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tip pool worksheet

  1. #1
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    tip pool worksheet

    Hello,

    I am in need of your help. I am a manager of a nightclub and at the end of the night I am responsible for splitting up tips based on each individuals hours worked. I know it seems easy, you would just divide the total amount of tips by the total hours to get an hourly rate and then pay each employee according to their hours. However, I have a bit of a different situation. In my line of work, some employees receive what are called "funny money" tips which come from a customers credit card transaction. These bills look like monopoly money and each bill they receive is worth 9 dollars each. When I split up the tips at the end of the night, these "funny money bills" must be distributed as evenly as possible in the tip pool starting with the employees who work the LEAST amount of hours. Here is my example:

    I have the following employees who worked these hours:
    Pat 2
    Robert 9
    Bill 12
    MJ 2.5
    Rocco 9
    Lisa 13
    Kirk 13
    Bob 9
    Abel 2
    Greg 9
    Bart 1

    The amount of "funny money" I have is 26 bills for a total of $234. (26*9)
    The total amount of real cash tips is $146.

    The total amount in the tip pool is $380. (234 + 146)

    The total amount of hours is 81.5.

    The hourly would be $4.66 per hour.

    Knowing that I MUST evenly distribute the funny money bills first to the employees with the LEAST hours, How can I automate this into an excel worksheet so it does not take me an hour to do every single night. I want to be able to plug in the hours, the funny money bills, and the total cash and have it calculated automatically. The numbers need to be rounded properly so all the money gets paid out.

    Note: In this case, the employee who worked one hour would not get a funny money bill worth 9 bucks because his total amount due to him is only $4.66 or rounded to the nearest dollar would be $5.

    Thank you in advance for anyone who can help me develop this worksheet. It would enable me to get home to my wife and kids an hour earlier every day!

  2. #2
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    Re: tip pool worksheet

    Please move this post to Excel formulas and functions as I do not know anything about programming or macros. I made error and posted it in the wrong spot. Thank you.

  3. #3
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    Re: tip pool worksheet

    This solution can accomplish two of the three goals. Namely distributing all of the 'Funny Bills' and tip money. The formula used to distribute the 'Funny Bills' is:
    Please Login or Register  to view this content.
    Note the the employees are sorted according to the hours worked in ascending order.
    *I put an even distribution of 'Funny Bills' in column I, however I am not sure how this would be accomplished with a formula(s).
    Let me know if you have any questions.
    Attached Files Attached Files
    Consider taking the time to add to the reputation of everybody that has taken the time to respond to your query.

  4. #4
    Forum Expert Pepe Le Mokko's Avatar
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    Re: tip pool worksheet

    Your post does not comply with Rule 8 of our Forum RULES. Do not crosspost your question on multiple forums without including links here to the other threads on other forums.

    Cross-posting is when you post the same question in other forums on the web. The last thing you want to do is waste people's time working on an issue you have already resolved elsewhere. We prefer that you not cross-post at all, but if you do (and it's unlikely to go unnoticed), you MUST provide a link (copy the url from the address bar in your browser) to the cross-post.

    Expect cross-posted questions without a link to be closed and a message will be posted by the moderator explaining why. We are here to help so help us to help you!

    Read this to understand why we ask you to do this, and then please edit your first post to include links to any and all cross-posts in any other forums (not just this site).

    http://www.excelkey.com/forum/viewtopic.php?f=2&t=8354
    http://chandoo.org/forum/threads/tip-po ... eet.29230/

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