Revenue Mastery with Custom and Advanced Shopify Payout Reports

Shopify Payout Reports are a powerful tool for merchants who want to understand their revenue streams better. In this article, we'll take a closer look at the payout reports you can find in Shopify's Finance. We'll also discuss custom reporting options for those who want to go beyond what Shopify's built-in reports offer.

Our focus will be on payments made through Shopify Payments, We will not be covering integration in this article, for which you refer to the Shopify third-party payout reports article. One such tool that can help with this is Report Pundit, which streamlines payout data analysis.

Here's what we'll cover:

• Shopify Payout Reports: An overview of what's available natively.
• Prebuilt Reports: A look at Report Pundit's ready-to-use payout reports.
• Custom Reporting: Achieving beyond native capabilities with custom insights.

By the end of this article, you'll have a better understanding of how to use these reports and techniques to get the most out of your payout data.

Understanding Shopify Payout Reports

Navigating the world of Shopify payouts can be a game-changer for your revenue analysis. To access the Shopify payout report, head over to Admin > Settings > Payment. This report is structured around payout dates, providing you with an at-a-glance view of your bank details, Shopify payout status, and the amount received.

Here's how to delve deeper:

Explore the Breakdown: You can access a detailed summary by clicking on any specific payout data. This includes charges received and deductions such as refunds, sales tax, Shopify fees, and chargebacks. You can also gather data on Protect Credit and Cash Credit.

Detailed Reporting: The comprehensive report includes:

1. Order details
2. Date of each order
3. Type of charge
4. Gross and net payout amounts

With these details at your disposal, understanding Shopify payout reports becomes straightforward. It's not just about knowing what you've earned; it's about seeing how each element contributes to your net payouts. As you dive into these reports, you'll uncover insights that go beyond basic figures.

But, is Shopify Payout Report Enough?

Whether Shopify's built-in payout reports are sufficient depends on the specific needs of each merchant. The type of analysis you want to perform or the questions you have about your revenue and payouts are important in deciding if these reports meet your requirements.

Enhancing Native Shopify Reports 

Let's look at some things that can't be done with the default Shopify payout reports:

1. Adding or Removing Data: Unfortunately, the native reports do not allow customization. You cannot add additional data fields or remove existing ones to customize the report to your specific needs.
2. Date Range-based Analysis: While the native reports provide a general overview, they lack the flexibility to analyze payouts between specific date ranges with ease. This can hinder detailed financial scrutiny over particular periods.
3. Detailed Breakdown: The native reports fall short when it comes to breaking down payouts by tax type, product categories, location, etc. If your business requires granular insights into these areas, you might find the default offerings restrictive.
4. Transaction Date Analysis: Analyzing payouts based on transaction dates rather than payout dates is another limitation. For merchants who wish to reconcile their accounts more precisely according to transaction timing, this can be a significant drawback.
5. Data from Multiple Stores: For businesses operating multiple Shopify stores, consolidating payout information from all stores into one cohesive report isn't possible natively. This makes it challenging for multi-store operators to get a unified view of their financials.

These limitations show that while Shopify's payout reports provide a solid foundation, they may not be enough for every merchant's unique analytics needs. Looking into custom reporting solutions could reveal deeper insights and more comprehensive financial analyses specific to your business demands.

Report Pundit's Ready-to-Access Reports

Diving deeper into Shopify payout reports, Report Pundit offers a variety of custom payout reports that enhance your revenue analysis capabilities. It also  provides a set of templates designed to streamline the process and offer insights beyond the native Shopify payout report, navigate the templates by going to Report Pundit > Library> Shopify / Paypal Payout Reconciliation

Shopify Payout Report

A concise summary that encapsulates the essential details for each payout date. Key elements include:

• Payout Date: The date on which the payout was sent.
• Payout Status: The status of the payout, is categorized as scheduled, paid, or failed.
• Payout ID: The identification number of the payout.
• Charges Gross Amount: The gross amount of charges for the particular payout.
• Refunds Gross Amount: The gross refunded amount for the particular order.
• Adjustments Gross Amount: Deductions adjusted in the payout amount.
• Charges Fee Amount: The fee for the charges received in the payout.
• Payout Amount: The net payout amount received.

This comprehensive snapshot allows merchants to keep track of all financials and payout activities at a glance.

Payout Reports Based on Transaction Date

For those who need more granular insights, this report breaks down payouts by transaction date. It includes:

• Transaction Date: The date and time when the transaction was made.
• Transaction Type: The type of charge, which can be credited or debited, including charge, refund, shop cash credit, or sales tax debit.
• Order Name: The order ID involved in the transaction.
• Payout Source Type: The breakdown of the payment source type.
• Payout Status: The status of the payout, is categorized as scheduled, paid, or failed.
• Payout Date: The date when the payout was initiated for the particular transaction.
• Amount: The gross amount debited or credited for the particular transaction.
• Shopify Fee: The attributed Shopify fee, if available, for the transaction.
• Net Payout Amount: The amount credited or debited after deductions.

For those seeking to elevate their transaction analysis and reporting capabilities, here is an indispensable resource. It goes above and beyond in tracking revenue and ensuring transaction accuracy.

