Billable hours method

The billable hours method is a way for professionals, like lawyers or consultants, to charge clients for their time. They track the hours spent working on a client’s project or case and then bill the client based on that time. Each hour worked is multiplied by an agreed-upon hourly rate. This method ensures that clients pay for the actual time invested in their work, providing transparency and accountability. It’s commonly used in service industries where time directly translates to value.