A commission calculator, or commission tool, helps business leaders or reps calculate the amount of commission that their salespeople earn. Commission calculators typically take into account the sale price of the product or service, the commission rate, and any applicable bonuses or incentives.
Different types of sales commission calculators exist both online and offline. For instance, you could calculate commission in Excel or use our free sales commission calculator template.
Our commission calculator includes four inputs that will allow you to calculate commissions, manage deals and pipelines, and calculate on-target earnings (OTE).
These inputs are base salary, commission rate, quota, quota frequency, and OTE. From there you can export your closed/won deals into the “Deals” tab. Then head to the “Monthly Totals” tab to keep track of your quota attainment goals and monthly commissions.
To calculate sales commissions automatically without a spreadsheet, check out QuotaPath’s sales incentive compensation platform. By automatically syncing with your CRM, we’ll feed in your team’s pipeline data so that you and reps can visualize total earnings, as well as potential commissions through a forecasted pipeline view.
QuotaPath’s commission tracking software provides a number of benefits for businesses, including
Accuracy: Ensure that commissions are calculated accurately and consistently. Avoid disputes between Sales and Finance teams.
Efficiency: Save time and resources by eliminating the need to manually track commissions.
Transparency: Provide transparency to salespeople about how their commissions are calculated and build trust and morale among the sales team.
Compliance: Comply with regulations related to commission payments and protect your business from legal liability.
Scalability: Scale to meet the needs of your business as you grow without having to worry about if your commission tracking system will become outdated or inefficient.
Talk to our sales team to learn more.