Payout Reports with Sales and Order Breakdown

Understanding sales performance is crucial. This report provides a detailed breakdown covering:

• Payout Date: The date when the payout was initiated for the particular transaction.
• Order Date:The date on which the order was placed.
• Order Name: The order ID involved in the transaction.
• Transaction Type: The type of charge, which can be credited or debited, including charge, refund, shop cash credit, or sales tax debit.
• Gross Sales: The total sales amount before any discounts, refunds, or adjustments.
• Total Discount: The total amount of discounts applied to sales.
• Total Refunded: The total amount of money refunded to customers.
• Net Sales: The total sales amount after deducting discounts and refunds (Gross Sales - Total Discount - Total Refunded).
• Total Shipping: The total amount charged for shipping.
• Total Tax: The total amount of tax collected on sales.
• Total Sales: The sum of net sales, shipping charges, and taxes (Net Sales + Total Shipping + Total Tax).

With this, you can seamlessly track your sales funnel from orders to end payouts.

Payouts and Order Line Item Breakdown

Accuracy in financial tracking comes from understanding every detail. This report presents an itemized breakdown for each SKU/Product, providing data on:

• Order Date: The date on which the order was placed.
• Payout Date: The date when the payout related to the transaction was sent or initiated.
• Order Name: A unique identifier or name given to an order, often used interchangeably with Order ID.
• SKU/Product: The Stock Keeping Unit or product identifier, used to track inventory and sales of specific items.
• Transaction Type: The nature of the transaction, such as a charge, refund, shop cash credit, or sales tax debit.
• Order ID: A unique identification number assigned to each order for tracking and reference purposes.
• Payout ID: A unique identification number assigned to each payout for tracking and reference purposes.
• Total Refunded: The total amount refunded to customers for returned or canceled orders.
• Net Sales: The total sales amount after deducting any discounts and refunds from Gross Sales.
• Total Tax With Shipping Tax: The combined total of sales tax and any applicable shipping tax collected on orders.
• Total Shipping: The total amount charged to customers for shipping their orders.
• Total Sales: The sum of net sales, shipping charges, and taxes (Net Sales + Total Shipping + Total Tax).
• Transaction Fee: Fees charged by payment processors or platforms for processing transactions.
• Payout Amount Detail: An itemized breakdown of the net payout amount received after all fees and adjustments.

Each of these reports is finely tuned to provide Shopify merchants with the clarity needed to manage their finances effectively.

Advanced Shopify Payout Reports

Bank Reconciliation Report (Shopify Payments)

Building a custom payout report for bank reconciliation is essential to ensure your transactions are error-free and up-to-date. This involves cross-verifying payments credited to your bank account with the Shopify payout details. Given the multiple factors influencing funds transfer—such as bank policies, geographic location, and varying payment statuses like paid, scheduled, or failed—a comprehensive approach is crucial.

Creating a detailed report based on:

• Transaction Date
• Order Date
• Payout Break
• Source Type

These elements help align your bank statement with Shopify payouts accurately. Additionally, mapping credited funds to orders, and transactions enhances revenue analysis.

Payout Invoice Reports

For merchants seeking detailed insights into their payouts, Payout Invoice Reports offer an exhaustive breakdown of each order within a Shopify payout. These reports encapsulate:

• Order Date / Order Name
• Payout Status
• Financial Status
• Currency
• Subtotal / Total Sales

Such granularity facilitates accurate payout tallying and aids seamless invoice generation, providing clarity on every financial transaction.

Shopify Chargeback Report

Chargebacks can be challenging to manage, but a well-crafted Shopify Chargeback Report can provide clarity. This report tracks the entire lifecycle of a chargeback—from initiation to dispute resolution—offering insights into:

• Reasons for the Chargeback
• Status of Dispute
• Evidence Due and Sent Dates
• Chargeback Status
• Settled Amount

Understanding these elements helps avoid discrepancies and maintains transparency in your payout statements.

Payout by Location and Currency

For businesses operating across multiple regions with diverse currencies, the Payout by Locations and Currency Report is invaluable. It simplifies the process of attributing payments to specific orders based on:

• Regional Fulfillment
• Payment Credit Periods per Region

This report makes it easier for merchants to track payments across different locations and currencies, ensuring financial clarity and operational efficiency.

With these advanced reporting tools at your disposal, managing Shopify payouts becomes more streamlined and insightful. The detailed breakdowns enable better financial oversight and enhance revenue analysis capabilities for any merchant looking beyond basic Shopify reports.

Custom Report and Conclusion

When optimizing Shopify payouts, it's important to remember that the scenarios covered above are just a glimpse of what can be achieved with custom payout reports. Report Pundit offers the flexibility to integrate additional data fields such as shipping, fulfillment, and card details, adapting to the unique needs of each business.

Every Shopify merchant has distinct requirements; thus, if you face challenges in gaining clarity on your payouts or need specific insights, feel free to reach out. Custom solutions can enhance the visibility and understanding of your revenue streams, ensuring that your payout analysis is as comprehensive and insightful as possible.

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