Recalculate historical bills after saving,, can someone please tell me what this tick box does please

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Hi :

Do you mean this select box in below pic?

It is used in this situation.

You changed your power tariff mode(such as unit price per kWh, template from TOU to Tiered), and want to overwrite the bill recorded previously with the new template.
After you select this, the system will help you to recalculate the old billing with the new power tariff template.

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