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MS Office Forum / Excel / Programming / March 2008

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Need formula to calculate comission & bonuses

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Steve - 19 Mar 2008 22:26 GMT
I need to create a formula that will figure out comissions & bonuses based on
not only amount sold, but also based on how much of each product is sold.  I
have the breakdown as follows:

Percentage to Goal    Total Revenue Bonus    Online Only Revenue Bonus   
125%                     $4,000.00    $2,000.00   
120%                     $3,600.00    $1,800.00   
115%                     $3,200.00    $1,600.00   
110%                     $2,800.00    $1,400.00   
105%                     $2,400.00    $1,200.00   
100%                     $2,000.00    $1,000.00   
95%                     $1,600.00    $800.00   
90%                     $1,200.00    $600.00   
85%                     $800.00                   $400.00   
80%                     $400.00                   $200.00   
75%                     $80.00                   $40.00   
Below 75%     $0.00                   $0.00   
           
           
Explanation of the bonus criteria:       
If a rep has a $20k goal and sells $20k (100%), they automatically earn the
$2k bonus shown for Total Revenue.
20% of their goal needs to come from online only ads to earn the online
bonus, too.  So if this rep sells
$4000 in online only sales from the $20k they sold they earn $1k also for a
total of $3k.  If a rep
sells only $15k of their $20k bonus, but $4k of that amount sold is from
online only then they earn
$80 from the Total Revenue bonus AND $1k from the online bonus and so on.

Now the question is, how would I enter that into the spreadsheet?  I have
tried using the formula and using IF & AND but I keep getting errors.  Please
help and THANK YOU!!!
cht13er - 20 Mar 2008 03:56 GMT
> I need to create a formula that will figure out comissions & bonuses based on
> not only amount sold, but also based on how much of each product is sold.  I
[quoted text clipped - 28 lines]
> tried using the formula and using IF & AND but I keep getting errors.  Please
> help and THANK YOU!!!

I set up this problem in a spreadsheet and found that a pair of
vlookups did the job perfectly.
I will try to send you the file - if you don't get it, could you email
me so that I can send it to you?

THanks

Chris
 
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