Pro Rata Calculator

How to Use the Pro Rata Calculator

This guide will walk you through the steps to effectively use the Pro Rata Calculator. By following these instructions, you will be able to calculate the pro-rata amount for a specified period.

Step 1: Enter the Full Amount

Begin by entering the total amount you wish to prorate in the “Full Amount” field. This value should be a number greater than 0.01.

Step 2: Select the Start Date

Click on the “Start Date” field to input the beginning date of the period you want to calculate. This date is mandatory for the calculation.

Step 3: Select the End Date

Next, select the “End Date” field to set the final date of your calculation period. Like the start date, this is also a required field.

Step 4: Choose the Period Type

From the “Period Type” drop-down menu, choose the appropriate unit of time for your calculation. Available options include:

• Yearly: Uses a period length of 365.25 days.
• Monthly: Assumes an average month length of 30.44 days.
• Weekly: Considers each week to be 7 days.
• Daily: Calculates on a daily basis, using 1 day as the unit period.

This selection impacts how the period length is calculated.

Step 5: View the Results

Once all the necessary fields are filled, the calculator will generate the results automatically. You will see the following calculations:

• Total Days: The number of days between the start date and the end date.
• Period Length: The duration of the chosen period type in days.
• Pro Rata Amount: The prorated amount of your full financial amount over the selected period.
• Daily Rate: The rate of the full amount divided by the period length.
• Percentage of Period: The percentage of the selected period covered by the entered dates.

Review your results to ensure they meet your expectations, and adjust your inputs as necessary to refine the calculation.