I spent all day yesterday looking at time tracking & billing solutions and I feel like I got nowhere!

I signed up for the free trial account for several programs and didn't find anything that fits my needs, so I was hoping maybe someone who uses what I'm looking for might read this and tell me what it is!
My requirements are:
- Must be a cloud (internet) application - no desktop software.
- Must let me log time without having to assign it to a task - just enter the number of hours and a description of work performed.
- Needs a semi-robust reporting feature that will allow me to pull custom reports on # of hours logged to a certain project during a certain time period, billable time vs. non-billable, etc.
- Customizable invoicing - must let me get rid of columns/fields I don't need and will show the descriptions from my time entries.
If anyoone knows of an application like this, please let me know!