Commission Expenses

There are two ways to record commission expenses in cieTrade, and the methodology will be dependent on your relationship with the commission agent. The two classifications of commission reps are "internal" and "external".

Internal Rep: an employee of your own company.

External Rep: an agent of a company other than yourself.

Internal Commission Reps

Internal commission reps correlate to your own employees. If the commission rep is on your own payroll, then they qualify as an internal rep.

Setup

The first step is to add the internal agents to the system. You can add buy and sell reps to cieTrade by:

1. Navigate to Settings > Sales Reps.
2. Click + New Sales Rep to add a new one.
3. Enter the name of the representative.
4. Once finished, click Save.

Once you click save, the representative will be added to the system and referenceable on orders and worksheets.

Recording the Agent

Once your buy and sell reps have been added to cieTrade, you're ready to start assigning them. 

To add them a counterparty as the default reps:

1. Navigate to the Counterparty 

2. Click Edit

3. Under Other Detail choose a Primary and secondary sales rep, enter the charge amount and select the per unit for that charge. 

4. Click Save. These will be automatically pulled onto new Orders and Worksheets. 

On the Order:

1. Click Orders> Sales Orders+ or Purchase Orders + from the left-hand menu to create a new Order

2. Select the customer or supplier. The default rep will come into the Order. 

On the Brokerage Worksheet:

1. Create a Brokerage worksheet

2. Selecting the Customer and/or Supplier will populate the appropriate primary rep for each with the charge and UOM (if it was set up on the counterparty)

3. The rep rate and extension will show on the front of the worksheet

4. Under the Gross Profit snapshot the net profit will calculate. It is the Gross Profit- Commissions = Net Profit

Obtaining the Commission Amount

To obtain the amount of commission owed to your agents, you can use the Gross Profit by Sales Rep report. This report will show all of the transactional activity broken out by sales rep for a given period of time. Depending on how your commission payments are structured, you can use this report to find key information, such as the total cost, sales, and gross profit the agent was responsible for, and use those metrics to calculate how much money is owed in commission.

External Commission Reps

External commission reps are handled a little bit differently than internal ones. The reason for that is the need to create a payable in the system in order to pay them.

Setup

To get started, you'll want to have at least one general ledger account that is classified as 'Commission'.

Recording the Expense

To record the commission expense:

1. Navigate to the Shipping or Brokerage Worksheet, then open the edit page.
2. Under the Expenses section, click + Add Expense.
3. Select the Vendor the commission is for.
4. Within the "Expense" line, enter the price and unit of measurement for the charge.
5. If it's not already, make sure the Expense Account selected is one classified as 'Commission'.
6. Once finished, click Save.

Obtaining the Commission Amount

All of the expenses that hit a general ledger account that's classified as "Commission" will flow into the Commission Expense reports.

If you have additional questions, please contact the Support Team via email to support@cietrade.net.