I flip between. Sometimes I just have a day posted, other times I have the time of day, and some we actually break it down to the minute. In some updates I color code thing if people are in different "times" - cause say someone is on a flight somewhere but someone else in the Rp is just sitting and talking. It is easier that way. Then as the times catch up with another, then the color code changes until everyone is on the same page. 

	Currently I have 6 rps running. Duplicity, we only go by a general time of day. Morning, mid-day, night. Same with After Miranda. The Walking Dead and Darker Than Black - we have different times for different groups and flip back and forth as needed. Deeper than the Sands we actually go down to the minute for the passage of time. Soulless Regency, since travel time takes so long, we actually shelve characters that are going through the "It's going to take 8 hours to get to the next town in a carriage" until the rest of the group gets to that point in the Rp and then bring them back out.  

	The main key is to flip out as you need. Sometimes you may need those down to the minute times, others you won't. So don't hesitate to move from one to the other and back again. Whatever works best for the Rp at that time. Sometimes you have to micromanage things, it sucks but it is true. Some people need a bit of a hand learning to manage the passage of time and that's okay. Other times you don't need to worry about it. It will all depend on your rpers, the Rp itself, and more.