Commissions are a huge part of the compensation plan for the average salesperson. But if you’re in management, then you may be responsible for tracking and accurately paying out dozens of commissions in a single month. To do that effectively, you may need a little help. That’s why many in sales management use sales tracking templates for commissions. Keep reading to learn more about why using these templates could be a smart move – and find five of our favorite sales commission tracker templates to get you started.

Why track sales commission data?

It’s important to keep track of your sales commission data for a few reasons. We’ll take a look at each of those in this section.

More accurate payouts

Perhaps the best reason to track your commission payouts is to increase the accuracy of those payouts by doing so. Fewer errors are likely to occur when you have a repeatable process for tracking commissions and paying them out.

Greater transparency

Your salespeople work hard to generate sales leads and close deals for you. So you want them to know you’re keeping track of how much they’re earning in an ongoing and accurate manner.

Sales tracking templates achieve this because you can show them to a salesperson if there’s ever any doubt in their mind about their commission payout. You can even give your sales team viewing access to the commission tracking technology you use so they can keep an eye on their commissions over time.

Less work for you

It might sound like more work to track commissions with a spreadsheet, but over time, embracing this practice should decrease your workload. 

That’s because it typically takes longer to calculate someone’s commission payout when you have to go back and tabulate all of their sales manually at the end of the month.

Additionally, you could make more mistakes if you’re not tracking sales commissions as they’re earned. And having to go back and fix these mistakes will eat up even more of your time.

So it’s often better to spend a few minutes adding commissions to a spreadsheet every day instead of a few hours at the end of the month.

Improved insights

Lastly, you should understand your commission payouts and how they evolve when you track them. You can use the extra data you generate to learn more about your sales team’s performance over time. 

This gives you a better sense of whether changes need to be made to improve your bottom line.

How do sales tracking templates help?

Sales tracking templates make it easier to record and track your commission data over time by giving you a single place to do these things.

Whenever a new sale takes place, you simply go to the same tracking spreadsheet and enter the information. You won’t have to go back and forth between multiple platforms just to get the data you need to make your payouts.

Instead, you’ll be able to quickly take a look at your spreadsheet and make an accurate payout right away.

Templates are essentially spreadsheet files filled out with headings and formulas specifically for commission tracking. So when you use one, all you need to enter is the sales information. This saves you from manually calculating payout percentages yourself.

Sales commission tracker templates can help you track your team’s sales data.

Five sales commission tracker templates to get started

Let’s look at some templates to get you started. Here are five of our favorites.

Monday.com’s Comprehensive Sales Tracker Template

Suppose your company pays out commission on a sliding scale or with different variable and fixed plans for other employees. In that case, you need a comprehensive sales tracker to keep your data accurate. 

This comprehensive sales tracker template from Monday.com is perfect for that. It lets you use many different formulas for calculating commissions on an employee-by-employee basis. It also has helpful sections like payment dates and sent payment tracking to keep you organized.

Monday.com has also made it easy to integrate this sales commission tracker template with other technologies. You can set up payment automation, turn the sheet into a board on Monday.com, and customize how you interact with the template in other useful ways.

If you’re searching for a sales commission tracker template that can do it all, this may be your best bet.

ExcelTemplates.com

Some of these templates have a lot of bells and whistles. While useful in some situations, they can also get in the way of recording your sales commissions.

If you’re looking for a simple solution to track your sales commissions, this template from ExcelSpreadSheets.com could be a great option. It’s easy to use because it focuses entirely on a great interface for recording sales commissions and calculating how much you owe your employees. If that’s all that you’re looking for, then this could be the right selection for you.

Adnia Solutions

The best things in life are rarely free, which could be true of sales commission tracking templates. This one from Adnia Solutions is one of the very best we’ve seen. But it carries a $60 price tag while the others on this list are free to use.

That said, $60 for a tool that can make your life significantly easier in the longterm is a small price to pay – especially since this template features an interactive and dynamic dashboard that summarizes your key metrics in an easy-to-read way.

The other cool thing about this spreadsheet is that it automatically automates tasks to increase efficiency and reduce work on your end – and it has a highly visual reporting feature.

Fixed Revenue Commission Tracking

If you only pay out one type of commission, then choosing a tracking template with more features than you need could only complicate things. That’s why, if you only use fixed revenue commission tracking, this spreadsheet could be right for you. It’s a straightforward spreadsheet that’s built to give you an easy way to track your fixed revenue commission payouts. 

Variable Revenue Commission Tracking

Similar to the last example, this spreadsheet is for variable revenue-based commission tracking instead of fixed revenue. Its low profile makes it an excellent fit for anyone searching for a simple way to keep tabs on their variable revenue commission payouts.

Do sales commission tracker templates help generate sales leads?

It’s worth noting, sales commission tracker templates aren’t meant to help you generate sales leads. 

There are other general sales tracking templates used to generate leads that keep track of your performance in key marketing and sales areas. But commission tracking spreadsheets are only for tracking your commission payouts to sales representatives.

If you’re a startup looking for more ways to record information and gain insight into your processes, check out our post on the same topic. It highlights 13 templates that are perfect for startups.

While sales commission tracker templates can keep you and your team organized, you’re best left to other templates to improve your sales lead gen.

Visitor tracking software can help you get more out of your sales process

The right sales commission tracker template can help you unlock hidden opportunities for improvement in your sales process. But that’s not the only way to get more out of your resources.

Investing in visitor tracking software gives you greater insight into who’s visiting your website. It can tell you things like when a new lead interacts with you for the first time and sends you real-time alerts when a known prospect revisits your site.

Unlocking this information can be useful for your sales team: They can use the data to optimize their approach and close more deals. Sign up for a risk-free trial of LeadLander today.

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