Pro Rate Calculator

How to Use the Pro Rate Calculator

The Pro Rate Calculator is designed to help you determine the prorated amount of a financial commitment over a specified period of time. Follow this step-by-step guide to effectively use the calculator.

Step 1: Enter the Full Amount

Begin by entering the full amount of the financial commitment into the designated input field labeled Full Amount ($). Ensure that you enter a positive number, as negative values are not accepted. The field is formatted to accept a number with up to two decimal places.

Step 2: Select the Start Date

Next, select the Start Date for the prorated period. Click on the date field and choose a date from the calendar. The start date is required to calculate the prorated amount.

Step 3: Select the End Date

Similarly, choose the End Date for the prorated period. This value is crucial as it helps determine the duration over which the prorated amount will be calculated. Make sure the end date is later than the start date.

Step 4: Choose the Billing Period

Select an option from the Billing Period dropdown menu. The choices are:

• Yearly
• Monthly
• Quarterly

This selection will determine the basis over which the prorated calculations are performed.

Step 5: View the Results

After entering all the necessary input fields, the calculator will display the results. The results include:

• Total Days: The total number of days between the start and end dates.
• Period Days: The number of days in the selected billing period (e.g., 365.25 for yearly).
• Pro Rate Percentage: The percentage of the billing period that the selected period represents.
• Pro Rated Amount: The calculated prorated amount based on the input full amount and the prorated percentage.
• Daily Rate: The daily rate calculated from the full amount and billing period.

Review the calculated fields to understand the distribution of the amount over the prorated period based on your specified inputs.