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Tip Pooling Calculator
Welcome to our Tip Pooling Calculator —a powerful tool designed to simplify and enhance your restaurant’s event management process. In this guide, we’ll explore the benefits of using a Tip Pooling Calculator for your restaurant and provide step-by-step instructions on how to effectively utilize this invaluable resource.
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How Does It Work?
Tip pooling involves the redistribution of a portion or the entirety of the tips collected during a day among eligible employees, either through equal sharing or a predetermined percentage allocation. This practice has the potential to boost morale and is a valuable option for many restaurants.
Key Features & Advantages:
The master tip distribution template can be duplicated to create tailored forms for various staffing configurations.
Easily customizable to align with your unique tip pooling program.
Supports tip distribution calculations based on either hours worked or fixed percentages.
Facilitates the inclusion of kitchen staff in tip sharing, especially in states that don’t utilize tip credits.
Simplifies the entire tip distribution calculation process.
Gross Profit: Gross profit is the revenue generated from sales minus the COGS. It reflects the profit earned before deducting other operating expenses. Monitoring gross profit helps gauge the financial health and profitability of a restaurant.
Optimize your time and effort with automated tip calculations. Eliminate the need for cross-referencing reports from various systems or weekly manual tip data extraction. Simply integrate your custom tip rules with Milagro POS data for automatic tip distribution.