Rates: the rate that applied that day

Outcome

The active rate period is correct for today, and earlier periods stay intact.

Who it's for

Planner / finance partner

Prerequisites

• Permissions on client or people rates
• Known new amount and start date

Steps

1. Open client or people rates for the entity you are changing.
2. Find the active rate record (open valid-to period).
3. Close that period on the change date and create a new rate the same day with the new amount.
4. Do not overwrite amounts in place. Invoicing uses the rate that applied that day. A later change does not rewrite past invoices.
5. Check that reporting and invoice generation find the expected rate for sample dates.