1: sort out the money by denomination. Pennies in one cup, nickels in another, etc…all paper bills go into their own stacks based on denomination.

2: grab tills and exchange coins from tips with paper bills from the tills. If you have $10 quarters, you put that into a till and take out $10 in paper bills, either in 10 singles, 2 5s, or a single 10 bill. Do this until all coins are exchanged. Any remaining coins from your tips go back into that day’s tip jar.

3: count all of your bills. This is a good time to use your store fund to exchange singles for larger denominations if your SM approves (if you have $328 in singles for tips, you could take out $120 in $20 bills from the store fund so you could have six $20 bills for your tips. Just make sure you’re exchanging even amounts).

4: divide total tips by the total store labor for that week to get your tip rate. If you have $100 in tips and 100 labor hours, your rate is $1/hour.

5: calculate each partner’s tips for that week by multiplying their hours by the tip rate. If a partner worked 10 hours and your rate is $10/hour, then they get $10. When you’re finished, double check to make sure you didn’t over-round and end up needing more money than you actually have. It’s better to have $2-3 left over than need $2-3. Write each partner’s tip amount next to their hours on the labor report.

6: distribute tips accordingly. Write the date and tip amount for each person on their envelope or however your store gives out tips. Any remaining money goes back into the tip jar.

This is how I do it. Start by counting all the cash and getting a printout of the hourly wage report, which shows the amount of hours everyone worked from Tuesday through Monday. (A SSV or above can access it.)

1. Locate the total number of hours worked, all the way at the bottom of the report
2. Divide the total tips by the total hours. This is the tip rate in dollars per hour. Round **down** to the nearest hundredth (cent)
3. Start back at the top of the report and work your way down. For each partner, multiply the tip rate by their hours worked. Round **up or down** to the nearest whole number (dollar). If it's .5, round up. This is the amount of each partner's tips
4. Add up everyone's calculated tips. The amount should be very close to, but not greater than, the total tips. This is just a way of checking your work for errors

Zedazeni said it perfectly.
For my benefit, I use a spreadsheet to input the total tips and hours to get the tip amounts. It saves me from having to do 30 different calculations and helps me see if I made a mistake imputing at all