The clock on the LabQuest 2 is much better than the original LabQuest. In particular it will not lose the current time when the battery dies or when you do a software update, and can be synced from a variety of sources, including your computer, (via Logger Pro/Logger Lite,) by turning on the GPS, or via the Network Time Protocol, (connect the unit to Wi-Fi.) However, to take advantage of these features, you need to set the timezone.
The default timezone is UTC, (England, Iceland, Portugal, and West Africa.) To adjust the timezone, press the Home key, then Tap on System, and then Time&Date. You can also adjust the clock here, but before you do that, tap on the text that says posix/UTC (next to the word Timezone,) and select a major city in your timezone/daylight savings zone either from the map, (tap and drag,) or from the drop downs. After you set the timezone, you may find your clock is correct, but it isn't, now adjust the time/date from the dialog.
Note that LabQuest 2 cannot go into power save mode while this dialog is displayed. After you are finished, remember to press the X in the upper right hand corner of the screen to close it.