One of my officemates who uses a Mac recently showed me BK Task Timer, a lightweight but powerful task timer. To my delight, I discovered that BK Task Timer works with Windows, as well. At only $24.95 (and yes, there is a demo version), it is a fantastic alternative to spreadsheets. It does not track expenses, however, so you will have to keep your spreadsheets for that. Or just scan and file your receipts and invoices.
If you are looking for an alternative to the Outlook journal or clumsy Excel spreadsheets, give BK Task Timer a try.