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How to calculate commissions on QuickBooks?

How to calculate commissions on QuickBooks?

How to calculate commissions on QuickBooks?

Are you using QuickBooks for your business accounting but struggling to calculate commissions for your sales team or employees? 

Unlike commission calculation software, QuickBooks doesn’t have built-in features for commission calculations. 

However, fear not! With a few simple steps and the right approach, you can efficiently calculate commissions on QuickBooks. In this guide, we’ll walk you through the process.

How to perform incentive calculations on QuickBooks?

As QuickBooks doesn’t have a feature for calculating commissions, you need to integrate QuickBooks with incentive calculation software. You can integrate with tools such as ElevateHQ or Method for commission tracking.

Remember that you need to subscribe to a commission software for this.

QuickBooks x ElevateHQ - A commission calculation solution

Here’s how ElevateHQ helps with commission calculation:

  1. Create commission plans and automate: You can define commission rates, thresholds, and rules based on various factors such as sales performance, product types, and sales territories. You can automate calculations for different commission plans you create.
  2. Easy-to-use plan designer: You can do everything you do on spreadsheets and everything that spreadsheets limit you from doing. Our plan designer is user-friendly and you can set up complex plans easily.
  3. Easy integration with spreadsheets and CRMs: We integrate with your current data sources, including Excel, Google Sheets, CRMs and more. We sync real time and ensure the calculations are happening on the latest data.

How to integrate ElevateHQ with QuickBooks

Here’s how you can integrate ElevateHQ with QuickBooks to seamlessly calculate commissions and pay.

Step 1: Login to ElevateHQ 

Once you login navigate to “Data & Integration” and then “Integrations.”

You can find QuickBooks using the search bar or just by scrolling through our list of integrations.

Step 2: Login to QuickBooks

Click “Connect” and login to QuickBooks with your Intuit credentials for the integration.

Step 3: Configure your Quickbooks

In this step, all the fields are automatically filled out. You only have to add the start date according to the specified format.

Step 4: Set up data mapping

Click on the checkboxes to select the fields you want to map. You can also set the frequency at which the data from QuickBooks will sync with ElevateHQ.

Step 5: Confirm and integrate

Check and confirm. The integration is now completed.

Integrate with ElevateHQ for commission calculation

Whether you opt for manual calculations using spreadsheets or leverage commission calculation software, the key is to establish a clear commission structure and ensure accuracy in your calculations. 

By following the steps outlined in this guide, you can effectively manage commissions and its payouts easily.

Make payouts right every time with ElevateHQ

Move from manual to automated and error-free commission calculations with our platform.

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