Schedule events allow you to add events in the future which hours do not impact the timesheets and reports until they are effecctively logged. This is useful for recurring events like meetings.
How to add scheduled events.
Go to Hours and add your event. Before saving it click on the tab next to "Save" and choose "Schedule"
Your event will be visible in your calendar as "Scheduled"
When the event takes place just click on it and "Save" it to effectively log those hours and automatically add them to your timesheets and reports. You can also edit the event by clicking in "Update"
If you want to repeat this event every day, week, month or year make sure to choose the repetition frequency before scheduling it.