There's not a way to clear points out entirely because the points are attached to specific items (i.e. events, behaviors, etc), but you can set up Recognition Periods for each quarter/semester.
1. Create the desired Recognition Periods.
If you are deducting points for rewards, be sure to NOT include Activity Points in the period.
If your school assigns point values for Activities, the points will carry over through each Period by default because there is not a date attached to them. For example, if a student earns 50 points for being a member of a club, those 50 points will appear in each Recognition Period. However, when creating the period you can choose to not include Activity Points.
2. After you have created your Recognition Periods, change the Default Recognition Period on the school settings page.
This will display the current points for the selected period throughout the website and app(s). For example, the student roster will reflect the point totals for the selected period, as well as the reward redemptions page and student app/website.
3. Adjust your rewards (if needed).
If you want to "reset" student point totals for the new semester, you'll need to change the reward criteria. Click on the edit pencil next to each item and change the Recognition Period to the new semester. In the example below, students can only spend points they earned during the Spring Semester on this particular item.
You can run the Student Point Redemption Summary to view students' total, redeemed, and available points by period.