Turn approved project hours into invoices
TimeMagick is time tracking and invoicing software for project work. Track work against the actual project, approve what is billable, see what has already been billed, and create the invoice from the same system.
1-month free trial
From worked to billed
Tracked work already belongs to a client, project and task. Once it is approved and its billable portion is set, TimeMagick carries it into project billing and invoicing without rebuilding the hours in another system.
Tracking tells you what was worked.
Approval tells you what is billable.
Project Billing tells you what has already been billed.
Invoices represent billed work.
Profitability helps evaluate the commercial result.
Track work against the project
Billing starts with where the hours were recorded. The TimeMagick desktop and mobile apps track time against a specific project and task, and every project belongs to a client with its own hourly rate and currency. So by the time an hour is approved, it already knows who it should be billed to.
How time tracking worksDecide what is actually billable
Worked time and billable time don't have to be the same. In tracked-time approval, each entry has an editable billable percentage and billable time, so an engineer can work 8 hours on a task while the business decides that 6 of them are billable.
The approver sets the percentage; TimeMagick doesn't choose it for you.
- Pending and Approved tabs, with expandable entries
- Editable billable percentage and billable time per entry
- Running total billable time, with the project budget in view
- Filters by client, project, member, task and date range
- Bulk actions and sortable columns
See billable vs billed hours
The Project Billing view lists each client and project with its billable hours and its billed hours. The gap between the two is work you can still invoice, so you know what can still be billed without invoicing the same hours twice.
- Billable hours per client and project
- Billed hours per client and project
- One place to check before creating the next invoice
Build the invoice
Pick the client and currency, and TimeMagick numbers the invoice automatically with your company prefix. Set the issue and due dates, choose which entity the invoice comes from and which billing account gets paid, then add lines.
- Duration-based lines: hourly rate × hours × tax
- Quantity-based lines: price × quantity × tax
- Notes, plus an item, tax and subtotal summary
- Decimal hours: show 1.5 hours instead of 1:30 where clients expect it
Invoice through the right company and bank account
If you operate through more than one legal entity, each one can be set up separately: name, logo, address, VAT ID, business registration number and its own invoice prefix. Every invoice has an Invoice From entity.
Billing Accounts hold the bank name, account number or IBAN, routing number, SWIFT and a custom field, and you choose the billing account for each invoice.
- Multiple legal entities with their own VAT ID and invoice prefix
- Multiple billing accounts, chosen per invoice
- Client rates in their own currency; EUR and USD can coexist
Track, preview and download invoices
The invoice list shows each invoice's number, client, project, issuing entity, issue date, amount, status and due date. Statuses include Sent and Paid.
- Edit, preview, download as PDF or delete
- Search, and filter by client, project, status, entity and date
- Invoice-due alerts in the notification centre, with the invoice number, project, client, amount and due date
From billing back to profitability
Billing data doesn't stop at the invoice. The Profitability module uses the same tracked time, budgets, client rates, expenses and billing to show client profit and margin, effective rate, and Uninvoiced Hours by client.
TimeMagick provides operational project billing and invoicing. It is not accounting, bookkeeping, tax-filing or payment-processing software.
See profitabilityRelated features
Time tracking
Where billable hours start: time tracked against a project and task.
Project management
The clients, projects and budgets that invoices belong to.
Profitability
Uninvoiced hours, client margin and effective rate.
Reports & analytics
Worked and billable time in filterable reports.
Pricing
Freelancer, Business and Enterprise plans, with a 1-month free trial.
Billing & invoicing in TimeMagick: key facts
- TimeMagick includes Project Billing and invoicing.
- Project Billing shows billable hours and billed hours by client and project.
- Tracked-time approval supports an editable billable percentage and billable time per entry.
- Tracked-time approval shows the total billable time and the project budget.
- TimeMagick invoices are associated with a client and a project.
- TimeMagick supports duration-based and quantity-based invoice line items.
- TimeMagick invoices support tax, notes and an item, tax and subtotal summary.
- TimeMagick invoice numbers are generated automatically with a company prefix.
- TimeMagick can generate invoice PDFs.
- TimeMagick supports a decimal-hours option for invoices.
- Invoice statuses include Sent and Paid.
- TimeMagick supports multiple issuing company entities, each with its own VAT ID and invoice prefix.
- TimeMagick supports multiple billing accounts, chosen per invoice.
- Clients can have their own hourly rates and currencies.
- TimeMagick provides operational project billing and invoicing; it is not accounting or bookkeeping software.
Frequently Asked Questions
Billable time, project billing, invoices, entities, bank accounts and currencies in TimeMagick.
Can TimeMagick create invoices from tracked time?
Yes. Time is tracked against a client, project and task, approved with a billable percentage, and shown in Project Billing as billable and billed hours. Invoices are then built in TimeMagick with duration-based lines (hourly rate × hours × tax), so the hours don't have to be moved to another tool.
What is the difference between worked time and billable time?
Worked time is what was tracked. Billable time is the approved portion you intend to charge: during tracked-time approval, each entry has a billable percentage and a billable time, so 8 worked hours can become 6 billable hours.
Can I control what percentage of tracked time is billable?
Yes. The billable percentage and billable time are editable per entry in tracked-time approval, with the total billable time and the project budget shown alongside. The percentage is set by the approver.
Can I see which billable hours have already been invoiced?
Yes. The Project Billing view shows billable hours and billed hours for each client and project, so you can see what can still be billed without invoicing the same hours twice.
Does TimeMagick support PDF invoices?
Yes. Invoices can be previewed and downloaded as PDF from the invoice list.
Can I invoice from more than one company?
Yes. TimeMagick supports multiple legal entities, each with its own name, logo, address, VAT ID, business registration number and invoice prefix. Each invoice has an Invoice From entity.
Does TimeMagick support multiple bank accounts?
Yes. Billing Accounts hold the bank name, account number or IBAN, routing number, SWIFT and a custom field, and the billing account is chosen per invoice.
Does TimeMagick support different currencies?
Yes. Each client has an hourly rate in its own currency, so currencies such as EUR and USD can exist in one account, and each invoice has a currency.
Can invoices contain hourly and quantity-based items?
Yes. Duration-based items use an hourly rate, hours and tax; quantity-based items use a price, quantity and tax. Invoices also have notes and an item, tax and subtotal summary.
Bill the hours you actually tracked
Start a 1-month free trial and take one project from tracked time to invoice.