On Wednesday, Microsoft announced that Windows 8 devs could finally start submitting paid apps for consideration to be included in the RTM version of the Windows Store. But once the app is approved and released to the general public, app makers may wonder how they will actually receive the revenues generated from their Windows 8 app.
In a new post on the official Windows Store blog, Microsoft talks more about this process. App makers first have to submit accurate bank account information into the Windows Store app dashboard and then funds from the app's revenues are then put to the selected bank account via electronic funds transfer, SEPA transfer, or wire transfer.
Of course, the tax man also has to get his hands on some of an app developer's earnings. Microsoft also requires that anyone releasing paid Windows 8 apps fill out electronic tax forms with the US Internal Revenue Service (W-9 for US residents or a W-8BEN for international app makers).
After filling out all of those boring tax and bank forms, you can now start reaping the massive amounts of revenues that your sure fire Windows 8 app is supposed to bring. Microsoft has already announced that it will take 30 percent of the revenues from a Windows 8 app sold from the Windows Store until they reach $25,000 in lifetime sales. After that, Microsoft takes 20 percent of the app's revenues.
The blog states:
On the Finance page of your dashboard, you can immediately see what app proceeds are paid, reserved, pending, or available. Paid app proceeds are payments previously made to you. Reserved app proceeds are recent transactions which are not yet eligible for payment. Transactions are generally not eligible for payment until 30 days after the purchase occurred. Pending app proceeds reflect the total app proceeds now available for payment after the 30 days have passed.
Microsoft also stated that an app must generate at least $200 to qualify for a monthly payment and for those app makers that want detail reporting, Microsoft will provide that information as well:
You can export transaction-level details in the detailed transactions section on the financial summary page. Essential transaction data, such as transaction date, currency, store fee, app proceeds, and settlement status, are all included so that you can measure your performance using your own tools or tools from the developer community.
Source: Windows Store blog | Image via Microsoft