 Hello everybody, today we are here with Nero Erlich, who is a professional in how to calculate the profits of your e-mail dropshipping business or actually any business in general. So I asked Nero to come here today and show you how to calculate your profits. And actually the first step for this is how to get your reports from PayPal to make these calculations. So Nero can take it from here. Enjoy. Hi Leo, hi guys. So my name is Nero Erlich. I'm from my profit platform. Basically it's a system that calculates total profit for eBay business. And today I want to talk to you guys about PayPal Monthly Report. The report is a business report that can provide you all the activity in a specific month that you choose. This will generally help you to understand the income of your business and help you understand your performance. So first let's talk about when and how. When do we need to download this file? You must do it in the first day of every month, because in this specific day you need to analyze your store's last month performance. Now I will show you how to download it. I will log into my PayPal account now and I will share my screen so you can see how it's done. So let me just share my screen. You can see it now. So the first thing you have to do from the summary, you click on reports. And after the reports you have to click on financial summaries. Under financial summaries you can see the monthly sales. And then you have two options to choose. The first one is to choose the relevant currency that you are working with. I will choose Euro for this example. And the other thing is the specific month that you want to choose. So just for the example I will choose November. The last November I will create the report. And basically just after you will click it, you can see the report in the PayPal web. But if we want to analyze it and to play with the numbers, I recommend that you will click on the download report to the Excel. Now I will share the Excel file and I will show you what is the basically relevant data that you need to take from here. Now I will share you the Excel file. Here it is. So there's a lot of data and there's a lot of numbers and I want to make everything in order. So I will explain the first column. The first column is column A. You can see the dates. This is the dates of every transactions that you made with your customers in this specific month. The next column, column B, is the payment received. This means this is the number of transactions of businesses that you made with your customer in this specific month. For this example, I can see I rolled down. The total is the most important thing for me to show you. I made 73 transactions in this specific month. 73 sales. Now let's go to the next column. The next column is amount received. This is basically the money that you got from your transactions for every business. You can see the dates. Just for example, I will show you this. The date was the 30th of November, one transaction, and this was the amount. So the total amount that I've got from my customers is 1,560 euro. The next column is column D. The value of this is fees. This is pay for fees. As you know, PayPal takes you fees for their services. In this specific month, I paid PayPal 90 euro fees. The next column is column E, refund sent. As you know, there are cases that your customers ask you for refund of their products. After you send the product back to your suppliers, they get their money back. This is the amount of the cases of the refund. In this specific month, I had eight cases of refund. The most important thing for me to understand was the value of the refund. The next column is amount refunded. You can see in every place that we saw a number in column E. Just for example, now here I see one refunded and the value of this refund was 44 euro. So the total refund of all this month was 308 euro. It is important for you to understand that this is a part of the amount received. So basically if I got from my customers 1,560 euro, I paid back some of the customers this amount. The last important data that you have to understand, a lot of eBay sellers doesn't know this data, but PayPal pays you back. We saw that they take you fees for 90 euro, so there is the opposite case. So when every place I refund my customer, I get a fees back from PayPal. You can see in the line where I paid 44 euro for the refund, I got 2.76 euro back to my income cash. So this is basically the four must knowledge that you have to understand. I will summarize it. In column A, we see the dates. In column B, we see the number of transactions. In column C, we see the amount, the total amount of cash that the customer paid us in this specific month. The next one is the total fees that we paid PayPal. The next one is the number of cases that we refund our customers. The next after that is the amount of refund that we paid our customers. And the last one is the positive fees that PayPal gave us back. So basically, this is the monthly report and we must understand we have to download it every first day of every month because this gives us a lot of data about the performance of our business. So we are taking this every first month and then you check all of your data here. Exactly, exactly. There is no other way of doing it. One very important thing which I wanted to add for people to know, a lot of invoices, companies don't give invoices, don't create invoices for the fees. So it means that we pay fees to PayPal and then we don't get money back for this for taxes. So this is something which is very, very, very important because for example, we are in Autodesk so the first half year we didn't know about this and we just lost a lot of money then we got it back but it's something which is very, very important to know. I think that this was very, very, very useful and it will help a lot of sellers. Thank you, Neil. Thank you guys. Bye-bye. Bye-bye.