What is the use of having ‘Default billing rate’ while setting up a client?

While setting up a project and associating it with a client, the Project rate is picked up from the Default Billing Rate set for the client. This feature saves the time spent in setting up Project rate for each project associated with the client.

For Example:

• Client A has the default billing rate set to $6000.
• A new project X is added and associated with Client A.
• The default project rate for project X will auto-populate as $6000.