topic Re: Closing out and tips in Restaurant Operations

Closing out and tips

Nostalgia — Mon, 18 Sep 2023 02:02:27 GMT

Hi, we are ending our 6th month in business and Im concerned that we may not be closing out each day the proper way when it comes to CC tips. I saw a YouTube video from 3 years ago and they did it completely different but I also am taking into consideration that things have changed in 3 years. I’ve tried to find current videos, but I havent had any luck. I called customer service but they couldnt help me, and were going to have someone reach out to us, but we haven’t received a call. If anyone can tell me who to contact or a link to a video for us to verify that we are doing it correctly, that would be great! TIA!

Re: Closing out and tips

rcmck — Mon, 18 Sep 2023 17:13:10 GMT

Could you describe what you are currently doing and what you are concerned about?

Re: Closing out and tips

Nostalgia — Mon, 18 Sep 2023 18:21:19 GMT

I saw a YouTube video and they did a cash pay out for their credit card tips. We havent been doing that. So at the end of the day, I assume the CC tips are going into our income. Im concerned we are both being taxed on that amount.

Re: Closing out and tips

rcmck — Tue, 19 Sep 2023 01:59:09 GMT

Some businesses payout tips at the end of the shift with cash, some payout all tips through payroll. I assume you are doing through payroll then?

https://central.toasttab.com/s/article/Changing-shift-review-tip-out-settings

Re: Closing out and tips

tacoangels — Wed, 27 Nov 2024 20:46:12 GMT

where you able to find a solution?

Re: Closing out and tips

Rob — Thu, 05 Dec 2024 20:10:04 GMT

If you are curious about what a proper close-out is from Toast's perspective, I have attached some articles below! Let me know if you are looking for something else or if you have any other questions.

Close Out Day, Z Report, and Auto-Capture Overview
Close Out Day - (Video)
Guided Close Out Procedures - (Video)
End of Day Activities - Cash Management Training - Cash Drawers - (Video)