Apportionment calculation using English quarters
Start date | 01/06/2011 |
|---|---|
Price per YEAR (excl VAT) | 12000 |
Payment frequency | 3 months |
Quarter type | English |
Start payment frequency | 24/06/2011 |
Start / end calculation based on price of | Year |
VAT | 19% |
Contract line ends in a period containing Feb 29
Start date | End date | Amount (excl VAT) | Amount (incl VAT) |
|---|---|---|---|
01/06/2011 | 23/06/2011 | 3000 * (23 / 91) = 758.24 | 758.24175 x 1.19 = 902.30 |
24/06/2011 | 28/09/2011 | 3000 | 3570 |
29/09/2011 | 24/12/2011 | 3000 | 3570 |
25/12/2011 | 28/12/2011 | 3000 * (4 / 91) = 131,87 | 131.86813 * 1,19 = 156.92 |
Explanation of the above example:
• If you are using non-standard quarters, such as English quarters, the Apportionment calculation method is always Quarter.
• The payment frequency is done quarterly and the apportionment calculation is done on the basis of the English quarters.
• Here, the payment start date is 01/06/2011. The apportionment calculation is done for the period between 01/06/2011 and 06/23/2011. The payment calculations for the next two quarters are normal.
• As the period between 25/12/2011 to 28/12/2011 is the beginning of the first English quarter (25/12/2011 to 3/24/2012), the calculations done in this period take February 29th into consideration.
• The amounts for the first and last quarter are calculated as follows:
◦ 3000 (amount for a full quarter) * 23 (# days of contract line) / 91 (# days of full quarter) = 758.24
◦ 3000 (amount for a full quarter) * 4 (# days of contract line) / 91 (# days of full quarter in leap year (2012) or 90 days for non-leap year) = 131.87
 | For more information on start and end dates of English quarters, see Quarters - comparative overview. |