I pay every second Thursday. The cutoff is the previous Friday. I chose this method because there is a legislated maximum number of days from cutoff to payday. By paying on Thursdays the bank is not as busy for the employees to deal with their needs.
In house tips are pooled and about 4 times a year I distribute the tips based on total hours worked by all employees. Each employee get the percentage of tip money compared to the percentage of the total hours they have worked.
Hours worked by an employee (H) divided by total hours worked by all employees(A) equals percent of total hours worked§. Then total tips pooled(T) times percent of total hours equals tip out to employee.
T*P=employee’s share of tips
My week goes Wednesday - Tuesday. Employees get paid weekly that following Monday for that week. I pay on Monday’s for a couple of reasons. It gives me weekend funds for payroll and I found that when I paid employees on Fridays they were able to have to much fun over the weekend and coming in to work wasn’t a priority. It’s sad to say but when I pay them on Monday most of them don’t have much left by the weekend.
In house tips get split monthly by percentage of hours that employees worked. Just make sure you keep records of what you give each employee because if the State comes a knocking they are going to want to know what happens with the tips.