The Proration / Pro Rate option in Swim Manager affects three different payment types:
- Pay-in-full: Pro-rated price charged to registrant is based on entire length of program
- Note: Formula is Total Cost of Program X (Days Remaining in Program / Total Days in Program)
- Example: If registering for program starting March 1st and ending July 1st with total cost of $400 registering on March 20th, cost is: $400 X (103 days remaining in program / 122 total days in program) = $337.70
- Payment Plan Payments: Pro-rated price charged to registrant is based on entire length of program
- Note: Formula for payments: (Days Remaining in billing period / total days in billing period) = Total Due;
- Note: Total Due / Z remaining payments = Cost per remaining payment
- Example: When the program from runs from January 1st to December 31st with payments on the first of every month (12 in total), costing $1200 ($100/month) and the parents register a child on March 20th is as follows: (286 days remaining in program / 365 days) X $1200 = $940.27 total cost for the program. This brings the cost per month to $104.47 since there are 9 payments left
- Billing Schedule: Pro-rated price charged for remaining days in the current billing cycle. Full price will be charged in remaining payments
- Note: Formula for payment is (Days Remaining in billing period / total days in billing period) = Total Due
- Example: If a program is set for $100 per month and the parent signs up on the 20th of a 30 day month, they will be charged $100 / 30 x 10 = $33.33. Future payments will be the regular $100 per month
