Declarable
'Billable' refers to costs or hours that can be billed to a customer or client. These include hours spent on a project or costs incurred for materials or services. The term refers to activities that can be billed to a client according to agreed upon rates or contract terms. The use of billable hours and expenses is mainly relevant in service industries such as consulting, legal, and IT services. It is mainly used in situations where staff time and costs are an important part of the service offering.
Difference between billable hours and non-chargeable hours
Billable hours refer to hours that can be billed directly to the client, such as project work. Non-declarable hours refer to time spent on tasks that cannot be billed directly, such as internal meetings. The purpose of making hours billable is to ensure that all billable hours are properly billed to the customer. This can maximize a company's profitability.
