Do it step by step: first look how the
timer works.
Forget about writing to excel, that is another task that is not depending on timer's task for now.
So you would now initialize your timer, start it by click-on the check box and stop it by click-off the check box and write the current time on the label.
First after you are ready with this task, take a look how to communicate with excel:
How to create Excel file in VB.Net