Another way to do this is described below.
First, turn on iterative calculations on under File - Options - Formulas - Enable Iterative Calculation
. Then set maximum iterations to 1000.
The 1000 iterations doesn't matter for this formula, but it stops excel getting stuck in an infinite loop for other circular references.
After doing this, use the following formula.
=If(D55="","",IF(C55="",NOW(),C55))
Once anything is typed into cell D55
(for this example) then C55
populates today's date and/or time depending on the cell format. This date/time will not change again even if new data is entered into cell C55 so it shows the date/time that the data was entered originally.
This is a circular reference formula so you will get a warning about it every time you open the workbook. Regardless, the formula works and is easy to use anywhere you would like in the worksheet.