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This video tutorial covers setting up hourly rates, tracking billable hours, and invoicing clients. Before tracking time, clients and projects need to be set up. Clients can be added on the clients page and projects can be created for them, including selecting a client, naming the project, and choosing a color. Projects can be created manually or by importing a csv file in workspace settings. Task lists can be created to categorize tracked time by activity type. Hourly rates can be set up in workspace settings with a global hourly rate applying to all time entries.