How to Generate Year-End Reports for Your Shopify Store

We made it through 2018.

I hope it was a great year for you and your business!

Now’s the time to generate those year-end reports to get ready for tax time.

This article will show you how to export and save the reports you’ll need.

Let’s get started!

Generate Your Year-End Finance Report

One of the reports you’ll find helpful at year-end is your Finances Report.

This report will give you a financial summary, and will show you the total number of orders you processed, how many locations you’ve collected sales tax from, and how many payment transactions you had. Each piece of information in the Finances Report can be clicked on to show you the details.

The Finances Summary link will show you an overview of your sales, payments, liabilities, and gross profit for the selected timeframe. Within each section of the Finances Summary, there are links to the related reports.

View the Finances Summary Report:

1. From your Shopify Dashboard, click Analytics, then Reports
2. Click on the Finances Summary link within the Finances section
   
   The Finances Report page appears, as shown below.
   
3. In the upper right corner of the page, click on the Month to Date button and choose Last Year from the Date Range drop-down menu
   The Finances Report now shows you data from the previous year.
4. Click on the Total Sales link within the Sales section
   The Sales Finance Report will appear, as shown below. This is one report you will want to use for your tax return. NOTE: You can click on each order number to see the details of that order.
   
5. The information in the Summary row of this report is data you will need for your tax return
   – The Gross Sales figure equals the product selling price x the quantity ordered. It does not include discounts, returns, taxes, or shipping.
   – The Discounts figure are the discounts applied for each order.
   – The Returns figure is the value of goods returned by a customer. Refunded shipping charges and their taxes do not appear in this figure (they appear as negative values in the Shipping and Taxes columns).
   – The Net Sales figure equals your gross sales less and discounts and returns. Net Sales does not include shipping charges or taxes.
   – The Taxes figure shows sales tax collected on your orders. Positive numbers are the charges when the order was placed and negative numbers in this column are for returns.
   – The Shipping figure is a total of the shipping charges for each sale (or return). Again, a positive number for charges collected when the order was placed and negative numbers for any returns.
   – The Total Sales figure equals your gross sales less any discounts and returns, plus taxes and shipping charges collected.
6. To Export your report into a CSV format that you can then work with in a spreadsheet program such as Excel or Google Sheets, click the Export link at the top of the screen, then click on Full Report and click the Export button
   
7. Use the information from this report to help prepare your tax return
   For more information about the Finance reports, click the Shopify Help page for Finance Reports.

Generate Your Year-End Billing Report

Another report you’ll need at the end of year is the Billing Report. This report will show you the bills and fees you paid to run your store.

View the Statement of Charges Billing Report:

1. From your Shopify Dashboard, click Settings, then Billing
2. Click the View Shopify Account Summary button
   
   The Account Summary screen appears, as shown below.
   
3. Click View Full Summary next to Shopify Fees
   The Statement of Charges Report appears.
   
4. Click the date range button in the upper right corner of the page and choose Last Year from the Date Range drop-down list
   The report shows a summary of all your bills for the previous year. 
   
5. Use the information from this report to help prepare your tax return- the figures here show how much you paid to Shopify in the year in order to run your business
   You can click on any part of the information to see the details that make up the figures shown.

View the Payout Fees Report:

1. From your Shopify Dashboard, click Settings, then Billing
2. Click the View Shopify Account Summary button
   
   The Account Summary screen appears, as shown below.
   
3. The figure next to Fees is the amount of transaction fees you paid to Shopify for all the Shopify Payments received the previous year
   Use this figure on your tax return as another fee paid to Shopify.

There you have it! These are the reports that contain the data you will need at tax time.

If you have any questions, please post a comment below and I’ll be happy to help.