Currently, Jane will calculate staff compensation based on the revenue received for a particular product sale. If you would like to compensate your staff member based on the profit made on a particular product sale, you will be able to arrive at this amount with a little bit of spreadsheet magic ✨
Compensating a Product Sale by Profit
If you haven’t already, you’ll want to make sure that you’ve set up the cost of a product to the clinic from your Settings > Products area. Here is our guide on Creating a Product) in case you’d like a quick refresher on this process.
When working with the Compensation Report, the product cost and income category are additional fields that will show up on the exported version of the report.
You will be able to reference this information to help calculate the profit made for a sale as well as the after-commission amount for that particular staff member.
The export will display the product cost of a single unit in the “Product Cost” column of the export. If the line item you are working with is a single product sale, you’ll be able to calculate profit by subtracting the Product Cost from the Adjusted Total value.
Don’t forget to multiply the product cost by the number of products sold if the quantity of the transaction is greater than one.
Once the profit has been calculated, you will be able to multiple this number by the commission rate set for this practitioner and income category. In the example below, our practitioner will receive 75% of the commission based on the profit brought in under the product income category.
Once you have your formula set, you can click and drag the cell down to cover all of the other line items for that same staff member— your spreadsheet program will apply the same calculation for all of the selected lines. You can then sum all of these values together to calculate a final total.
And that’s it! If you have any questions about working with compensation in Jane, don’t hesitate to reach out to us at [email protected].