ASC 606 Standard
Also known as Revenue Recognition Standard, ASC 606 is basically an accounting standard that establishes that revenue should be recognized when a company meets its obligation by providing the promised goods or services to a customer.
Accelerator
An accelerated commission rate that kicks in when a rep hits their quota. For example, a rep makes $20,000 if they hit their quota of $200,000. The base commission rate is 10%. If the rep crosses the $200,000 mark, the rate accelerates to 15%. Companies will typically use accelerators to reward higher performance and motivate reps.
Account
A business that buys from the company. It also refers to a prospective business that may buy from the company.
Accrual
Money that has been earned or spent, but not yet paid. It is basically a tab of what is owed. Think of it this way, a payment from a customer is yet to come in. Or, a company is yet to send out a payment to an agent.
Annual Recurring Revenue
Predictable revenue a company expects to generate annually from existing customers.
Annual Wage Adjustment
Automatic increases or decreases in wages over a period of one year. These adjustments are usually made in accordance with a specific plan formula.
Attainment
A measure of how a sales rep has performed against their quota. Attainment is expressed as a percentage. For example, if a rep sells $10,000 and their quota is $20,000, their attainment would be 50%. If they sell $20,000, their attainment would be 100%.
Base Pay
A fixed amount paid to a rep exclusive of other forms of payments and benefits.
Best Practices
Proven techniques, methods and practices that work. They are usually set as the standard and most reps and sales leaders would choose to follow them to reach their targets.
ASC 606 Standard
Also known as Revenue Recognition Standard, ASC 606 is basically an accounting standard that establishes that revenue should be recognized when a company meets its obligation by providing the promised goods or services to a customer.
Accelerator
An accelerated commission rate that kicks in when a rep hits their quota. For example, a rep makes $20,000 if they hit their quota of $200,000. The base commission rate is 10%. If the rep crosses the $200,000 mark, the rate accelerates to 15%. Companies will typically use accelerators to reward higher performance and motivate reps.
Account
A business that buys from the company. It also refers to a prospective business that may buy from the company.
Accrual
Money that has been earned or spent, but not yet paid. It is basically a tab of what is owed. Think of it this way, a payment from a customer is yet to come in. Or, a company is yet to send out a payment to an agent.
Annual Recurring Revenue
Predictable revenue a company expects to generate annually from existing customers.
Annual Wage Adjustment
Automatic increases or decreases in wages over a period of one year. These adjustments are usually made in accordance with a specific plan formula.
ASC 606 Standard
Also known as Revenue Recognition Standard, ASC 606 is basically an accounting standard that establishes that revenue should be recognized when a company meets its obligation by providing the promised goods or services to a customer.
Accelerator
An accelerated commission rate that kicks in when a rep hits their quota. For example, a rep makes $20,000 if they hit their quota of $200,000. The base commission rate is 10%. If the rep crosses the $200,000 mark, the rate accelerates to 15%. Companies will typically use accelerators to reward higher performance and motivate reps.
Account
A business that buys from the company. It also refers to a prospective business that may buy from the company.
Accrual
Money that has been earned or spent, but not yet paid. It is basically a tab of what is owed. Think of it this way, a payment from a customer is yet to come in. Or, a company is yet to send out a payment to an agent.
Annual Recurring Revenue
Predictable revenue a company expects to generate annually from existing customers.
Annual Wage Adjustment
Automatic increases or decreases in wages over a period of one year. These adjustments are usually made in accordance with a specific plan formula.
Attainment
A measure of how a sales rep has performed against their quota. Attainment is expressed as a percentage. For example, if a rep sells $10,000 and their quota is $20,000, their attainment would be 50%. If they sell $20,000, their attainment would be 100%.
Base Pay
A fixed amount paid to a rep exclusive of other forms of payments and benefits.
Best Practices
Proven techniques, methods and practices that work. They are usually set as the standard and most reps and sales leaders would choose to follow them to reach their targets.
