time bill vs time draft

time bill and time draft both are nouns.

Word	Noun	Adjective	Verb	Adverb
time bill	Yes	No	No	No
time draft	Yes	No	No	No

As nouns, time bill and time draft are synonyms defined as:

time bill (noun)	time draft (noun)
a draft payable at a specified future date	a draft payable at a specified future date