In the legacy OrderMetrics, users had to manually enter the transaction fee rates for every payment gateway. We would calculate the fees for every order in real time based on the rates defined by the user. This model presented technical challenges and caused confusion among users. The previous implementation also required users to manage the transaction fee rates themselves. This became significantly more complex as merchants matured and found ways to reduce their fees.
With the release of the all-new OrderMetrics, we have decided to pull transaction fees directly from the sales channel. At launch, this means we can automatically pull the exact transaction fees for all orders processed by Shopify Payments. Support for other payment gateways (e.g Stripe and PayPal) is coming soon.
This model leaves no room for inaccuracies, as the exact transaction fee amount is pulled from the source. Additionally, in the legacy OrderMetrics, transaction fees were attributed to individual orders. Similar to the change with shipping costs, we have decided to apply transaction fees as an aggregate daily sum instead of applying them per order.
In the all-new OrderMetrics, we will automatically sync transaction fees for transactions processed by the "Shopify Payments" gateway. Any other payment gateways (e.g Stripe and PayPal), you will need to manually enter transaction fees under Operating Costs.
Note: In the all-new OrderMetrics, newly created operating costs are automatically split across each day of the month. For example, if you create an operating cost of $1,000 on Jan 17, we will split this $1,000 across each of the 31 days in January. So your operating cost for Jan 17 will be $32.25, not $1,000.
Also, new operating costs you create will be adjusted in your metrics at the next daily sync. For example, if you create an operating cost at 5 pm local time, it will be factored into your metrics at 12:00 am local time next day (when the next daily sync occurs).
What will happen to my historical transaction fee data from legacy OrderMetrics?
For all orders processed via Shopify Payments (historical and new), we will automatically pull the exact transaction fee from Shopify. For your legacy OrderMetrics orders that were processed by other gateways such as PayPal or Stripe, we will import the historical transaction fees as daily aggregates, up until the date you migrated to the all-new OrderMetrics. This way, your legacy data will stay accurate.
You can view these legacy transaction fee imports under Data > Operating Costs. See example below.