This is useful in latter versions of Smart Edit as the info (which is accessible when you click the tiny 'i' at bottom right corner of the Edit menu) will display the date/time of a scene.  It is automatically added when you import footage viafire-wire, but is also added automatically when you create a new scene, etc.

But where this internal clock/calendar is most helpful (I found out today) is when editing on the Bogart OS and exporting your file/s to upload to the internet.  I have this video I edited for my sons school and was getting it posted to the school'sFacebook page (which I also voluntarily maintain).  I created a couple of different versions of this short video and wanted to make sure I was loading the latest version.  My internal clock was not properly set which meant I had to think more than I wanted to first thing this morning... so here is how you set the calendar/clock.

Click into the System Settings menu

Click on the 'Set Time' button and you will be presented with this menu:

Adjust the 'Year', 'Month' by clicking on each and selecting and then use the sliders at bottom to set the Hour and Minutes. If you are outside of Germany, I recommend setting the 'Format' to International. If you leave it set to Automatic, it may auto-modify the time if/when you are connected via Ethernet to the internet.

Again - if you are editing with the Bogart OS this comes in handy as the Scenes & Storyboards you export to the Media Manager are auto-stamped with the date/time.  And having the date/time correct allows you to more easily find the file/s you want to use when you bring them over to your computer for uploading to the internet.