Maximum of 1 digit (0-9). The Rate Code for new fee transactions defaults to "0", with one exception defined below. After the transaction code has been selected, the source of the default billing rate will be displayed to the right of the Rate Code field.

Note: If you select a cost transaction code (vs. a fee transaction code) with an Amount value greater than “0.00” and a Rate value of “0.00” in the transaction code file, then the default Rate Code will be changed to "8".

0 Uses the default billing rate. The default billing rate can come from a variety of sources. The default billing rate is always used unless you overwrite the Rate Code or change the Rate.
1-6 Indicates the default billing rate will be overwritten. The corresponding timekeeper rate from the timekeeper file will be used (i.e., code "1" refers to rate #1, code "2" refers to rate #2, etc.).
7 Indicates the default billing rate will be overwritten. The Rate from the transaction code file for that transaction code will be used.
8 Indicates the default billing rate will be overwritten. The rate will be calculated based on the Amount field in the transaction code file for that transaction code. A Rate Code of "8" can be used when value billing.
9 Indicates the default billing rate will be overwritten. The Hourly Rate from the Client file will be used.

The button can be used to open the Rate Code Lookup window that allows you to view a list of rate codes and select a rate code by double-clicking it. This window shows the default rate for each Rate Code based on the client, timekeeper and transaction code selected.

See also:   How Tabs3 Selects the Default Billing Rate