by Dave | thrivecart
Thrivecart recurring revenue, let’s talk about monthly recurring revenue. So I’m going to show you a script that will take all your ThriveCart data and normalize it to monthly results, doesn’t matter if it’s daily, weekly, every two weeks, monthly, quarterly, every six month, or annual subscription data it’ll normalize it down to monthly recurring revenue. So rather than get into the theory let me just show you how it works let’s dive right in.
The way the scripts works is, you wanna going to want to go into your thrivecart account to get started and click on Download CSV from your transactions, get all your history and then come back here upload it, submit and we’ll put it into a database. If for some reason it’s too large you’re going to want to put that CSV file into the directory that this is installed it will find it and upload it from there. So after that’s taken care of, you’re going to set up a web hook inside thrive cart to call back to this script or send information in the scripts are automatically updates going forward.
Next step is products, you have to define which products you want to use by telling it which which has a subscription, or do you want to exclude it. So this product here, I don’t recall, but I definitely want to exclude it from my results. If I scroll down to the bottom, these are down here are one time products, they are not subscriptions. So they get put at the bottom. There’s nothing to do it. They’re just there for reference.
So this is the product name. This is the product ID. This is the currency. I’ve also excluded this. This one right here is a monthly this one I haven’t added. I think I’ve got one annual that I’m listing here. Everything else shows up this month. So the reason I do that is for the next step. So when I define reports, singular or more than one I have to have already told it what type of subscription it is, or what’s the length is subscription. So those are the only ones that show up here as available.
Give a report or I mean optional description, give it a priority. The lower the number, the higher up it shows on your screen. In other words, the more important one and then you can select one or many. For instance, you can come in here you can make an adjustment. For instance, I’m going to edit this and I want to just point out you can mix annual with monthly six month it will normalize the results for it will do the math. So for instance, if it’s an annual product and it gets purchased, let’s say on January, the money will get split up 12 ways across the next 12 months. I’m going to add another one in here, I don’t know let’s put this one in with that along with the annual so I’m going to choose both of those. I’m gonna leave it as is go ahead and update it.
So now I blended monthly and annual into this other report. So I’ve got very important to find. Now the only thing I have to do is just log in and check the screen and I’ll be honest here I’ve kind randomize the data. So it might make it might not look right if you’re paying attention because if you know I just got one subscription, it should be flat. But for instance, this isn’t flat, that’s it really should be close to flat, I’m just randomizing the data. So this is the first one, which I said was exclusively monthly only, and it reports your revenue per month. This one is a combination of annual and monthly, and I want to point out something Today is September 2018. But notice this shows December 2018, that’s because this annual product was purchased on December of 2017, and then it got spread out over 12 months.
So you may argue that well, you can count this yet, but it has been spent and if it gets refunded, it’ll it’ll assembly get removed from this view all. That’s how you can display monthly recurring revenue from ThriveCart.