To enable a person to enter current time in a cell, enter the following formula in Data > Validation > Custom
=ABS(A1-(NOW()-INT(NOW())))<(1/(60*24))
In this validated cell now, a person can enter time either by pressing Ctrl+Shift+; or by simply typing in the time entry. The validation rule is such that it will accept only time which is within a minute of current time. Change the 1 in the formula to change the 1 minute logic.
Validate cell to accept current time
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