Using Excel's TIME Function

Summary
The TIME function in Excel will return a time in decimal format. The returned values will range from 0 (zero) to 0.99988426, representing 12:00:00 AM (0:00:00) to 11:59:59 PM (23:59:59). The cell will be formatted as a date if the cell was a general format prior to entering the function.Syntax
=TIME (hour, minute, second)Syntax Breakdown
HourHour is a required value and can be a number ranging from 0 (zero) to 32767. If the hour value is greater than 23 it will be divided by 24 and the remainder will represent the hour value.
For example, TIME(32767,0,0) = 32767/24 = 1365.291667. Remember, only the remainder (0.291667) will represent the hour value. When formatted as a time 0.291667 = 7:00:00 AM.

Minute
Minute is a required value and is a number that can range from 0 (zero) to 32767. If the minute value is greater than 59 it will be converted to hour and minutes.
For example, TIME(0,1050,0) = 1050/60 = 17.5. The 17 represents the hours (5 PM) and 0.5 is half of one full hour, or 0:30:00. When formatted as a time 17.5 = 5:30:00 PM.

Second
Second is a required value and can be any number from 0 (zero) to 32767. If the second value is greater than 59 it will be converted to hours, minutes, and seconds.

Usage Notes
Negative ValuesIt is acceptable to supply negative values for the minute or second argument, or both.

Insert Time Value Whose Value is Updated
The TIME function does not update the time each time the spreadsheet is accessed or updated. If you require a time value that is updated when the workbook is opened, use the NOW function.
Adding or Subtracting Time Values
If you need to add or subtract time values, maybe to calculate how long it takes to complete a series of tasks, you can view this post on adding and subtracting time values in Excel [LINK].