Finance

Open Finance. It shows your store’s profit and loss for the days you choose: the button at the top says the period (Last 30 days at first); tap it for Today, Yesterday, This week, This month or Last 7 days, or pick days on its calendar (one day, or a first and a last day). Days follow your store’s time zone (Settings › General). Owners and admins see Finance; other members of your team do not.

Balance

On Storeloom Payments, Balance comes first: Available is what can be paid out to your bank, and On the way is money from recent payments that is not ready yet. Below them are your latest payouts. The balance is at most a minute old; when Stripe is busy it shows what it last said, or asks you to try again in a few minutes. Export payments downloads a CSV of your payments with Storeloom’s fee and what reached your balance, straight to your computer. The schedule and your bank account are on Settings › Payments › Storeloom Payments.

Profit and loss

• Gross sales: what your orders sold, before anything is taken off; cancelled orders and test orders do not count.
• Gift cards you sell are not counted as sales here: the money is taken in for later, and the sale is the order the card is spent on.
• Less Discounts, Taxes in prices (when your prices include tax) and Refunds and price reductions made in those days, without the tax in them, gives Net sales, without tax and shipping. This is why Finance’s net sales are lower than Sales on Home and Analytics, which are what customers paid, tax and shipping included. A lowered price counts once: when you lower the price of a paid order and refund the difference, that refund is not taken off again. Nor is a refund of money the customer paid too much (a second payment, or a payment that came after you refunded the order in full): it was never a sale.
• Plus Shipping and fees charged to customers, less the shipping you refunded (without its tax) and the payment fee’s share of each refund (a refund of the whole order gives the whole fee back): the fee’s share comes off here, not off net sales, each part without its own tax.
• Less Cost of goods sold: the cost each order kept for what it sold, from the Cost per item on your products. Units sold without a cost are counted at nothing, and Finance says how many, with a link to add costs to your products.
• Gross profit, with its Margin.
• Plus Tips, when customers added any at checkout: what they tipped, less the tips your refunds gave back, without the tax in a taxed tip. Tips are no sale, so they are outside net sales and the margin, and inside net profit. If you pass tips on to your team, enter that as an expense.
• Plus the income and less the expenses you entered, each on its own line by category.
• Net profit.

Income and expenses

Under Income and expenses, add what Storeloom cannot know, such as rent, advertising or a grant: choose the Type (Expense or Income), the Day, the Amount and its Currency, a Category and a Note, and Add entry. It counts in the profit and loss of the period its date falls in. Edit changes an entry and Remove deletes it, after you confirm.