I use Freshbooks for all my time Tracking and Invoicing needs. It’s free, easy to use, web based, flexible and customizable. Freshbooks describes it’s services as “The fastest way to track your time and invoice your clients. Send, track and collect payments quickly. Great for teams, freelancers and service providers. Streamline your business through recurring invoices. Set up auto-billing to automatically charge your client’s credit card.” To access the web application and sign up for a free account go to: http://www.freshbooks.com/?ref=6eff94cb68674-1