The “Profit” shown in Workspace is an estimate of what may remain from a sale after the costs Workspace can identify. It is not the same as the profit in your financial accounts.
Workspace cannot see every cost of running your business, including your time, editing, marketing, insurance, equipment, packaging or third-party production costs.
Queensberry-fulfilled products
For a Queensberry-fulfilled product, the estimate begins with the retail sale and allows for the transaction values Workspace can identify, such as the Queensberry product cost, relevant discounts, tax settings and other charges recorded for the sale.
The exact amounts visible in the Sales Tracker depend on the order and your account settings.
Self-fulfilled products
Workspace does not charge commission on self-fulfilled products. However, Workspace does not know what it costs you to make, source, pack or deliver them, so those costs cannot be fully reflected in the estimate.
Payment-processing fees
Stripe processing fees form part of the real cost of accepting an online payment. Review the transaction in Stripe as well as Workspace when working out what you retained from the sale.
Use the estimate as a pricing guide
The estimate can help you compare prices and understand the visible costs of a sale. Use your own accounting records to calculate your actual gross margin and net profit.
Tax treatment depends on your business and location. Ask your accountant or tax adviser how to record sales, costs, fees and tax in your accounts.
