I prefer to rely on NTP rather than VMware Tools to manage the timekeeping in my Ubuntu virtual machines.
I setup NTP with a script and copy a ready-made ntp.conf from a web-server to speed up the process, which (unscripted) is as follows:
Using the terminal, first install ntp:
sudo apt-get update sudo apt-get install ntp
I prefer to use nano to edit files in Ubuntu so you can install nano if you desire:
sudo apt-get install nano
Next make a backup of your existing ntp.conf:
sudo cp /etc/ntp.conf /etc/ntp.bak
Open ntp.conf as follows:
sudo nano /etc/ntp.conf
The contents of my ntp.conf are below:
# /etc/ntp.conf, configuration for ntpd; see ntp.conf(5) for help tinker panic 0 restrict 127.0.0.1 restrict default kod nomodify notrap server 0.vmware.pool.ntp.org server 1.vmware.pool.ntp.org server 2.vmware.pool.ntp.org server 3.vmware.pool.ntp.org
All in all a pretty straightforward process, especially when scripted!