Hospitality Accounting- Things You Need to Know
TRONC Do you ever wonder about the difference between Tips, Gratuities, and Service charges? To the public these are collectively known as ‘Tips’. However, it is important that you understand the difference between them, and how they are taxed or not taxed. A tronc is a separate organised pay arrangement sometimes used to distribute tips, gratuities and service charges given by customers. A...
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