How can I calculate the profit per invoice in order to pay commissions on profit?

Pipe3001 · ‎December 19, 2018

Hi there,

I currently use quickbooks online and this is something that we have been trying to do for years!!!
We pay our sales reps based on profit per invoice (Selling price - cost of product).

We have been doing the profit liquidation for years in excel but we are completely tired of this.

Is there any way to get the report of the profit per invoice in quickbooks online? Anyone there having this same issue and can help?

Thanks in advance for your time,

Andres

btw, I have tried:
*Sales by Class Summary (Each sales rep is in Class)
*Profit and loss by Class (But this one doesn't show the cost of good sold of the product the sales rep sold.

IamjuViel · ‎December 20, 2018

Thanks for the great suggestions, @Pipe3001.

Our goal is to make QuickBooks as user friendly as possible and a one-stop shop for all small business owners like you.

With QuickBooks Online, you have the ability to customize your invoice form which include adding the names of your Sales Representative.

Here's how:

Go to the Gear icon.
Choose Accounts and Settings.
Select Sales.
Under Sales from content tab, click Custom Fields.
Type in the name Sales Rep on the first box..
Put a check mark on Internal and Public.
Click Save.
Hit Done.

Once completed, you can now add the name of the sales rep everytime you create an invoice, sales receipt, estimate and credit memo.

To run a report show sales per representative, here's how:

Go to Reports.
Choose Sales by Class Detail.
Under group by, choose Sales Rep.
Click Run Report.

You also have the ability to change the name of the report from Sales by class detail to Sales by Sales Representative.

On the other hand, Profit and Loss is a type of report that shows a detailed view of your income, expenses, and net income (profit or loss). Shows individual transactions. On the P&L the number in COGS is displayed as positive ( debit) the P&L does not show debits and credits unless you drill down. In cash basis reporting for sales, COGS is only posted when the sale is paid.

Lastly, feel free to send your suggestions for improvement and I'll do the same thing from my end.

Here's how:

Go to the Gear icon.
Select Feedback.
Enter your request/product suggestion, then click Next.
Click Skip and send message.
Select Feedback as the Category.

New features are often added to this app, so be sure to keep an eye on our blog for announcements: https://intuit.me/2L2zqTv.

That should do it! Let me know if you have any other questions about running and customizing reports in QuickBooks Online. I'd be glad to help.

View solution in original post

Anonymous · ‎December 20, 2018

Hello Pipe3001,

We currently don't have a report that shows profitability per sales rep or profit by invoice. The work around is to export different reports in Excel and merge them. As I can see, you're already doing it. You did a great job on that. For now, I'll send your feedback to our development team for review.

On the other hand, we have a couple of expert members here that can jump into this thread. They might give pieces of advice how they can handle this kind of situation.

We appreciate your time, and we're happy to help you if you need anything else.

Pipe3001 · ‎December 20, 2018

Hello,

thank you for your prompt response. That is a feature that we have been requesting for years and still QB won't come out with it, please submit it and try to prioritize it. I am sure there is a lot of companies with the same issue.

On the other hand, We are currently checking item by item of every invoice in order to identify the purchase cost and the sales price and calculating the profit in a manual way. If there is a way to export different reports in excel and merge them to do that in a faster way I would appreciate that insight. Anything that help us save time doing that tedious work. Currently taking a lot of time and time is money. This is a job that currently must be done by management and needs to be perfect in order for our sales reps to get the exact amount of commission earned.

Once again thank you for your input and I encourage anyone else that have the same issue to participate here and let us know how they are currently doing this to save time and money calculating commissions based on profit per invoice/per sales rep.

Andres.

Pipe3001 · ‎December 20, 2018

Hello,

thank you for your prompt response. That is a feature that we have been requesting for years and still QB won't come out with it, please submit it and try to prioritize it. I am sure there is a lot of companies with the same issue.

On the other hand, We are currently checking item by item of every invoice in order to identify the purchase cost and the sales price and calculating the profit in a manual way. If there is a way to export different reports in excel and merge them to do that in a faster way I would appreciate that insight. Anything that help us save time doing that tedious work. Currently taking a lot of time and time is money. This is a job that currently must be done by management and needs to be perfect in order for our sales reps to get the exact amount of commission earned.

Once again thank you for your input and I encourage anyone else that have the same issue to participate here and let us know how they are currently doing this to save time and money calculating commissions based on profit per invoice/per sales rep.

