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I understand that you're looking for an easy and efficient way to update your billing rates. Let's change it within the products and services list, @rbtservices.
Since you're the only one and don't have an employee profile, the rate on your timesheet comes directly from the Service Item you use. Therefore, let's modify the rate used.
Here's how:

3.Update the billable hourly rate under the Sales price/rate section.

4. Save and close after.
After updating the service item, refresh the page to sync the change. On the timesheet, briefly switch the entry to a different service item, then switch back to the original one, and click Save and Close.
If you have questions or need assistance, please reply to this thread.