Announcement

Collapse
No announcement yet.

How to calculate commission??

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • How to calculate commission??

    I searched through the forum a dozen times for calculating commission, but still can't find a solution.

    My company use QuickBooks 2005 Premier Edition. Each item that we carry has different rate (price level) by precentage. Our rep earn their commission by the price of the item.

    For example:
    If they sale an item with base sales price + price level 10%, their earn 20% commission of the total sale price.

    If they sale an item with base sales price + price level 20%, their earn 24% commission of the total sale price.

    If they sale an item with base sales price + price level 30%, their earn 28% commission of the total sale price.

    Sorry I don't know how to explain it better.

    My question is, is there a way to calculate commission? I tried to find if there is a way to show price level precentage or price level name on Sales rep report, but no solution. I tried to use Excel to calculate the commission by exporting the report with class column, which I set it as commission rate with different precentages, but then our rep can sometime mistakely (I hope) put wrong commission rate.

    Is there a way to export the price level information per item in a sales report? Or is there a way to create a column or field to directly related to the price level? (For example, when I select a price level, the column will also change to the precentage or information I need)

    Sorry again for dumb question, but I hope someone here already has the answer.....this problem is killing me :S

  • #2
    Since noone elase replied, I will give it a try. First off, I added a custom field to my inventory items called commission. Now, when i add a new item, I also enter the comm. rate as a decimal (10%=.1). On work orders, I added that column to show only (not printed). When i add an item to an order, it will fill in the comm. rate associated with it. It is editable at that point too if need be. End of the month, I run a commission report, filtering on paid invoices only and sort by sales rep. I do export to excel and then add a column that will auto multiply the comm. rate by the sale prices. total by rep, and there is your comm.
    Understandably, you have different rates for the price of the item, but I do not think QB can handle that. This is one thing they have yet to consider.
    Also, in my view, it is your responsibility to make sure the rep uses the right rates, prices, etc. They are reps, never forget that.

    So maybe this scenario will work for you.
    Michael D.

    Comment


    • #3
      End of the month, I run a commission report, filtering on paid invoices only
      Do you mean "Invoices where payment was recieved within a certain time period"? I guess this means I need to access the date in which the payment was recieved. I am assuming that this can be filtered using the "Paid Through" field.

      If so, I wonder if you would explain how you select only paid invoices? Since I am very new to Quickbooks, can someone confirm that I'm doing it the correct way:

      1. I run sales by item detail report.
      2. Select "Cash" as the report basis.
      2. Filter on Transaction Type = "Invoice"
      3. Filter on Paid Status = "Closed"
      4. Set custom date range for "Paid Through"

      I then plan to write some Excel VBA code to do the calculations, but I wanted to make sure the results are correct before writing the VBA code, as the report will be the template for the all future commission reports.

      Thanks in advance.

      Comment


      • #4
        Hi,

        I posted an answer to this in another post, but anyways the best you can do to track commission in quickbooks is
        Create sales rep, then invoice the customer for the total amount, assign a sales rep on that transaction.
        Runa sales by rep summary or detail report to know the total amount of sales made by all reps and then manually calculate whatever % you want to pay your reps, or else export it to excel and key in the formula to calculate it for you.

        Lemme know if that helps

        Jimmy.

        Comment


        • #5
          Just wondering if you found a solution yet? If you're still looking for a solution I can tell you how I do the comm report for our Co.

          Comment


          • #6
            Commission Report

            Please help. I'm still struggling to do a commission report that helps us:
            1. pay commission on invoices that got paid in the reporting period (month);
            2. show price level so that we can calculate appropriate commission rate (using Excel).

            Thanks a lot.
            Manh Hoang

            Comment


            • #7
              You can get a report on invoices paid by running the report in Cash Basis. I do not think that you can get the Price level on the reports.
              Joe Williams
              joewilliams@wavelinx.net
              Piedmont, Ok

              Comment


              • #8
                Commission report

                You may need to use a 3rd party tool to calculate commissions.

                We have been doing that for clients for quite awhile now.
                Al Buchholz
                QReportBuilder Professional Services
                http://bookwood.com/services/qreportbuilder
                Weekly QReportBuilder Webinars -every Thursday
                http://bookwood.com/webinars

                Comment


                • #9
                  Commi5ssion

                  Quickbooks now has apps that connect with the desktop version. There is an app for calculating commission that makes it extremely simple and you dont have to enter information twice. just go to "workplace intuit apps" and search for sales/crm apps. and u should see the one for calculating commission.

                  Comment

                  Working...
                  X