- #Calculating percentages in excel spreadsheet for mac how to#
- #Calculating percentages in excel spreadsheet for mac download#
With XLOOKUP we specify the lookup array and return array as separate ranges.There are two main differences and advantages with XLOOKUP: It works very similar to VLOOKUP when finding the closest match. We can also use the new XLOOKUP function for this calculation. If you are looking for a sliding scale calculation, see my article on calculating commission with a tiered rate structure using SUMPRODUCT. In the example below, if the payout will be $1,000 if the sales amount is $55,000 or $95,000. This means that the payout will be the same, regardless of what the sales amount is within the tier. With this setup the payout will be a flat rate. The payout can also be returned as a dollar value, instead of a percentage. Calculate Commissions to Return a Dollar Value For example, if the rep made sales of $175,000 then vlookup would return 15%. If the sales amount is greater than the last row in the lookup range, then the vlookup will return the last row. It is important to know this and setup your rate table for all possible lookup values. If the lookup value (sales amount) were a negative number, then the vlookup would return an error. This is because the sales rep could potentially have sales of $0 and the lookup value would be zero. In this example for a commissions rate table, the first row in the lookup range needs to be zero. If it finds a value that is greater than the lookup value, then it will return the previous row. Again the VLOOKUP will search for a “closest match” that is less than or equal to the lookup value. When putting this rate table in Excel, you only need to list the tier minimum for the lookup range.
When this argument is TRUE, VLOOKUP is looking between ranges of values in the tier minimum column to find an exact match or the value less than the lookup value. This is why the last argument in VLOOKUP is named range_lookup. This basically allows us to find a value between ranges of two numbers (tiers). With the last argument set to TRUE, vlookup will find the closest match to the lookup value that is less than or equal to the lookup amount.
For this to work we need to set the last argument in the vlookup to TRUE. We can use a VLOOKUP formula to calculate the payout rate for a given sales amount (lookup value). He/she will earn a certain payout rate depending on the level of sales achieved. The rep will make a certain amount of sales during the month. The job of the VLOOKUP is to find the rep's sales amount in the rate table, and return the corresponding payout rate.įor this example our commissions plan looks like the following: The payout rate could be a flat dollar amount, percentage of revenue, percentage of quota, etc. As the sales rep makes more sales, his/her payout rate will typically increase. With a simple commission plan you typically have a rate table that lists the payout rate at each level of sales.
#Calculating percentages in excel spreadsheet for mac download#
Download FileĬommissions Calculations- IF Vs VLOOKUP Vs XLOOKUP.xlsx (31.5 KB) Calculating Commissions with VLOOKUP Update: The post has been updated to include instructions for calculating commissions with the new XLOOKUP function.
#Calculating percentages in excel spreadsheet for mac how to#
Please checkout my article on How to Use VLOOKUP to Find the Closest Match for a detailed explanation on setting the last argument to TRUE. The secret is setting the last argument in the vlookup to TRUE, to find the closest match. This article will explain how to use the VLOOKUP function to make this process much easier. This is especially true if you have tried to use multiple IF statements to calculate commissions for each tier in a rate table. Calculating commissions in Excel can be a very tricky task.
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