Btw, the Profit & Loss Report by Class DOES NOT include cost of good sold so everything shows as profit.

Andres.

IamjuViel · ‎December 20, 2018

Thanks for the great suggestions, @Pipe3001.

Our goal is to make QuickBooks as user friendly as possible and a one-stop shop for all small business owners like you.

With QuickBooks Online, you have the ability to customize your invoice form which include adding the names of your Sales Representative.

Here's how:

Go to the Gear icon.
Choose Accounts and Settings.
Select Sales.
Under Sales from content tab, click Custom Fields.
Type in the name Sales Rep on the first box..
Put a check mark on Internal and Public.
Click Save.
Hit Done.

Once completed, you can now add the name of the sales rep everytime you create an invoice, sales receipt, estimate and credit memo.

To run a report show sales per representative, here's how:

Go to Reports.
Choose Sales by Class Detail.
Under group by, choose Sales Rep.
Click Run Report.

You also have the ability to change the name of the report from Sales by class detail to Sales by Sales Representative.

On the other hand, Profit and Loss is a type of report that shows a detailed view of your income, expenses, and net income (profit or loss). Shows individual transactions. On the P&L the number in COGS is displayed as positive ( debit) the P&L does not show debits and credits unless you drill down. In cash basis reporting for sales, COGS is only posted when the sale is paid.

Lastly, feel free to send your suggestions for improvement and I'll do the same thing from my end.

Here's how:

Go to the Gear icon.
Select Feedback.
Enter your request/product suggestion, then click Next.
Click Skip and send message.
Select Feedback as the Category.

New features are often added to this app, so be sure to keep an eye on our blog for announcements: https://intuit.me/2L2zqTv.

That should do it! Let me know if you have any other questions about running and customizing reports in QuickBooks Online. I'd be glad to help.

Malcolm Ziman · ‎December 20, 2018

@Pipe3001 wrote:

btw, I have tried:
*Sales by Class Summary (Each sales rep is in Class)
*Profit and loss by Class (But this one doesn't show the cost of good sold of the product the sales rep sold.

The Profit and loss by Class WILL show the profit by sales rep, if each sales rep is a Class (not "in" a Class), and if you use inventory items. Do you use inventory items?

Pipe3001 · ‎December 21, 2018

Thank you very much for all your support!

This is a very easy way to explain how to get the actual reports for the sales rep. I realized that in order for me to get the COGS in the P&L report I had to check the report in ACCRUED basis. Now I am checking the P&L report in Accrued basis and I am being able to see the total income the sales rep brings to the company, the total cost of good sold by the rep and finally the profit so I can calculate their commissions.

Thanks for the help!

Malcolm Ziman · ‎December 22, 2018

@IamjuViel wrote:

Under Sales from content tab, click Custom Fields.

Once completed, you can now add the name of the sales rep everytime you create an invoice, sales receipt, estimate and credit memo.

It's a bad idea to use the custom field for sales rep because there is no drop-down list, so you have to type it in every time, and there is no validation of what you type, so errors of course will happen. Better to use Class, Customer Type or Sub-Customers, where you won't have to type in the sales rep every time

Pipe3001 · ‎December 22, 2018

Yes, we actually use CLASS for Sales Rep and TERRITORY to identify the different markets we sell to in order to track to which territories we are selling the most.

NeedToKnow · ‎March 11, 2019

Forget about in order to pay commissions.

I need to be able to show the gross profit per invoice.

How can I do this in a report for all my invoices individually

BettyJaneB · ‎March 11, 2019

Hi there, @NeedToKnow.

It's nice to have you in the Community today. I'm here to help share some information regarding having the gross profit to show per invoice when running a report in QuickBooks Online.

Being able to pull up a report which consists of the gross profit per invoice is currently not available in QuickBooks Online. However, you can pull up a transaction list by customer report and customize by invoices this will show the total amount of the invoices per customer. To see the invoice amount you can simply open the transactions individually.

To pull up the report:

Click on Reports at the left pane.
On the search box, type in Transaction List by Customer.
Enter your desired date.
Click on Customize.
Select on Filters.
Put a check-mark on the Transaction Type box.
Select in Invoice.
Then run the report.

From there you'll be able to see the gross profit of the customer's invoices and just open the transaction manually to see the profit per invoice.

To guide you with customizing reports in QuickBooks Online, feel free to check out this article: How to customize reports.

Also, I'd encourage you to visit our QuickBooks Online blog regularly, to know about the latest news and updates from QuickBooks including product improvements, company news, and leadership spotlights. We'll be posting here some features that would be beneficial for you and your business.

That should do it!

Please don't hesitate to reach out to me here should you have any further questions concerning QuickBooks, I want to make sure you're taken care of. Thanks for coming to the Community and take care.

DianeCPA55 · ‎January 10, 2020

It only gets me part of the way there. It doesn't allow me to post the actual commission due the sales person or in somecases multiple sales people. Still have to manually calculate the amount of commission due. Also how does that info get to the payroll system as commission

Jovychris_A · ‎January 10, 2020

Good to see you in the Community, @DianeCPA55.

Currently, it's unavailable to post the actual commission due to the salesperson or in salespersons.

In this case, I'll take this one as feedback and submit it to our product engineers. There they can manage and test the enhancements needed to sales, especially in posting the actual due to the salesperson's commission. It may take some time to work for a feature that follows due process.

We're unable to put the commission due to the salesperson or salespersons. You can manually enter the commission by going to the Workers menu. There you can either set an employee's pay to commission only or add commission as an additional pay type. Please use this article as your basis in performing the steps: Pay employees a commission.

In the future, you can also use the article to pay employees commission along with regular pay.

Please feel free to leave a message if there's anything else. I'm always here to help you. Take care!

Broken Wrestler · ‎June 30, 2020

Hi,

Has anyone yet been able to figure out a Profit by Invoice report hack? The whole point of me using quickbooks was that I needed to analyze how much % profit I am making on every invoice?

Someone mentioned we can download multiple reports and export them on excel to achieve that. Can anyone guide me which reports I should download? I'm still very new to quickbooks, but pretty good with excel, so just giving an idea would help.

Thanks

JamesDuanT · ‎June 30, 2020

Thanks for joining in on the thread, Broken Wrestler.

Yes, this type of report is still not available in QuickBooks Online. We have the Profit and Loss as % of total income report. However, it only has the summary amounts by accounts.

We can export the Profit and Loss Detail report to Excel. Then, create a formula with the amount of a single invoice divided by the total amount if income. After that, you can convert it to percentage.

You can also export the Invoice List to Excel and use if for reference. Get the total of the invoices. Then, get the income percentage of every invoice.

Those are the reports that I think we can export to Excel to get the income percentage of every invoice.

You can also visit this link on how to get profit percentage of your data: How to run a profit margin analysis for your small business.

I hope this helps. Please let us know how this goes so we can further check on this.

AllBlue · ‎July 06, 2020

Hello,

Is this feature going to be in Quickbooks any time soon? Merging spreadsheets and running different reports to get commission numbers is not a good use of our time. Simply adding "cost" as a column in the invoice reports would help us get the actual margins on our products and services sold.

katherinejoyceO · ‎July 06, 2020

Hello there, @AllBlue.

Thanks for joining this conversation. At the moment, we don't have the exact turnaround time as when will this feature be available in QuickBooks Online.

Please note that all our suggested plans are subject for further study. Any feature updates and improvements will be published in the QuickBooks blog.

I'd recommend visiting our blog site regularly to get you in the loop to what's new in our products and services.

For future reference, check out available resources in the QuickBooks Article hub. You'll find great topics related to your concern today such as customizing, memorizing, and sharing reports.

Let me know if you have more questions. We're always here to help in any way we can.

Natettu · ‎February 13, 2021

I would agree that this type of information per invoice would be fantastic. I'm currently looking for a program that will. Please add this!

AileneA · ‎February 13, 2021

Hello, Natettu.

I know the importance of having this kind of feature. I'll make sure to tap this to our developer's team. This way, having this kind of report might be given a chance to be included in the next product updates.

In the meantime, you may want to consider visiting our QuickBooks Blog. From there, you can see the future developments and the latest news about QuickBooks and what our Product Care Team is working on.

You can always get back here in the Community for additional QuickBooks related questions. Doing so helps us to further explain everything to you.

Doughydman1 · ‎July 29, 2022

Has anyone figured out how to do a report showing profit per invoice. It's very hard for me to believe that no one has needed to do this ever??? Is there some kind of workaround? Can I export to Excel? Need to get this figured out. I can't spend the time going through thousands of invoices to figure out profit.

AAgrawal121 · ‎January 10, 2024

Hey @AllBlue @Natettu @Doughydman1

We have built a tool to calculate this for further analysis. If you have a use case, we can get on a call and you can use our tool.

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How can I calculate the profit per invoice in order to pay commissions on profit?