Xero is an accounting software companies use to pay bills and claim expenses. Any business that offers commissions, bonuses or incentives for its employees can use Xero to pay them.
However, you cannot calculate commissions using Xero. For instance, if you have a commission plan for your sales team, you cannot use Xero to add the deals and calculate commissions.
The calculation has to happen elsewhere such as spreadsheets or commission calculation software. Once the calculation is done, you can add the calculated earnings or commissions and pay them using Xero.
Read: How to pay commissions using Xero
How to perform incentive calculations on Xero?
As Xero doesn’t have an in-built feature for calculating commissions, you need external incentive calculation software that can integrate with Xero and perform commission calculation.
Xero x ElevateHQ - A commission calculation solution
Here’s how ElevateHQ helps with commission calculation:
- 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.
- 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.
- 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 Xero
Here’s how you can integrate for seamless collaboration between commission calculation and payout:
Step 1: Login to ElevateHQ
You can login with your credentials ot Google SSO and navigate to “Data & Integration” and then “Integrations.”
You can find Xero using the search bar or just by scrolling through our list of integrations.
Step 2: Login to Xero
You can login to Xero with your credentials to the integration.
Step 3: Configure your Xero
In this step, all the fields are automatically filled out. You have to add the start date according to the specified format.
Step 4: Set up data mapping
Select the fields that you want to map by clicking on the check boxes. You can also set the frequency at which the data from Xero will sync with ElevateHQ.
Step 5: Confirm and integrate
Check if you have added the right fields required for integration. You can go back to the previous step if you want to make edits.
Integrate a commission software with Xero for commission calculation
If you are using Xero to process commission payments and want to include commission calculation, you must integrate a commission or incentive calculation software with Xero. You can subscribe to ElevateHQ, a commission calculation and automation software and proceed with the integration.
However, if you are looking for free tools, you have to manually do it on spreadsheets such as Excel or Google Sheets.
