Rate Lock Client Level (Scenario #2)

** Updated as of October 2024: Completion now within 2 Business Days **

Scenario #2 Rate Lock Explanation (Client Level)

This rate lock applies to Clients. Any Client created on or before the requested date will retain their existing rates at the time of the lock. This is typically used when you want to maintain lower rates for existing clients while applying higher rates to new clients.

Common Situations for Requesting a Client-Level Rate Lock:

• I want to increase rates for the new year, but current client rates are already set by contract.
  You can request this rate lock to ensure all existing Clients keep their current rates, while new Clients will be charged at the updated rates.

• I want to reward loyal clients by keeping their rates unchanged while increasing rates for others.
  You can request the lock for specific Clients so they maintain the old rates, while other Clients experience the standard rate increase.

• A specific User is being promoted but will continue to work on tasks for existing Clients.
  You can lock rates for this User, either for all Clients or specific ones, ensuring old tasks remain at the previous rates.

Note: Rate locks will not affect entries that have been overridden or are on finalized invoices.

Submitting a Scenario #2 Rate Lock Request

To request a rate lock, send an email to support@Bill4Time.com. Make sure your account is set to the old rates during processing to avoid locking in incorrect rates.

General Request Information:

For a Scenario #2 Rate Lock, include the following in your email:

• Company ID
• Rate Lock Scenario: #2
• Effective Date: Lock entries on or before 00/00/2024, so new rates apply from 00/00/2024 onward.

Specific Clients, Projects, or Users:

If your request applies to specific Clients, Projects, or Users, follow these steps:

1. Run the User Rates Report, selecting relevant Users, Clients, or Matters.

   • Exclude disabled users, clients, or matters, as rate locks cannot be performed on them.

2. Export the report to Excel and attach it to your email.

   • This ensures accuracy, as the system uses IDs to avoid confusion between Clients or Matters with similar names.

3. Edit the Excel file: If not all entries need to be locked, remove (don’t hide) any unnecessary Users, Clients, or Matters from the Excel file.

Alternatively, you can send separate files for Users, Clients, or Matters if preferred.

After the Rate Lock Is Completed

A member of the Support Team will notify you once the rate lock is complete. You can then safely update your rates. If you need help with this process, click here for instructions.

All Clients affected by the rate lock will show the locked rate for entries dated before the effective date. On the Client's page, under the Billing Rates subtab, you’ll see the “Override Rate” column with a checkmark next to the locked rate.

Note: Finalized and billed entries will not be updated by the rate lock. If necessary, you can unfinalize those invoices after the rate lock is applied to pull in the updated rates.