THIS JUST IN!..
Visit Nerd’s School Of Business and get access to the entire sales commission course, the template, and the videos all for one fixed monthly price. This will also give you access to everything else I offer as I add things in!
Nerd’s School Of Business
- Video and Template Included!
- Run the reports you need in QuickBooks and calculate your commissions in minutes.
- Eliminate questions to save time and money with the reports you can send to your sales reps.
- Create other powerful tools – bonus section at the end teaches you how to write the formulas in MS Excel.
Here’s what you will master in this combined QuickBooks and Excel video tutorial:
- Create the sales rep in QuickBooks.
- Set up a custom field in QuickBooks to track the commission rate.
- Create a customized Sales Rep List Report In QuickBooks.
- Recording the sale in QuickBooks – how to make sure your sales reps get credit and how to include/exclude line items from commissions.
- Creating the commission report in QuickBooks for use with the Excel template included here.
- Learn how to Set up the report group in QuickBooks for easy access when you need to run and pay commissions.
- The steps and important options when you export the report to Excel.
- Using The Excel template Sales rep list.
- The commission sales report – dropping the QuickBooks export into the template to instantly calculate your commissions.
- See how to Review and the information for accuracy and completeness.
- Copy the report tab to customize a detailed report to be sent to the Sales rep so they know exactly what they were paid on.
- Bonus Video Included: How to write the formulas in excel to make the template work.
- Note – you have the template anyway, but knowing how to write the formulas will enable you to create other powerful tools on your own.
When you complete your payment you will receive an e-mail with a zip file containing the following:
- The video file (MP4 – will play on MAC or PC)
- The Excel Template
- The QuickBooks file used in the video.
Hi-
I have been searching for a program like yours – I am very interested in buying and using your Sales Commission product, however, I have a bit of a complication, we pay commission on when payments (full or partial)are applied to invoices (not when pre-payment is received, not when unpaid invoices are created). How would your program handle this? How about partial payments?
Could you please contact me so I can explain my needs?
Thank you,
Anna Casey
That all comes down to how you run the reports in QuickBooks. You would want to run them on a cash basis so you are only giving credit to sales people for the portion of sales that are recorded as having been paid in QuickBooks. So you would run your sales by sales rep on a cash basis, and this would solve your issue.
I am interested in purchasing this, however the company I work for calculates commission based on profit – the sales person gets 50% of the profit on the item the sell. Can this template help me? I cannot find a report that I can run with the sales person that shows the actual cost vs sales price. Thanks.
Unfortunately the sales person is tied to the individual sale. Even thought you a assign a sales rep to a customer, the income is not picked up with the sales rep unless it is assigned on the invoice. You could try running a P&L by job and then filtering for a sales rep. That way you might be able to see the net income on the jobs that show up on the report and use that as the basis for your calculation, but I haven’t tried that so I cannot guarantee you it will work
Before I purchase your product I would like to know if we can set up a customer profile so that all invoices for a particular customer can be automatically applied to a sales rep. Is that something your product will teach?
You can assign a sales rep to the customer in the customer profile and the video shows you this, but the assignment on the invoice is not automatic. you still need to make sure that you assign the sales rep on the invoice or the sales receipt.
Hello,
I am just starting out with the accounting side of QB for my company. Our salesmen can offer discounts/incentives, as well as take a draw on the first check received for a sale. Will your video explain how to include that on the QB template and excel? Thanks.
The discounts are handled within QuickBooks. Then it is just a matter of whether the sales person’s commissions are calculated before or after the discount. The video shows you how to have line items on the invoice with a custom code so you can indicate what should or shouldn’t be able to include in the calculation of commissions. For example you would not want to pay commissions on what you charge your customer for shipping. The video shows you how to exclude that using my template. Draws are also something that would be handled in QuickBooks. All that is, is a pre-payment on their sales commissions. So you would use my template to calculate everything and then when you go to enter the bill in QuickBooks you would reduce it for any draws they took with a negative line item in the bill’s split detail going against the asset account that would have been used when you paid the draws out.
So the template has at it’s core one basic purpose. To help calculate the sales commissions by doing what you cannot do in QuickBooks, which is to apply the commission rate to the total sales generated by that sales person. This means factoring in anything that would impact the amount of sales commissions due (ie what is included in sales, discounts, shipping, etc..). Draws are simply a function of paying out what is owed and not part of the sales commission calculation itself.
I hope this helps and Happy Labor Day!
That definitely helps, thanks, one other question, out of the commission, we break it down between 5 people, with different percentages for each, that is easy to do as well?
Not on the same sale. You are able to assign only a single rep to a sale in QuickBooks. Different rates for different people can be accomplished using the custom fields demonstrated in the video.
If you have more than one sales person to be paid on a single sale then you would have to do some manipulating in Excel while you are doing the calculation. I could show you how to do this in a private training, but I would suggest learning everything else first and then you can schedule private sessions with me at QuickBooks Answers
I just learned that the company I’m going to work for only uses Quickbooks online, is all of this possible?