Yes, that is correct. Whenever you first "create" a Time Entry that Rate is locked into the entry unless you go in an change something. If you change codes for Client, Project or Task, and they have a different rate, then it will change, but just changing one of the Codes will not. The reason is, say for example you are changing your client rate. If you changed that rate, if all your old Time Entries also changed, all your Invoices would now be invalid (wrong). So that is why rates are locked in when the initial record is created. Hope that makes sense.
