Draw Account Overview

A Draw Account is where money loaned to a sales representative is managed.

A "draw account" refers to a system where a sales representative receives a regular advance payment against their future commission earnings, essentially acting as a loan that is deducted from their commissions once they are earned, providing them with a more consistent income stream, especially during periods when sales might be slow or when they are new to the role; it is often called a "draw against commission.

Draw Accounts are accessed within the Payouts/Commissions Report and the Accountant and Sales Manager Dashboards.

Details

Name - This is the descriptive name of the Draw Account (i.e. Company Draw Account, Payroll - September 2012, Payroll, Sales Rep - September 2012, etc.)

Date - This is the date of the Draw Account.

Assigned To - The User the Draw Account relates to.

Comment - This is an additional comment describing the payout group.

Summary

A simple summary showing the amount loaned to the rep, the payouts used to pay back the loaned amount, and the balance left to pay back will be in red.

Amount Loaned

This is the money the Company gives, or loans, to the Rep.

Payouts

As the rep earns payouts, all or a portion of the payout amount can be used to pay back the draw account. These are the Payout amounts of specific payouts used to pay back the draw account.

To add a Draw Account to a Payout, open a Payout and select the Draw Account within the Payout Amount section.