Before you start tracking your billable hours, you first have to determine the hourly rate you’ll charge clients for your work 👍 Set a target for the annual salary you’d like to earn 😎 Do some research and make sure your target salary is in line with what other businesses offering similar services earn 🙈 Divide the salary by how many hours you work per year. This is 2 080 hours for a full time job. Once you have that hourly rate, you may wish to raise it slightly to offset the amount of time you’ll spend working on non-billable tasks, like administrative work and client pitches. It varies by industry, such as architects. There are many ways that you can bill your time. 
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Experts from lessaccounting.com More information is available. For many different reasons, people track their time. Whether you’re looking to be more productive or save your company some money will guide which method of time tracking you choose. If you decide on a goal in advance of picking a system, you’ll be able to use it much more thoughtfully and effectively. For example, if you’re trying to save money, then you won’t need to track every single minute of every single day like a person interested in productivity would need to do.Marcus Neto of BlueFish Design Studio says“If you’re not tracking billable hours you’re losing money.” (edited by Jolanta Kim on February 23, 2020) 
Activecollab.com It is important to establish the hourly rate that you will charge clients before you begin tracking your billable hours. A target income for your annual earnings can be set, as an example. Make sure you do your research so that it matches the income of other companies offering similar services. When you’ve determined the target figure, multiply it by the number. Working hours in a yearFor a 40 hour work week, it will take you approximately 2,080 hours. You may want to increase your hourly rate once you are comfortable with it. This will offset any time spent on activities that don’t require billing.