Changing Default Rate on Matter Not Updating WIP

Changing the Default Rate Code for a Matter only impacts fee transactions entered after the change has been made.  Existing fee transactions are not impacted.  To recalculate existing Work-In-Process using the new Default Rate Code, you should call up the Matter In Bill Preparation and perform a global rate change.  To do this, open the Billing Manager and choose ACTION, Bill Preparation. Call up the Client-Matter in question and use the current date as the cutoff date. Use your mouse to select all fee transactions and choose ACTION, Global Edit.  The following window will appear:

Choose the new Rate Code you want to use.  By default, the Bill Amount of transactions will be recalculated using the new rate.  If you do not want the system to recalculate the bill amount, remove the check mark from the option.  Click the OK Button and the selected transactions will be recalculated using the new Rate Code.

NOTE: A global change of the Rate Code through Bill Prep cannot be reversed using the “Reset All to Original” option under the ACTION Button.