An Electra Billing client called our support team today, concerned about the effect of the extra day in the 2106 leap year on the proration of fees. We were able to ease their concern by directing them to the Period Proration setting. Period Proration controls how Electra Billing prorates fees to the correct fee due for the particular billing period. Our Actual/Actual setting will always use the ‘actual’ number of days in a year thus always accounting for Leap years when they occur. This selection provides the most accurate fee calculation while at the same time ensuring the dynamic nature of leap years is accounted for.
(Doug Fritz, Product Manager — Electra Billing)