How do you prorate a monthly fee?

Determining the number of billable days in a given month involves a straightforward calculation. To begin, you must first identify the total number of days in the month in question. This information is commonly known and can be easily accessed.

Next, you subtract the day on which the service or product commences from the total number of days in the month. However, it's crucial to add one day to the total before performing the subtraction. This adjustment ensures that even if the move-in day coincides with the first day of the month, you still account for the full billing cycle.

For instance, let's assume the move-in day falls on August 5th. We first identify that August has 31 days. Then, we add one to 31, giving us 32. From this total, we subtract 5, resulting in 27 billable days for the month.

Once you have determined the number of billable days, you proceed to calculate the prorated amount. This involves multiplying the daily rate by the number of billable days you've just calculated.

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