Choose the week you want to close
Pick a completed week in your Shopify store’s reporting time zone. Record the first and last dates, currency, store, and ad account at the top of your review. Open the same period in Shopify and Meta Ads Manager. If reporting days or currencies differ, document how you align them before combining amounts.
Decide which costs are included. Keep an expense line for each relevant source, such as supplier product cost, fulfillment, payment fees, ad spend, and allocated overhead. For an ad account shared across stores, verify the allocation you intend to use.
Match each reporting line to its source
- Start with Shopify net merchandise sales. Check discounts and returns in the sales report. If you include shipping income, use the amount collected from customers less relevant shipping refunds, and check whether shipping is already in the revenue total.
- Verify variable costs. Match orders and quantities to product or variant costs and confirm the carrier or supplier charges for fulfillment. Check payment-fee coverage across the gateways used that week. Shopify’s profit reports rely on recorded product costs at the time of sale. Shopify profit report definitions.
- Tie out Meta spend and overhead. Compare the spend allocated to this store with the Ads Manager report for the same window. Include other advertising or operating costs in the review when they are part of the scope. Record the allocation used for fixed expenses so next week follows the same basis.
- Keep a list of incomplete lines. Note the unresolved cost, where the source amount will come from, and who will verify it. Close the report when the required amounts are covered.
Spot-check a returned order and an order with a shipping charge against the source records. This gives you a concrete way to confirm how the totals handle credits, carrier charges, and expenses that arrive after the order closes.
Work through a sample weekly close
This fictional store recorded A$15,000 in gross merchandise sales, A$900 in discounts, and A$600 in returned merchandise. Its net merchandise sales are A$13,500. After adding A$400 of net shipping income, the revenue basis for the week is A$13,900.
| Reporting line | Amount |
|---|---|
| Net revenue including net shipping income | A$13,900.00 |
| Product costs | −A$5,100.00 |
| Fulfillment and carrier adjustment | −A$1,380.00 |
| Payment fees | −A$420.00 |
| Meta Ads spend | −A$3,200.00 |
| Allocated overhead | −A$480.00 |
| Profit after tracked costs | A$3,320.00 |
The final carrier invoice included an A$80 adjustment, raising fulfillment cost from A$1,300 to A$1,380. Once the invoice was verified, the store recorded A$3,320 in profit after tracked costs and a 23.9% margin. Keep the adjustment alongside the invoice so someone can explain the change from the earlier cost figure.
Save the figures and explain any differences
Save the period, source totals, tracked cost assumptions, remaining exceptions, and the close date. Compare that record with the previous week using the same revenue and cost scope. For cash reconciliation, review Shopify payouts on their settlement dates, which can differ from the underlying order dates. Shopify Payments payout timing documentation.