diff --git a/atst/domain/csp/reports.py b/atst/domain/csp/reports.py
index 3f9ccbf8..0e29c5ff 100644
--- a/atst/domain/csp/reports.py
+++ b/atst/domain/csp/reports.py
@@ -1,6 +1,7 @@
 from collections import defaultdict
 import json
 from decimal import Decimal
+import pendulum
 
 
 def load_fixture_data():
@@ -136,3 +137,26 @@ class MockReportingProvider:
                         CLIN_spend_dict[clin]["invoiced"] += Decimal(spend)
             return CLIN_spend_dict
         return {}
+
+
+def prepare_azure_reporting_data(rows: list):
+    """
+    Returns a dict representing invoiced and estimated funds for a portfolio given
+    a list of rows from CostManagementQueryCSPResult.properties.rows
+    {
+        invoiced: Decimal,
+        estimated: Decimal
+    }
+    """
+
+    estimated = []
+    while rows:
+        if pendulum.parse(rows[-1][1]) >= pendulum.now(tz="utc").start_of("month"):
+            estimated.append(rows.pop())
+        else:
+            break
+
+    return dict(
+        invoiced=Decimal(sum([row[0] for row in rows])),
+        estimated=Decimal(sum([row[0] for row in estimated])),
+    )
diff --git a/tests/domain/cloud/reports/test_reports.py b/tests/domain/cloud/reports/test_reports.py
index 1e74e9b9..4c85a9bc 100644
--- a/tests/domain/cloud/reports/test_reports.py
+++ b/tests/domain/cloud/reports/test_reports.py
@@ -1,5 +1,7 @@
-from atst.domain.csp.reports import MockReportingProvider
+from atst.domain.csp.reports import MockReportingProvider, prepare_azure_reporting_data
 from tests.factories import PortfolioFactory
+from decimal import Decimal
+import pendulum
 
 
 def test_get_environment_monthly_totals():
@@ -56,3 +58,46 @@ def test_get_application_monthly_totals():
     assert totals["last_month"] == 700
     assert totals["total"] == 2500
     assert [env["name"] for env in totals["environments"]] == ["A", "Z"]
+
+
+class TestPrepareAzureData:
+    start_of_month = pendulum.today(tz="utc").start_of("month").replace(tzinfo=None)
+    next_month = start_of_month.add(months=1).to_atom_string()
+    this_month = start_of_month.to_atom_string()
+    last_month = start_of_month.subtract(months=1).to_atom_string()
+    two_months_ago = last_month = start_of_month.subtract(months=2).to_atom_string()
+
+    def test_estimated_and_invoiced(self):
+        rows = [
+            [150.0, self.two_months_ago, "", "USD"],
+            [100.0, self.last_month, "e0500a4qhw", "USD"],
+            [50.0, self.this_month, "", "USD"],
+            [50.0, self.next_month, "", "USD"],
+        ]
+        output = prepare_azure_reporting_data(rows)
+
+        assert output.get("invoiced") == Decimal(250.0)
+        assert output.get("estimated") == Decimal(100.0)
+
+    def test_just_estimated(self):
+        rows = [
+            [100.0, self.this_month, "", "USD"],
+        ]
+        output = prepare_azure_reporting_data(rows)
+
+        assert output.get("invoiced") == Decimal(0.0)
+        assert output.get("estimated") == Decimal(100.0)
+
+    def test_just_invoiced(self):
+        rows = [
+            [100.0, self.last_month, "", "USD"],
+        ]
+        output = prepare_azure_reporting_data(rows)
+
+        assert output.get("invoiced") == Decimal(100.0)
+        assert output.get("estimated") == Decimal(0.0)
+
+    def test_no_rows(self):
+        output = prepare_azure_reporting_data([])
+        assert output.get("invoiced") == Decimal(0.0)
+        assert output.get("estimated") == Decimal(0.0)