What is a default rate? How do I add a default rate?
A default rate is a mileage rate that is created without specifying a date. This is applied to mileage expenses that are recorded before the initial start date. For example, if the mileage rate is defined as .55$ on Feb 1st, then any mileage expenses recorded after that will have that rate applicable. However, if a mileage rate is recorded for January 31st, then the default rate will be applicable for that mileage expense.
To add a default rate, please follow the below steps:
- Go to Policies.
- Select the policy for which you would like to add a default mileage rate.
- Under the mileage tab, click ’+add new rate’.
- Add a mileage rate without specifying any date and press enter.
- A new default rate is created, which will be applied to all users associated with this policy.