How are time entries valued, and where is this reported for invoice decisions making?

QUESTION: How and when are time entries valued and where is this reported for invoice decisions making? Why is the entry showing a base rate when the matter is using a different rate category?

RESPONSE: Time entries are valued during the posting function. The application calculates and stores the time entry value calculated as the result of the time entry element (hours) multiplied by the rate in place for the timekeeper found in the rate category assigned to the matter,  with an effective date that corresponds to the transaction date of the time entry. Although special client or matter level rates for a timekeeper (if any) take priority over those of the rate category, if the rate category did not include a rate for a timekeeper on the date of the entry at the time it was posted because one was never entered for the period or because the rate expired,  Acumin will value the entry at the time of posting using the base rate.

The DDI report details the content of the posted time record - the time entry element (hours), the rate in place for the rate category assigned to the matter on the transaction date of the time entry and the time entry value calculated at posting. This report, which is used for invoice decision making, also shows the average rate per member in the summary section. This means that if the DDI report is generated for a period where there was a rate change for one or all members, this change is reflected in the average rate shown  (sum of the entry values divided by the sum of the time elements).