Proration
Proration Type: noun Pronunciation: /proh-ray-shun/ Also spelled or known as: Pro Rata Allocation Plural: Prorations Related: Royalty Allocation What does Proration mean? The allocation of payments, costs, royalties, or other amounts proportionally according to an agreed formula or period of time. Proration is commonly used when dividing royalties among co-writers, allocating subscription revenue, or calculating […]