Calendar in the sidebar is your own time — meetings, events and dated work in one place.

Do this first, or the calendar is only half your life. Connect Google Calendar or CalDAV under Profile settings → Connections and your existing meetings appear alongside your Atwork work.
It also matters for scheduling: connecting is what stops people booking you when you are already busy. See Connect Google Calendar.
Click a day, or click and drag across a time range. Set the title, the time and who is involved. If you have a meeting tool connected, a video link can be created with it.
The useful part: a deadline sitting on the same view as your meetings. Three calls and two things due is a different day from three calls and nothing due, and you can see which one you are having.
Everything renders in the timezone set under Profile settings → Working hours. If times look shifted, that setting is the first thing to check — see Dates look wrong.
A Calendar view puts one sheet's records on a calendar — a content schedule, a shoot plan. That is a lens on that sheet. This calendar is yours, across everything. Both are useful; they answer different questions.
Related: Calendar view · Working hours and availability · Connect Google Calendar