NetTime is a Simple Network Time Protocol (SNTP) client for Windows 95/98/Me/NT/2000/XP/Vista/7/Server 2003/Server 2008. (32 bit and 64 bit operating systems are both supported)
If you're looking for a program to keep your system time accurate, you've just found it! Its main attributes are:
•Open Source
•Easy to Install and Use
•And most importantly: Reliable

NetTime was originally written by Graham Mainwaring in 1997 with an open source release made in 1998. Graham made a number of updates to the program until he lost interest and finally abandoned the project officially on the 1st of July 2004. The NetTime project has been resurrected by myself, Mark Griffiths, in 2011, and I'm now making an updated version available here:

If you find NetTime useful, please consider making a donation to show your appreciation and to encourage further development of NetTime!

Previous versions as well as the source code can be downloaded from the SourceForge project page

Note: When upgrading from a previous version, you will need to shut down both the NetTime Service as well as the Tray Icon before running the installer. If you uninstall the old version first, you will need to restart your computer before starting the new installer.

Configuration Notes:

Most settings should be fairly self explanatory, however some people have asked for clarification on certain settings:

Max Free Run: Indicates how long the program will run for without getting a valid sync befores it considers the local time to no longer be accurate. Once this time period expires, the tray icon will change to a cross and if it's configured to act as a time server, it will stop responding to requests for the time. If Time adjustment greater than: The default setting for this means that the local time will be updated regardless of how much difference there is between the current local time and the time reported by the remote server. There shouldn't normally be a reason to change this as the current version of NetTime will check with multiple servers to ensure that it isn't using an invalid time. If you are using NetTime to act as a time server, you will need to disable the built in Time Service in Windows first. Although the description for the Windows Time Service indicates that disabling it may prevent other services from loading, I'm not currently aware of any such services that do actually require it. If you're not using NetTime as a time server, disabling the Windows Time Service is optional, but there shouldn't be any harm in disabling it to save a bit of RAM.

Notes for Administrators:

You can quickly install the client by running the above installer with either the /silent or /verysilent command line switches. If you want to preconfigure settings that are different to the defaults, they are stored in the registry under:

HKLM\Software\Subjective Software\NetTime

On 64 bit systems, the above location is remapped to:
HKLM\Software\Wow6432Node\Subjective Software\NetTime

Net Time Setup 314 Download Link
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