Rate Codes allow for the configuration of multiple Compensation Rate Codes in the system.
Rate Codes can then be applied to Compensation Rates for the purpose of recording compensation against a given Code.
If Rate Codes have not been configured, then only a default value of 'Base Rate' will be displayed in the drop-down when entering in a compensation or compensation transaction. Multiple Rate Codes can be set as default or as the 'Base Rate'.
Rate Codes are reportable using the Data Export Module.
To add a Rate Code, enter a Code and Description, and identify if it should be a Base Rate Code by checking the Base Rate Code check box. When finished, click Save.
Compensation based benefits will only read one Base Rate at a time and will go in order of first added. i.e. if you have multiple compensation rates all starting as of the same date and all listed as a Base Rate, the compensation based benefit will read the very first-rate entered into the system as a Base Rate.