Currently, there is not a way in the system you can lock in rates yourself but you can send this request to Support.
There are two different scenarios where Rate Locks requests fall into. Below are the two different scenarios:
- I would like to lock in my user rates as of (example) December 31st, 2018 for all users so that as of January 1st, 2019 I can adjust our rates without affecting past time. (These are classified as entry locks.)
- I would like to lock in the rates setup on all current clients and projects as of (example) December 31st, 2018 to my old rate. As of January 1st, 2019 only new Clients/Projects added I will want to adjust to my new rate.
If you would like this completed you will need to email Support@bill4time.com with the information below:
1) Your Firm ID
2) What scenario of the two you are trying to accomplish with the exact dates like in the examples above
3) What user(s) you would like the rates locked for (if all, you can say "all users")
4) What the old rates are and what the new rates will be changing to
5) Effective date of the new rate.
Please note: In order for the rate lock to be completed correctly, you will be need your old rate(s) in the system while the lock is being completed. Once the rate lock is completed, you will be notified of its completion. You can then adjust to your new rate(s). Rate lock requests can take up to 7-10 business days for completion.