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A usage-based charge is either prorated or fully-billed. The difference is how Lago charges a unit added mid-period: prorated charges bill it for the days it was used, fully-billed charges bill it for the whole period.

Prorated charges

Only charges that are recurring (billable metric with recurring argument set to true), invoiced in arrears, with a charge_model defined to standard, graduated or volume can be prorated. If your charge is pay-in-advance, it can only be prorated if the charge_model is standard.
Set the prorated parameter to true to prorate a charge. A unit added during the billing period is then charged for the number of days it was used, not for the whole period.Take prorated Seats, where each seat costs $10. A seat added on July 10th is used for 22 days of the period, so Lago charges it for those 22 days:Example: (1 Seat x $10), used for 22 days = $7.33

Fully-billed charges

Note that metered charges (billable metrics with recurring set to false) are automatically fully-billed.
Set the prorated parameter to false to bill a charge in full. A unit added during the billing period is then charged for the whole period, whatever the number of days it was used.Take fully-billed Seats, where each seat costs $10. A seat added on July 10th is used for 22 days of the period, and is still charged in full:(1 Seat x $10), used for 22 days = $10.