce business.

Conclusion

Throughout this guide, we've explored the top Shopify profit-tracking apps that offer a broad array of features and functionalities to assist you in maximizing your profitability. From accurate and reliable profit analytics to seamless integration with Shopify and other platforms, these apps provide the tools to monitor your finances precisely and confidently.

With the right profit tracking app, you can streamline your financial processes, uncover valuable insights, and take your ecommerce business to new levels of success. Start maximizing your profitability today by selecting the perfect Shopify profit-tracking app for your store and making decisions informed by data that drive your business towards success.