6

For accounting purposes, we need an invoice for accounts receivables, but when you get a payment from Apple for iAd revenue and app sales, how do you issue an invoice ?

Are there any specific regulations for this in Canada?

  • I don't know about Canada in particular but down here in the US it makes no sense--the tax authority isn't going to care if you report more income than you have paperwork for. – Loren Pechtel May 24 '13 at 20:31
7

You won't issue invoices to Apple for your app revenue or iAd revenue. Rather, Apple will pay you (or your corporation, depending on your relationship with them) as part of an ongoing arrangement. The payment amounts are determined by Apple, not by you, since sales and ad revenue originate with Apple.

However, Apple must provide to you a statement of earnings / sales report with sufficient detail. Read your contract with Apple — you should find it says something to that effect.

In practical terms, you should be able to find what you need in iTunes Connect. Look under Payments and Financial Reports, then under the Earnings tab. Download & print whatever reports contain the relevant information about payments received, to support the deposits shown on your bank statements (which you'll recognize as revenue.)

As far as the Canada Revenue Agency is concerned, they want you to keep records and supporting documents, which can include invoices, as well as other kinds of documents:

Supporting documents include, but are not limited to the following:

  • sales invoices;
  • purchase receipts, contracts;
  • guarantees;
  • bank deposit slips, cancelled cheques;
  • cash register slips, credit card receipts; purchase orders;
  • work orders;
  • delivery slips;
  • emails; and
  • general correspondence in support of the transaction.

Refer to Canada Revenue Agency's "Keeping Records" Guide (PDF).

Disclaimer: I'm not an accountant, so consider talking to one. You could also call the CRA and ask.

| improve this answer | |

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.