– Inserts current date
This formula will only update when the worksheet is recalculated or when you reopen the workbook. That’s usually not a problem since the date only changes once a day. Also, you may have to format the cell to give you your desired date format.
– Inserts Current Date & Time
This formula gives you both the date and time in the same cell (i.e. 19-May-03 9:00pm), however, is less useful because the time in the cell won’t change
until your worksheet recalculates or when you reopen your workbook. If you just want the cell to display the time only, you’ll have to change the number format by selecting Format, Cells, Number, Time, (select a desired time format), OK