prorate - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “prorate”

prorate

verb [T]
 
 
/ˌprəʊˈreɪt/
ACCOUNTING to calculate a cost, payment, or price according to the number of hours worked, how much of something has been used, etc. in relation to a larger number of hours worked, a larger amount of something used, etc.: The bonuses for part-time employees should have been prorated based on their hours.
proration noun [U]
(Definition of prorate from the Cambridge Business English Dictionary © Cambridge University Press)
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