billable

[bil-uh-buhl]
adjective
1.
that may or should be billed: Attorneys put in hundreds of billable hours on the case.
noun
2.
an active customer account.

Origin:
1570–80; bill1 + -able

nonbillable, adjective
unbillable, adjective
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
billable (ˈbɪləbəl)
 
adj
referring to time worked, esp by a lawyer, on behalf of a particular client and for which that client will be expected to pay: a timesheet of my billable hours

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Etymonline
Word Origin & History

billable
1570s, from bill (1) + -able.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
And, in the end, our own consulting firm will only need to charge eleven
  billable hours.
Some accounting, consulting and law firms are also scrapping the billable hour,
  often at the request of their clients.
Few managing partners know their firm's profit per billable hour, even though
  that is the main product law firms sell.
If this catches on, it will spell the end of the billable hour.
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