Multi-channel contribution margin, clarified.

E-commerce
finboard.app / ecommerce
Live
Contribution margin · by channel
Net of all fees
Shopify
$312k
38%
Amazon
$248k
24%
Wholesale
$96k
44%
Gross → contribution
Gross revenue
$656k
− Fees
$62k
− Shipping
$48k
− COGS
$262k
Contribution
$284k
Blended CAC $28 · payback 2.1 mo
When one channel becomes many

Finance problems when one brand or channel becomes many

Every new marketplace and entity adds a fee waterfall, a reserve and a state to file in. The bank deposit stops meaning anything.

Payouts arrive net of fees
Gross product sales$1.00M
Referral + FBA fees($245K)
Sponsored ads($70K)
Refunds & reserve($95K)
Net deposit (59%)$590K
Contribution hides by channel
Contribution
34%
22%
Shopify CM4Amazon CM4
Same SKU, 12-pt gap
Blended MER masks acquisition
Brand A
4.8x
2.9x
Brand B
3.6x
3.4x
Brand C
2.4x
1.6x
Blended MERNew-cust MER
Breakeven 3.3x
Sales-tax nexus tripping
California$742K
Texas$610K
New York$430K
New Jersey · 214 txns$88K
Registered where crossed · Wayfair thresholds
Subscription revenue booked early
Cash billed$1.4MDeferred$1.28MRecognized/mo$117K
Multi-currency by spreadsheet
US entity
$22.4M
UK (GBP)
$7.8M
EU (EUR)
$5.9M
Eliminations -$3.7M -> $32.4M group
The rules of the game

Reporting standards e-commerce runs on

ASC 606, Wayfair economic nexus, contribution-margin accounting and ASC 330 landed cost decide whether your numbers are real.

Group P&L · contribution
All channels · to GL
DTC P&L
Amount
% rev
Gross revenue (GMV)
$38.4M
100%
Discounts, returns, chargebacks
$6.1M
15.9%
Net revenue
$32.3M
84.1%
Landed COGS
$12.6M
32.8%
Fulfillment & platform fees
$7.4M
19.3%
Payment processing
$1.3M
3.4%
Variable marketing (4.7x MER)
$6.8M
17.7%
Contribution margin
$4.2M
10.9%
Net revenue and variable marketing are the two rows a DTC operator manages to.
Channels · contribution
CM % of net
Channel
Revenue
CM
Shopify DTC
$14.2M
34%
Subscription
$5.1M
41%
Wholesale
$6.4M
28%
Amazon FBA
$9.6M
22%
TikTok Shop
$3.1M
9%
Blended contribution margin13% · target ≥ 30%
01ASC 606 · revenue recognition

Prepaid subscriptions sit in deferred revenue; marketplace principal-vs-agent decides gross vs net.

02Economic nexus (Wayfair)

Every state can require collection once you cross ~$100K sales or 200 transactions.

03Contribution-margin accounting

Fees, fulfillment, returns and ads stack into a CM ladder so erosion is visible by channel.

04ASC 330 · landed cost

Inventory carries full landed cost; outbound shipping is a selling expense below gross profit.

Deferred-revenue schedules release themselves and nexus alerts fire before you trip a threshold. FinBoard keeps it clean.

Connects to your stack

The tools you already run.

FinBoard sits on top of Shopify, Amazon, Stripe and your GL, decomposing every settlement into gross sales, fees, refunds and reserves.

01Live connectors
SShopify
aAmazon
stStripe
NSNetSuite
avAvalara
02Your full finance stack
Month-end close
Close & controllership
Consolidation
Group close
Analytics
Reporting & dashboards
FP&A
Planning & forecasting
Procure-to-Pay
Accounts payable
Order-to-Cash
Accounts receivable
Beyond e-commerce

Not in e-commerce? We've got you covered.

Restaurants
Multi-location restaurant groups
Construction
Contractors & project accounting
Retail
Multi-store operations
Healthcare
Clinics & multi-site practices
Software & Services
SaaS & professional services
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