We are living in a very busy world where people are so hooked on their jobs and personal life that doing any additional task can become a big challenge for them. Due to such situations, a new designation arrived known as an agent. An agent is a person who is allowed to act in a legal capacity on behalf of the principle. The agent has the implied authority to form contractual agreements on the acceptance of the principle.
The principle-agent relationship can be a contractual relationship where the principle can set the terms, conditions & any liability applicable to the agent. Such arrangements help the principle to not only save time but they also get an expert to look after their matters. The agency relationship is based on faith and trust between the agent & the principle.
As the agency relationship is a mutual relationship, the benefits gained from this relationship also needs to be mutual. The principle gets the benefit of the work done without any hassle and the agents get the benefit in the way that the commission he earns. The benefits of an agent can never be denied. They know the trends of the local market, due to which they can offer a good knowledge of the market intelligence. They are also capable of the ways to get an entry in the market.
The agents are well trained to deal with the customers and to communicate with them. The agents are normally paid depending on the projects and the deals made. The agent conducts any market research that is needed for the negotiation and finalizing any deal. If a deal is successful, the agent gets a certain percentage of the profit made. Commission is a good incentive to make a successful deal.
The agents are well aware of the fact that they will get paid in terms of commission if they only earn revenue. This is the biggest motivation for any agent to work harder.
Commission tracker can be used by the company, principal or the agent to keep a track of the commission earned. The tracker is very easy to use and understand. Commission tracker is a good way to track the forecast and the actual results incurred. A comparison of the forecast and actual results is monitored round the year. The targeted sales/results are mentioned on the tracker and it helps to calculate the commission based on the results every month.
Commission is an important part of any business. The sales person often gets compensation or reward after selling specific products of a company or business organization. It is a common thing in almost every business and it is important to have a track of commission. Usually, the companies announce a target number of sales, and the winner will be rewarded with bonuses or any prize. In order to record commission, it is important to have some tool, and the commission tracking template will serve as a perfect tool. It is free to use, just download it and modify the template according to your needs. It will also help you to know about the profitability of your company.
Benefits of Commission Tracking Template
The commission tracking report is important for the insurance agencies and sales group. You can design a commission tracking sheet to write objectives of different employees and their progress. It is an easy way to analyze the performance of your organization. It is an affordable way to measure your business. For your help, the commission tracking template is designed with all formulas. It is a handy option, and you can modify it according to your needs. It is really easy to use. You just have to input your details and the calculations will be automatically done. There is no need to use any expensive tool because the sample template is free and will help you equally. You will get a clear picture of the profit of your business.
Preview and Details of Template
File: Excel (.xls) 2007+ and iPad
Size 74 Kb | Download
File: OpenOffice (.ods) Spreadsheet [Calc]
Size 27 Kb | Download
License: (Free Use)
(distribution) by Kate Elizabeth(CEO)