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How To: Calculate your Profits

This article details the process of calculating profits on the Art Storefronts platform. It offers a straightforward formula: subtract costs (such as production, shipping, and fees) from the product’s selling price. The article underscores the significance of meticulously tracking expenses to ensure accurate profit calculations.

Additionally, to calculate overall profits you can utilize the following formula: Profit = Customer Payment - Vendor Cost - Art Storefronts Transaction Fee - Stripe Transaction Fee. This ensures all costs and fees have been considered for accurate earnings information.

To access profit details for an order, follow these steps:

  1. Navigate to the Orders section in the Jump To menu of your Site Manager.

  2. Select your intended order by clicking on the Order No.

  3. Scroll down to find the product attributes and order totals. You'll see a Profit Breakdown label accompanied by a question mark ('?') icon. Hover over this symbol.

A pop-up will appear, detailing:

  • Subtotal (before order discounts, shipping, and taxes): The combined total of all product prices in the order.

  • Total Fulfillment Product Costs: The costs associated with printing the products.

  • Total Profit Margin from Products: Calculated as Subtotal - Total Fulfillment Product Costs.

  • Order Discount: Any discounts applied to products in the order.

  • Total Transaction Fees: Any transaction fees deducted from the order

  • Net Profit from Products (before shipping and taxes): Calculated as Total Profit Margin from Products - Order Discount - Total Transaction Fees.

  • Revenue from Shipping: Extra earnings from shipping fees.

  • Total Fulfillment Shipping Costs: Shipping expenses incurred for the order.

  • Net Earnings after Shipping: Calculated as Net Profit from Products + Revenue from Shipping - Total Fulfillment Shipping Costs.

  • Revenue from Taxes: Additional earnings from taxes charged on the order.

  • Total Fulfillment Tax Costs: Tax expenses from the fulfillment vendor.

  • Net Earnings after Shipping and Taxes: Calculated as Net Earnings after Shipping + Revenue from Taxes - Total Fulfillment Tax Costs.

In summary: The Profit Breakdown analyzes the Total Selling Price of the order, along with any additional revenue, while deducting all related costs and charges to present your net earnings.

Managing Payment Gateways and Payouts

To ensure smooth financial transactions, integrate payment gateways like Stripe or PayPal with your Art Storefronts site.

When a customer places an order, their payment is deposited into your payment gateway account (e.g., Stripe) after security checks. Simultaneously, your card on file is charged for the wholesale cost of the item, ensuring the order is sent to the lab for production.

Here are some guidelines:

  1. Verify that Stripe and/or PayPal are properly linked to your account for payments.

  2. Payments from customer orders will be deposited directly into these accounts.

  3. Track all transactions and payouts by accessing your Stripe or PayPal dashboards. Look for information on payment histories, fees, and linked bank accounts.

  4. If discrepancies in payouts occur, resolve them through the reporting tools in these gateways.

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