Now, we are going to talk about payments!
Total Payments is the total dollar amount of payments received from your customers, during that time period. This takes out any coupons the customer may have had.
Product Revenue is the amount of revenue (sales) that came from Products vs other categories like Taxes or Shipping. Note the Product Revenue can be higher than the Total Payments if you are running a sales, since the Product Revenue is indicative of the Retail price of the item, not what the price of the item is after a discount is applied by the customer.
Shipping Revenue is the amount of shipping you charged the customer. Note that the cost will not be updated until you generate the labels for the orders.
State/County/Municipal Tax is not calculated and reported directly through CommentSold. Instead, you will need to access the information in your Avalara account. To learn how to set up your Avalara account, check out this link!
Cost of Goods Sold is the cost of the items that were purchased by your customers. For some reason, many shopping cart-like companies do not include this for their customers. This is extremely important to really calculate what your Gross Profit is. How can we tell you how much money you are making if we don't know how much the items are that you are selling!?
Shipping Cost is the amount you were charged for shipping. Note that the cost will not be updated until you generate the labels for the orders.
Gross Profit is calculated by taking the total payments received, deducting the sales taxes, the cost of goods sold and the cost of shipping.