What is the formula for calculating commission in Excel?

In Excel, to calculate a commission and split the Commission between Agent and Broker according to a pre-established schedule, you can use the VLOOKUP Function. This page will show

What is the formula for calculating commission in Excel?

In Excel, to calculate a commission and split the Commission between Agent and Broker according to a pre-established schedule, you can use the VLOOKUP Function. This page will show how to calculate the commission split values in Excel. Lets get started!!

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Find commission split values

Find commission split values

Jump To:

  • General Formula
  • Syntax Explanations
  • Example
  • Conclusion

General Formula:

  • Use the below formula to calculate the commission split.

=commission*VLOOKUP(amount,split_table,column,TRUE)

Syntax Explanations:

  • VLOOKUP  This function helps to look up data in a range or table by row. Read more on the VLOOKUP Function.
  • Commission  It represents the total commission amount in the worksheet.
  • Split_Table It contains the fixed intervals of a certain amount.
  • Column  It returns the column number.
  • Comma symbol (,)  It is a separator that helps to separate a list of values.
  • Parenthesis ()  The main purpose of this symbol is to group the elements.
  • Multiplication (*) In this symbol will multiply any two values or numbers.

Example:

  • Now we are going to see how to calculate the commission split values.
  • Refer to the below screenshot.
  • Here, we will create the fixed intervals of the amount with the commission percentage in Column B, Column C, and Column D.
  • We will enter the input ranges in Column F and Column G.
  • Then, enter the given formula in the formula bar section.
  • Finally, we get the result in Cell I4.
Example

Example

Conclusion:

From this tutorial, you can get to know the simple formula used for calculating the commission split values in Excel. Hope you like this article. Mention your queries in the comment box below. Thank you. To learn more, check out Geek Excel and Excel Formulas!!

Read Also:

  • Excel Formulas to Find the Smaller of Two Values!!
  • Excel Formulas to Find the Minimum Value From a Range!!

Video Tutorial:https://geekexcel.com/wp-content/uploads/2020/12/Xs1ybdndvf-1.webm

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