Marketcircle’s latest product has been approved by Apple and is available from the App Store. Billings Touch is the company’s professional time billing application, made specifically for Apple’s iPhone and iPod touch. The app can be used in conjunction with Billings, Marketcircle’s Mac application, or as a standalone app.

By making the app standalone, Marketcircle effectively made an application for users on any platform.

“When we began our design process, we didn’t want to do a me-too timing app,” company President, Alykhan Jetha, said on the Marketcircle Web site. “We wanted to raise the bar – something we can be proud of. As you know, from my previous posts and my various interviews on BNN, we think the iPhone represents a new form of mobile computing. It’s the next phase. The iPhone is not just a ‘smartphone’ – it’s a computer that happens to make calls and fit in your pocket.”

Marketcircle recently updated its Mac application adding support for the Billings Touch iPhone app.

A free version of Billings Touch is available from the App Store [iTunes Link], but it costs $15 to unlock all of the features through an in-app purchase.