Zero Out Undistributed Tips

Hello, ryu2078. I'll guide you on removing the tips from the deposit and paying out the undistributed tips to zero out. 
 

To remove tips from the deposit and payout undistributed tips, you'll need to follow a few steps. When you create a Journal entry, under the first line, select Undistributed Tips, then put the amount you paid out to employees in the Debits. This will deduct the amount from your deposit and add it to your payout.  

Create a journal entry: 
 

1. Click the + New.
2. Select Journal Entry.
3. For the first line, choose Undistributed tips, then put the amount you paid out to employees in the Debits.
4. For the second line, select Undeposited Funds, then put the same amount in the Credits.
5. Tap Save and close.

For a more detailed process, refer to this article: Share tips with your team.

It's essential to note that removing tips from your deposit may impact your tax calculations. Therefore, it's always best to consult with your accountant or bookkeeper before making any changes to your Journal entry. 

Let me know if you have any further questions or need more detailed guidance on this process. I'm just one post away. Have a great day!

I've already processed all of the deposits for the year from the bank feed by splitting it between Sales, Tips, and Fees so if I credit Undeposited Funds won't it be stuck there next? I fixed the settings so Payroll Tips will automatically deduct from Square Tips moving forward (I renamed the Undistributed Tips account), but in the mean time I need to zero out the account. If I put it in Undeposited Funds it will be waiting there for me to process as a deposit which I don't want to do.