Time tracking seems very microcontrolish for such a small team, and doesn't really seem worth the overhead. If the team includes freelancers, that's of course a different thing.
You track time so you have metrics and can back up your opinions with facts.
"We need more developers..."
Ok, show me how much work we are doing... and where the hours are being spent... so we can figure out how to optimize and recruit more folks.
There isn't a team out there that can afford not to track how they spend their time. Not tracking hours is like not brushing your teeth... It's such a simple thing, takes 3 minutes a day.
