OrderMetrics allows you to enter custom costs so we can calculate accurate margins. We call these custom costs “Custom Spends”. The Custom Spends feature is only available in the Pro plan.
These are usually costs that cannot be captured by OrderMetrics automatically. For example:
- Influencer marketing costs
- Subscription fees for software (e.g Shopify, OrderMetrics, QuickBooks)
- Ad spend from an unsupported platform (e.g Pinterest, Taboola)
- Adjustment for chargebacks
All custom spends are subtracted from your gross profit while calculating net profit.
Creating a Custom Spend
To create a custom spend, head over to Data Warehouse > Custom Spends and click on New Custom Spend.
We will start with a simple example: a $100 payment made to an influencer on August 10. This is an example of a “One Time” custom spend, i.e the cost does not repeat on a given frequency. Here’s how you would set this up as a custom spend in OrderMetrics
OrderMetrics also allows you to create recurring custom spends. For example, if you pay a fixed $30 per month for your QuickBooks subscription, here’s how you would create this custom spend in OrderMetrics
This way we will create a repeating cost of $30 for QuickBooks. The cost will be spread over the duration of each cycle. So in the above example, for the month of June, we will spread the $30 over the 30 days starting June 1 and ending June 30. This means if you set your dashboard to a date range of June 1 - June 15, the amount we will account for will be $15.
Similarly, if we set the dashboard to June 1 - June 30, the full $30 will be accounted for
This video shows how Custom Spends work