If your username has the right permissions, you will see a blue, clickable link under section Rate Information in any folio:
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This link enables you to edit the rate on a single reservation basis.
When clicking the Edit Rate link, another panel will pop-up: you will have two options to edit the rate:
The first option is the Daily Price Edit, via which you can change the price for each night:
Change the rate in one or more boxes representing dates on reservation and when finished, click on the yellow button Update.
The other option is the Fixed Price Edit, via which you can edit the overall cost for the reservation:
Once finished, click on the yellow button Update.
You will notice that when the rate is changed, the Rate Drop Down menu will change to show the written Overridden Rate, sign that the original rate has been overridden; all taxes will also be re-calculated on the basis of the new rate: