Proration

1. Proration and Catch-Up

Specify whether the system generates proration and catch-up billings. Values are:

Blank: Bill the current period only; do not prorate or process catch-up billings. The system bills for the entire current period regardless of the number of days the unit or building was occupied.

1: Prorate and bill the current period; do not process catch-up billings. The system prorates the amount of the billing based on the starting and ending dates, and the value in the Method of Proration processing option.

2: Prorate and process catch-up billing. The system prorates the amount of the billing based on the starting and ending dates, and the value in the Method of Proration processing option. The system also generates a billing for the consecutive periods prior to the current billing period that were not billed. For example, if the current period is 10, and periods 7 and 9 were not billed, the system would process the catch-up billing only for period 9 because it is consecutive to period 10.

3: Perform catch-up billing, but do not prorate the current period. The system generates a billing for the consecutive periods prior to the current billing period that were not billed. For example, if the current period is 10, and periods 7 and 9 were not billed, the system would process the catch-up billing only for period 9 because it is consecutive to period 10. The system also bills for the entire current period regardless of the number of days the unit or building was occupied.

2. Method of Proration

Specify the method to calculate the prorated billing amount if you entered 1 or 2 in the Proration and Catch-Up processing option. Values are:

Blank: Prorate the billing amount based on the number of days in the billing period.

1: Prorate the billing amount based on a 30-day month. This option is valid only for a monthly billing frequency.

2: Prorate the billing amount based on the Quarter Day method. The system uses starting and ending dates from the recurring billing record to determine the number of days to bill for the period, and then multiplies it by the number of billing periods in the year, divides that result by the number of days in the year, and multiplies it by the billing amount. Additionally, the system calculates an adjustment in the last period of the recurring billing cycle that uses the same method of proration, so that the total amount billed or paid equals the number of days tenancy.

3: Prorate the billing amount based on the actual number of days in a month. This option is valid only for a monthly billing frequency.