Profit and loss, tax to set aside, and client lifetime value

My Analytics now carries a profit and loss statement under the revenue tiles, a card that estimates what to put away for tax, and a client lifetime value panel. All three come from the payments you collect and the expenses you record, so keeping those up to date is what keeps these figures right.

Read the profit and loss

1. Open My Analytics and scroll to Profit & loss.
2. Pick a period type: Month, Quarter (BAS quarters, July to September first), Financial year (1 July to 30 June) or Custom dates. Then choose the period from the list.
3. The headline is net profit for that period. Underneath, Income lists what clients paid by payment type, less refunds. Costs lists Stripe processing fees, TrainerStack platform fees, then your expenses by category.

Your TrainerStack subscription is already recorded as an expense each time it is charged, so it appears under Software & Subscriptions and is never counted twice.

GST

Tick Registered for GST in the tax card if you are. The statement then shows income and costs ex GST, with a GST block that totals the GST collected inside client payments (one eleventh of each), the credits on your expenses and on the TrainerStack fee, and the net amount payable or refundable. Stripe fees are shown as charged with no GST credit claimed; ask your accountant whether to claim it.

Leave it unticked if you are not registered. Everything is then shown as paid, and there is no GST block.

Export for your accountant

• Export CSV downloads the statement with its income, costs, net profit and GST sections. The filename carries your business name and the period, like the revenue and expenses exports.
• Print / Save as PDF opens the print dialog with just the statement on the page. Choose Save as PDF in the dialog to keep a copy.

For the detail behind the totals, the revenue export at the top of My Analytics and the expenses export on the Expenses page list every payment and expense in the period.

Set aside for tax

The Set aside for tax card shows income tax on your profit for the financial year so far, at the rate you choose, plus the GST owing for the current BAS quarter if you are registered. Type a different Rate to set aside and it is saved as you go. The default of 30% is only a starting point.

It is a rough guide for budgeting, not advice. It only sees what is in TrainerStack: other income, deductions outside the app, the tax-free threshold and offsets all change the real figure, so settle the rate with your accountant.

Client lifetime value

Client lifetime value is what a client pays over their whole time with you, all time rather than for the period above. The tiles show the average per paying client overall, for coached Clients and for self-serve Members, with the average length of the relationship beside each. The table below splits the same figures by the offer each client bought; payments that did not come from an offer, such as casual sessions, sit under No offer.

Clients who have not paid yet are left out of the averages, so a new sign-up does not pull the number down before they have had a chance to pay.