What is Apple’s Fiscal Year?
Apple’s fiscal year is a structured schedule when Apple distributes app revenue to developers after deducting App Store fees and sales taxes. This schedule changes slightly every year, so it’s crucial for developers and product managers to stay updated. Apple’s fiscal year is distinct from the typical fiscal year used by most companies, making it essential to understand its unique structure.
How Apple Fiscal Calendar Works
Apple’s fiscal year starts on the last Sunday of September and consists of four quarters, each lasting three months. The key points are:
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Quarter Structure: Each quarter has three months.
- The first month lasts for 35 days.
- The next two months last for 28 days each.
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Total Days: There are 364 days in the Apple Fiscal Year. Every five years, an extra week is added to account for the discrepancy.
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Week Structure: Weeks start on Sunday and end on Saturday.
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Payment Schedule: Payments are made every 4 or 5 weeks, always on the same day of the week (Thursday in 2024). Payments are typically for revenue collected two months prior.
👉Read more: Accrued Revenue
Apple Fiscal Calendar 2024
| Fiscal Month | Payment Date | Revenue Period |
|---|---|---|
| October 2023 | October 5, 2023 | August 6 – September 2, 2023 |
| November 2023 | November 2, 2023 | September 3 – September 30, 2023 |
| December 2023 | December 7, 2023 | October 1 – November 4, 2023 |
| January 2024 | January 4, 2024 | November 5 – December 2, 2023 |
| February 2024 | February 1, 2024 | December 3 – December 30, 2023 |
| March 2024 | March 7, 2024 | December 31, 2023 – February 3, 2024 |
| April 2024 | April 4, 2024 | February 4 – March 2, 2024 |
| May 2024 | May 2, 2024 | March 3 – March 30, 2024 |
| June 2024 | June 6, 2024 | March 31 – May 4, 2024 |
| July 2024 | July 4, 2024 | May 5 – June 1, 2024 |
| August 2024 | August 1, 2024 | June 2 – June 29, 2024 |
| September 2024 | September 5, 2024 | June 30 – August 3, 2024 |
Apple Fiscal Calendar 2024 by Quarter
- Q1: October 1, 2023 - December 30, 2023
- Q2: December 31, 2023 - March 30, 2024
- Q3: March 31, 2024 - June 29, 2024
- Q4: June 30, 2024 - September 28, 2024
Apple Developer Payout Calendar Resource
Here is an online Apple payout calendar resource you can bookmark that is updated for the current fiscal year.
Why Understanding the Fiscal Calendar is Important
Managing the Revenue Gap
You can’t access the revenue in your Developer Account until the payment date. This 33-day gap can disrupt your app’s financial flow, especially if you rely on paid traffic for app promotion. Managing your finances to account for this gap is crucial to avoid running out of funds.
Billing Challenges and Unpaid Ads
Ad networks require timely payments, and any pauses in your promotional activities due to insufficient funds can negatively impact your user acquisition strategy. Restarting ads after a pause can reduce their effectiveness. Proper financial planning helps maintain continuous ad campaigns.
Aligning Financial Metrics with Apple’s Fiscal Periods
Align your performance metrics with your actual earnings. For instance, revenue earned in September will actually be from August 6 to September 2, but your spending might be based on the calendar month. Synchronize your financial records with Apple’s fiscal periods for accurate analysis.
Other important considerations
Apple pays developers proceeds for app or in-app purchase sales within 45 days of the last day of the fiscal month in which the transaction was completed.
Payments are made only if the following is true:
- App developer has a Paid Applications Agreement in effect
- App developer has providing banking information in App Store Connect
- Proceeds exceed the minimum monthly threshold for each country or region
- App developer satisfies any monthly invoicing requirements
Apple consolidates proceeds so you can expect a single payment to your bank each fiscal period.
👉Read more: Play Store Developer Payout Schedule
FAQs
When does Apple’s fiscal calendar 2024 start and end?
- The 2024 fiscal year starts on October 1, 2023, and ends on September 28, 2024.
How are the quarters divided in Apple’s fiscal year in 2024?
- Quarters are three months long, with 13 weeks divided into three periods of 5, 4, and 4 weeks.
When will Apple release its quarterly financial results?
- Apple’s fiscal calendar for app developers is separate from its corporate financial results, which are published according to a general fiscal calendar.
How does Apple’s fiscal calendar differ from the standard calendar year?
- Apple’s fiscal year has 364 days, with an extra week added every five years, and payment periods last for 4 or 5 weeks instead of calendar months.
Conclusion
Navigating Apple’s unique fiscal year can be intricate, but understanding its structure is vital for managing your app’s revenue. By staying informed about key dates and payment schedules, you can optimize your financial planning and ensure a smooth revenue cycle.
Enhance your financial proficiency and in-app monetization by leveraging the Apple Fiscal Calendar 2024. Stay ahead in managing your app’s revenue effectively.
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