Updating Wip After a Rate Change

To update existing Work-In-Process in the system:

Go to File Maintenance.

Click on Tools > Manage Codes.

In the drop down choose Show codes for Rate Sets.

Highlight the Rate Set you want to update.

Choose Tools > Update Wip on Selected Rates.

Put in the date that you want the change to take effect (i.e., January 1, 2012).

Click OK.

This will update Work-In-Process entries with the new rates.  This update process only updates those transactions originally entered using the same Rate Code.