Specifically, we are interested in automatically generating commissions for sales reps associated with a given invoice and setting up the system to notify that a commission is payable based on entry of payment received in the system. Basically, when I enter an invoice into the system can I link each line item to a specific sales rep at a specific commission rate?
This one is actually new to me. After reading your question, I didn't think it was possible. I did a little reasearch and found that it can be done. It looks like you can do it by invoice...not necessarily by line item.
The first thing that you need to de is customize your invoice so that the "REP" field is displayed.
Now you will need to enter all fo your sales reps. To do this go to Lists - Customer and Vendor Profile Lists - Sales Rep List. In the bottom left of the window you will see "Sales Rep." Click and select add new. Choose the applicable employee from the drop down list and ensure that the other information is correct. Click "Next" and repeat as many times as necessary.
You will now need to go into the employees list (Employees - Employees List) Make sure that they are marked regular in the type field. On the Payroll Info Tab, add a commission payroll item and enter the commission rate (as a %) in the Hourly/Annual field.
Now when you enter invoices make sure you apply them to the correct sales rep.
After this you will be able to generate a sales rep summary report that will show the current commissions owed.
To pay the commissions, you will use the above mentioned report to enter each salesmans total sales in the quantity field of the preview paycheck screen.
If you continue to have trouble with this, open QuickBooks help (F1) and search for commissions.