I am trying to set-up e-commerce tracking and see the code, but am unclear to what level it is cut and pasting the code, or if I need to change parameters for it to actually track.

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Step 6 of our free Google Analytics Set-Up Guide (pages 19-22) goes into detail on how e-commerce tracking works within Google Analytics. Each field will need to be dynamically populated with values pulled from your back-end system.

Using the setup guide as a reference, the following line in the hidden form:

UTM:T | order-id | affiliation | total | tax | shipping | city | state | country

should actually be populated with real values generated on the fly. So when the hidden form is created on the actual "Thank You" page it will dynamically pull in the actual values from the order causing it to look something like this:

UTM:T |123456|mydomain.com|44|3.23|11.89|Springfield|California|USA

How the values are pulled in will depend on the back-end system you are using. Talk with your vendor to determine what values you are able to pull in.