Which function returns the current time in a Formula - Time of Day field type?

The function that returns the current time in a Formula - Time of Day field type is indeed the ToTimeOfDay(Now()). This function works by first utilizing the Now() function, which retrieves the current date and time. However, since a Formula - Time of Day field specifically requires just the time component, the ToTimeOfDay function is employed to extract and convert that full date and time into a time-only format.

This is essential because the other options do not provide the correct output type. The Now() function returns the complete date and time, which exceeds the requirements of a Time of Day field. While TimeOfDay(Now()) might seem plausible at first glance, it is not an actual function in Quickbase's formula syntax. Finally, Today() only returns the current date without any time component, making it irrelevant for obtaining the current time. Thus, ToTimeOfDay(Now()) effectively fulfills the needs for a Formula - Time of Day field by providing just the current time.