Timezone in account preferences

When I see some post or reply that says "1 hour ago" in the Latest widget and then I click and go to that post and it says "Today at 20:58" when it's still bright day when I'm located, it's clear that I need to set up my local timezone (UTC -4 in my case) but I couldn't find it anywhere in the account preferences.

I think this setting is a must in any CMS and RaxBoard shouldn't be the exception.