Help or suggestions for Mfg Rep


K

koulaid

I need some help. I have taken a product line that I sell but am a
manufacturer's representative for. The factory quotes, invoices, collects
and ships the produce. I am paid a commission for each order with variable
percentage of the sales price based upon the item. I receive order
acknowledgements and invoices directly form the factory. This is a recently
acquired product line and I have not received a check yet but have sold
several items and will get one soon.

I have been entering the order acknowledgements as sales orders in SBA and
each item has the commission box checked. Since I am not going to invoice
the product, what would be a suggested way of entering this information to
receive the commission in SBA.

Any suggestions would be appreciated.

Dean Koulogianes
Instrument Solutions Inc.
 
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A

Allan Martin

I need some help. I have taken a product line that I sell but am a
manufacturer's representative for. The factory quotes, invoices, collects
and ships the produce. I am paid a commission for each order with variable
percentage of the sales price based upon the item. I receive order
acknowledgements and invoices directly form the factory. This is a
recently
acquired product line and I have not received a check yet but have sold
several items and will get one soon.

I have been entering the order acknowledgements as sales orders in SBA and
each item has the commission box checked. Since I am not going to invoice
the product, what would be a suggested way of entering this information to
receive the commission in SBA.
Can we assume the company you set up for this type of transaction is a dummy
company and not your own? In your own company's books receive cash and
credit commission income.
 
K

koulaid

This is my company but I have just started as a mfg rep in addition to my
buy and resell. I do understand what you offer. I will get a check from the
manufacturer between 15 and 30 days after the end customer pays the
manufacturer.

I will be making a visit to my accountant soon. I wanted to see if anyone
had done this before. I was hoping I could track sales in SBA.

Thanks

dk
 
B

Brian F. Tankersley, CPA.CITP

This is my company but I have just started as a mfg rep in addition to my
buy and resell. I do understand what you offer. I will get a check from the
manufacturer between 15 and 30 days after the end customer pays the
manufacturer.

I will be making a visit to my accountant soon. I wanted to see if anyone
had done this before. I was hoping I could track sales in SBA.

Thanks

dk

You could enter the totals from the invoice into SBA as units for a
non-inventory item on a sales order, and then have a "price per unit"
equal to your commission rate on each sale. This would give you an A/R
transaction equal to your actual commission each time you record a
transaction, and if you analyzed the units for these items (e.g. a
$100,000 sale would be 100,000 units of an item called something like
"30% commission"), you could track the dollar volume of your sales.

Hope this helps. If you have further questions, please reply to the group.

Brian Tankersley, CPA.CITP
 
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