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June 12, 2023
Question

How do I properly record tips? I do books for a bar and most tips are paid by credit card, then reimbursed to bar staff in cash from cash bar sales.

  • June 12, 2023
  • 1 reply
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When the credit card payments come in the tips are classified as a liability so they don't become part of the P&L statement, but cash to pay them to staff comes from cash sales. How do i properly record them?

1 reply

June 12, 2023

Hello maureennorman, 

 

Welcome to the Community. QuickBooks is an easy-to-navigate program that helps you to manage your accounting with ease. I'll be glad to share more info so you're on the right track with your work. 

 

In order to accurately record your transactions, I highly recommend consulting an accounting specialist for expert suggestions. This ensures your books remain accurate while you continue to manage your work with peace of mind. You can also get in touch with a professional using this link here. Other accounting professionals are able to see this post in the Community and this will allow them to chime in. In the meantime, feel free to check out the following article that shows you how to: How to Record Tips and Gratuities in QuickBooks.

 

Let me know if this info helps. Otherwise, feel free to ask questions in the comments below.