1. You are very likely missing Apple App Store Revenue 

As of January 1st, 2024, there has been a change in the Apple API or Apple processes where they have started backdating their Sales Summary Reports (generally upward). You’ll want to rerun historical reports to make sure they haven’t changed. ‍

2. Net vs Gross accounting has to be inferred - push those fees to your developers/artists: 

To do net vs gross accounting (principal vs agent) under ASC 606, you have to calculate the developer proceeds and push it to a liability for payment. This amount has to be inferred from the report: proceedAmount = Developer Proceeds * UnitsA nifty trick for companies with enough market power to improve net revenue is to push the fees to developers or at least split it with them. This effectively increases your net revenue by passing less revenue to the developers.

3. Auditors will push back on lack of accurate ASC 606 accounting due to the data limitations presented by the Summary Sales and Financial Reports. 

Apple’s Summary Sales Report lacks a unique identifier to associate refunds. As such, while the Summary Sales report and Financial Report are at least available to the accounting team through the Apple App Store dashboard to do the accounting manually, the detailed data to get to further granularity to get the accounting right and satisfy auditors sits in an API-only accessible via software - See the ERD.HubiFi helps high-volume B2C businesses selling through the Apple App Store account for this missing revenue, accurately account for net vs gross accounting, and obtain the necessary granularity to create accurate journal entries and analyze your business lines and contribution margin. See a demo with your data in 1-2 business days by booking HERE