What is a Commissioned Staff Payroll Budget for Retail Companies?
The Commissioned Staff Payroll Budget for Retail Companies is a strategic instrument utilized by retail chains and store managers to intricately strategize and oversee compensation budgets for employees who earn commissions. This budget framework acts as an all-encompassing guide that covers various facets of budgeting for retail staff. It encompasses vital details such as hiring and termination dates, allocation of store revenue to full-time employees (FTEs), provisions for salary increases, and more. Moreover, the template enables managers to forecast potential new hires, completing its array of functionalities. A representative example of this template is furnished below.
Purpose of Commissioned Staff Budget Forms
The incorporation of Commissioned Staff Budget Templates by corporations and entities fulfills the purpose of expediting streamlined budget administration at both regional and individual store levels. By integrating these templates into the Financial Planning & Analysis (FP&A) framework, companies can significantly augment the accuracy of their budget projections and future staffing strategies. Additionally, employing these templates helps alleviate the risk of operational inefficacies in retail establishments due to inadequate planning, thus contributing to an overall enhancement in performance.
Benefits to Users
Models for Commissioned Staff Payroll Budgets furnish indispensable advantages to business users by facilitating well-informed decision-making and operational effectiveness. These models present a comprehensive outlook on compensation for commission-based employees, enabling managers to strategically allot resources based on historical data and performance indicators. The automated functions simplify the tasks of budget planning, curbing errors and liberating time for strategic endeavors. Essentially, these models bolster decision-making assurance, cultivate agility, and optimize the use of resources, all of which contribute to the overarching triumph of the business.
Commissioned Staff Budget Form Example
Here is an example of detailed budget input form for Commissioned Staff Members in a retail store.
You can find hundreds of additional examples here.
Who Uses This Type of Template?
The typical users of this type of template are: Store managers, regional managers, HR managers, CFOs, and budget managers.
Other Templates Often Used in Conjunction with Commissioned Staff Budget Forms
Progressive Financial Planning & Analysis (FP&A) Departments sometimes use several different Commissioned Staff Budget Forms, along with sales and other operating expense budgets, capex, cash flow plans and other management and control tools.
Where Does the Data for Analysis Originate From?
The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Acumatica, Sage Intacct, Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Netsuite and others.
In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.
What Tools are Typically used for Reporting, Planning and Dashboards?
Examples of business software used with the data and ERPs mentioned above are:
- Native ERP report writers and query tools
- Spreadsheets (for example Microsoft Excel)
- Corporate Performance Management (CPM) tools (for example Solver)
- Dashboards (for example Microsoft Power BI and Tableau)
Corporate Performance Management (CPM) Cloud Solutions and More Examples
- View 100’s of reporting, consolidations, planning, budgeting, forecasting and dashboard examples here
- Retail White Paper and other industry-specific information here
- See how reports are designed in a modern report writer using a cloud-connected Excel add-in writer
- Discover how the Solver CPM solution delivers financial and operational reporting
- Discover how the Solver CPM solution delivers planning, budgeting and forecasting
- Watch demo videos of reporting, planning and dashboards
Only Solver delivers a one-day rapid deployment, including free and instant access to $100K of value available on Day 1 in the Solver Marketplace. Solver is committed to helping you with all your advanced planning and reporting needs, so you can Accelerate Better Decisions – starting now. Take a free tour of Solver for any of these ERPs: