The Update time on edit plugin automatically tracks and updates file metadata in Obsidian, ensuring accurate timestamps for file creation and last modification. It maintains synchronization between Obsidian's internal file data and metadata properties, with default keys set to 'created' for creation time and 'updated' for modification time. Users can customize the date format and choose between string or Unix timestamp formats. The plugin can exclude specific folders from updates, which is useful for templates or other files that should remain unchanged. It works on both desktop and mobile versions of Obsidian, and it updates metadata even when files are changed from external sources. This ensures that file timestamps remain accurate across different devices and editing environments.