NetManager as an NTP client
The NetManager has an internal clock. Its time can be synchronised with external time servers. You can specify external time servers to use either within the Console Menu or using the Network > Time pages within webadmin.
When an external time server is being used, the length of a 'tick' of the internal clock will be altered to slowly bring the clock in sync with the external source. So for example, if the NetManager clock is running fast, each second will actually be slightly shorter than a real second. In this way, time will never go backwards (it monotonically increases) which would confuse programs when files suddenly appear to have come from the future.
When an external time source is set, the NetManager will do a step-change at boot time (i.e. before any programs start up). Therefore, if the time is a long way out, you should reboot after setting the time servers to ensure everything is in sync ASAP.