Spreadsheet or Profit Software? When Excel Stops Being Enough
By ProfitIQ · Updated · 3 min read
When a spreadsheet is the right answer
Do not buy software you do not need. A spreadsheet works well while all of these are true:
- You sell through one channel and ship a few dozen orders a week.
- You have a handful of products whose costs rarely change.
- Returns are rare and you pay for shipping in one simple way.
- One person keeps the numbers and is happy to update them.
Where spreadsheets break
- Data entry. Orders, fees, courier charges and ad spend all have to be exported or typed in. The sheet is only as current as the last person to update it.
- Changing costs. When a supplier’s price moves, old orders should keep their old cost and new ones should use the new cost. Sheets overwrite.
- Several channels. Each platform exports a different format, with different treatment of tax, fees and currency.
- Returns and cash on delivery. A parcel that comes back changes an order’s profit days later. Tracking that by hand means revisiting rows.
- No history. When a number changes you cannot say why or who changed it.
- Shared use. Two people editing one file is how formulas get overwritten.
Side by side
Cost to start
- Spreadsheet:
- Free
- Profit software such as ProfitIQ:
- Free plan available; paid plans from $19 a month
Getting orders in
- Spreadsheet:
- Export and paste, or type
- Profit software such as ProfitIQ:
- Connected stores sync automatically
Courier and fee data
- Spreadsheet:
- Typed or pasted per order
- Profit software such as ProfitIQ:
- Read from courier tracking, settlements and platform reports
Several channels
- Spreadsheet:
- One sheet per channel, merged by hand
- Profit software such as ProfitIQ:
- One ledger and one formula for all of them
Cost of goods
- Spreadsheet:
- One column, overwritten on change
- Profit software such as ProfitIQ:
- Weighted-average cost from purchase orders, with history
Returns
- Spreadsheet:
- Edit old rows
- Profit software such as ProfitIQ:
- Order profit updates when the parcel is marked returned
Explaining a change
- Spreadsheet:
- Not possible
- Profit software such as ProfitIQ:
- Each change to an order’s money is recorded
Flexibility
- Spreadsheet:
- Total: build anything
- Profit software such as ProfitIQ:
- Fixed screens and reports
Flexibility is the one place spreadsheets win
If you want an unusual calculation, a spreadsheet will always let you build it. Software gives up that freedom to get automation, consistency and an audit trail. Export from the software when you need to go further.
Signs it is time to switch
- You are keeping the sheet up to date more often than you are reading it.
- You sell on a second channel, or start advertising on a second platform.
- You take cash on delivery and need to know which parcels were paid and which came back.
- Two numbers in two files disagree and you cannot tell which is right.
- An accountant, partner or teammate needs to see the figures without asking you.
Moving from a spreadsheet
Your existing product costs are the valuable part. ProfitIQ can import products and costs from a CSV, so the cost column of your sheet carries straight over; orders then arrive from your connected stores. See how profit is calculated for what the software does with them.
Try it on your own numbers
Connect a store on the free plan and compare ProfitIQ’s figures with your sheet’s for the same orders.
Frequently asked questions
Can I track e-commerce profit in Excel or Google Sheets?
Yes, for a small single-channel store. You need one row per order with revenue, cost of goods, shipping, fees and refunds, and a monthly total that subtracts ad spend and expenses. It becomes hard to maintain as channels, products and returns grow.
What do spreadsheets get wrong most often?
Costs that are overwritten instead of versioned, returns that never reach the original row, and tax and currency treated differently on each channel, so the totals look right but do not add up.
Can ProfitIQ import my spreadsheet?
Products and their costs can be imported from a CSV. Orders normally arrive by connecting your store, and orders from channels without a connection can be imported by CSV too.