TSSA Prorate Calculations

There are different methods for how proration can be calculated using TSSA Forms Online. This section will discuss the five different methods including:

• Anniversary Date Method
• Prorate First Month's Rent
• Prorate First Month and Collect 2nd Month (only after the 15th)
• Collect Full First Month and Prorate 2nd Month
• Import Proration Information (Do Not Calculate)

Anniversary Date Method

The Anniversary Date Method means that you will not have any type of prorate. Instead, the full monthly amount will be exactly the same each month and it will be due on the same day every month as the beginning date of the lease.

Below is an example of what the settings may look like using the Anniversary Date Method of proration.

Dollars and Dates:

• The Lease Begins on date is 8/3/2015.
• The Monthly Rent is $100.00.
• The Monthly Rent and the Current Mo's Rent should be IDENTICAL.
• You will NOT show any pro-rated amount.

Dollars and Dates: Anniversary Date Proration

Calculation of Initial Payment:

Initial Payment: Anniversary Date Proration

Prorate First Month

When using this method, dates and calculations will also be affected by whether you have selected prorate using actual dates in the month or prorate using 30 days per month in the TSSA Forms Online settings.

Below is an example of what the settings may look like when using the Prorate First Month method and you are prorating using the actual days in the month.

Dollars and Dates:

• The Lease Begins on date is 7/29/2015.
• The Monthly Rent is $50.00.
• The program is dividing the Monthly Rent ($50.00) by the exact number of days in the month (July has 31 days). The program includes TODAYS date as one of the prorated days. Now $50.00/31 is actually $1.612903225 but since our program only allows two places after the decimal point, it is rounded to read $1.61. So $1.61 x 3 days is really $4.83 which is NOT what is displayed in Current Mo's Rent. Instead, Current Mo's Rent displays the truer total of $1.612903225 x 3 days = $4.84.

Dollars and Dates: Prorate First Month

Initial Payment: Prorate First Month

Prorate First Month & Collect 2nd Month (Only after 15th)

When using this method, dates and calculations will also be affected by whether you have selected prorate using actual dates in the month or prorate using 30 days per month in the TSSA Forms Online settings.

Below is an example of what the settings may look like when using the Prorate First Month & Collect 2nd Month method and you are prorating using the actual days in the month.

Dollars and Dates:

• The "Lease Begins on" date is 7/29/2015.
• The "Monthly Rent" is $50.00.
• The program is dividing the Monthly Rent ($50.00) by the exact number of days in the month (July has 31 days). The program includes TODAYS date as one of the prorated days. Now $50.00/31 is actually $1.6129032258 but since our program only allows two places after the decimal point, it is rounded down to read $1.61. So $1.61 x 3 days is $4.83 which is NOT what is displayed in Current Mo's Rent. Instead, Current Mo's Rent displays the truer total of $1.6129032258 x 3 days = $4.84.
  
  Dollars and Dates: Prorate First Month & Collect 2nd Month

Calculation of Initial Payment:

• Current Month's Rent should pull directly from Current Mo's Rent. (in the Dollars and Dates section). THIS IS THE PRORATED AMOUNT.
• Additional Rent thru should be the last day of the next month following the Lease Begins on month. Since the Lease Begins on date is 7/29/2015, the Additional Rent thru date should be 8/31/2015. The Additional Rent thru amount should be IDENTICAL to Monthly Rent (in the Dollars and Dates section).
• Next Rent Payment Amount should be IDENTICAL to Monthly Rent (in the Dollars and Dates section).
• Next Rent is Due on should be the first day of the month following the Additional Rent thru month. So, the lease begins on 7/29/2015, the additional rent thru date is 8/31/2015, and next rent is due on 9/1/2015.
  
  Initial Payment: Prorate First Month & Collect 2nd Month

Collect Full First Month & Prorate 2nd Month

When using this method, dates and calculations will also be affected by whether you have selected prorate using actual dates in the month or prorate using 30 days per month in the TSSA Forms Online settings.

Below is an example of what the settings may look like when using the Collect First Month & Prorate 2nd Month method and you are prorating using the actual days in the month.

Dollars and Dates:

• The Lease Begins on date is 7/29/2015.
• The Monthly Rent is $50.00.
• The Current Mo's Rent should be IDENTICAL to Monthly Rent because you are only prorating the SECOND month's rent which appears in the Calculation of Initial Payment section under Additional Rent thru.
  
  Dollars and Dates: Collect Full First Month & Prorate 2nd Month

Calculation of Initial Payment:

• Current Month's Rent should be IDENTICAL to Monthly Rent under Dollars and Dates.
• Additional Rent thru should be the last day of the next month following the Lease Begins on month. Since the Lease Begins on date is 7/29/2015, the Additional Rent thru date should be 8/31/2015. The Additional Rent thru amount IS THE PRORATED AMOUNT. The program is dividing the Monthly Rent ($50.00) by the exact number of days in the month (July has 31 days). The program includes TODAYS date as one of the prorated days. Now $50.00/31 is actually $1.6129032258 but since our program only allows two places after the decimal point, it is rounded down to read $1.61. So $1.61 x 3 days is $4.83 which is NOT what is displayed in Current Mo's Rent. Instead, Current Mo's Rent displays the truer total of $1.6129032258 x 3 days = $4.84.
• Next Rent Payment Amount should be IDENTICAL to Monthly Rent (in the Dollars and Dates section).
• Next Rent is Due on should be the first day of the month following the Additional Rent thru month. So, the Lease Begins on 7/29/2015, the Additional Rent thru date is 8/31/2015, and Next Rent is Due on 9/1/2015.
  
  Initial Payment: Collect Full First Month & Prorate 2nd Month

Import Proration Information (Do Not Calculate)

The Import Proration Information method means TSSA Forms Online will NOT make any prorate calculations. Instead, the calculations will all import into TSSA Forms Online from your property management software.

If there is an error in calculation, it will be from your property management software.