Splitting up revenue among development team members on Apple's app store

Posted by itaiferber on Programmers See other posts from Programmers or by itaiferber
Published on 2011-11-22T01:47:03Z Indexed on 2011/11/22 2:09 UTC
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software-development

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team

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apple

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appstore

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financial

A friend and I have started developing an app to put on Apple's app store. Development is going fine, but thinking ahead, we're trying to come up with an easy way to share any revenue coming from our efforts. The app store allows you to deposit your revenue into a single bank account, but there's no easy way to split revenue among several people.

How do (small) dev teams split up revenue on their products, on, and off the app store?

As far as I can tell, banks don't offer an easy way to automatically split the balance on an account 50-50 (or any other percentage, for that matter), especially on a regular basis. So how do teams deal with this? We're not incorporated, and we don't have an official business set up.

We're considering depositing all the money into one of our accounts and manually transferring half the money to the other person, but this isn't sustainable over long periods of time.

Is there a low-cost, sustainable, automatic process for handling these finances?

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