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In this video tutorial, viewers learn how to set up hourly rates, track billable hours, and invoice clients. The first step is adding clients on the clients page, followed by creating projects linked to those clients. Viewers are guided to name the project, select a client, and choose a color. If needed, existing project settings can be copied from a template. For bulk creation, users can import a CSV file via the import tab in workspace settings. Once a project is created, an empty task list appears where users can categorize time tracking by activity types like design or development. Finally, viewers are shown how to establish a global hourly rate in workspace settings that applies to all time entries.