Data Definition: SYS Proration Method
Form Label (Field Label): Proration Method
# of Characters: Not applicable
Where to use it: Lease BPs
Use this element for: Pro-rating rent over a period of time.
This data element is a pull-down that offers a choice of fixed proration periods:
- 365 Days/Year
- Yearly rent divided by # of days = daily rent
Example
A lease has a monthly rent of $3000. If the user chooses this option, for 15 days of a 30-day month, the rent will be $1479.45 ($36,000/365 x 15 = 1479.45).
360 Days/Year
Yearly rent divided by # of days = daily rent
Example
A lease has a monthly rent of $3000. If the user chooses this option, for 15 days of a 30-day month, the rent will be $1500 ($36,000/360 x 15 = 1500).
Days/Month
Monthly rent divided by # of days per month = daily rent.
Example
A lease has a monthly rent of $3000. If the user chooses this option, for 15 days of a 30-day month, the rent will be $1500 ($3000/360 x 15 = 1500).
Note: In all options, Unifier counts the days starting with and including the start date; so January 15 to January 31 is 17 days, not 16.