What is an example of commission?

A fee paid for services, usually a percentage of the total cost. Example: City Gallery sold Amanda's painting for $500, so Amanda paid them a 10% commission (of $50).

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Commission Summary

Commission Summary

Name: Commission Summary
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.84 (325 reviews)

Category:

Employment - Summaries

State:

Multi-State

Control #:

US-04073BG

Format:

Instant download

Description

This form is a table showing the following information:

" Period Covered;
" Salesperson's name;
" Territory;
" Date Commissioned Earned;
" Order #;
" Name of Client;
" Commission; and
" Amount of Sale

Totals are shown at the bottom of the form.

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Form Rating

4.84

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Form popularity

FAQ

Just take sale price, multiply it by the commission percentage, divide it by 100. An example calculation: a blue widget is sold for $70 . The sales person works on a commission - he/she gets 14% out of every transaction, which amounts to $9.80 .

Under the cash basis of accounting, you should record a commission when it is paid, so there is a credit to the cash account and a debit to the commission expense account. You can classify the commission expense as part of the cost of goods sold, since it directly relates to the sale of goods or services.

The Commission Summary report summarizes the compensation for all salespeople for the period you specify and year-to-date.If you run this report in salesrep currency, then the amounts reflect the currency associated with the value in the Rep Name field (the salesperson's name).

A fee paid for services, usually a percentage of the total cost. Example: City Gallery sold Amanda's painting for $500, so Amanda paid them a 10% commission (of $50).

In terms of structure, a commission is money paid by an employer to an employee on a regular basis, in payment for services rendered on the job. Upon being established as a for-commission worker, fully or partially, that employee will receive his or her paycheck, either via regular paycheck or automatic deposit.

Commission Summary

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