Hello Rasmus,
Once you have set up your cells, select the one you want to show your timeline and select the wizard icon next to the "Cell type" selection. This will open the configuration menu for your time cell.
Select cell type as time cell and on the next window you can select "Create and Display NEW Cell content (time-related)". Name it as you wish.
In the next window you may synchronise it with the time master cell set as your time-location chart cell.
Confirm the configuration and select the cell again, then navigate to "Define Time Scales" in the properties view (typically at the bottom of the screen).
You can delete or edit existing time scales or add new ones with the blue plus sign in this menu. You can also reorder them with the arrows.
In the label options, press F8 to open the menu of options you can use to call on existing types/formats/names. I have added pictures to set up time scales for years/quarters/months below.
You can also create and call upon bespoke time profiles in Project Data > Time Axis Definitions > Time Profiles.
Hope this helps!
Regards,
Tierney