There is provided an information processing apparatus which is capable of accurately setting the present time by acquiring time information without using a dedicated time acquisition program and at low costs. The information processing apparatus manages counter information indicating output states of image forming apparatuses connected thereto via a network. The information processing apparatus transmits an e-mail addressed to itself and receives the same e-mail, and then sets the present time based on the time of the transmission of the e-mail, and the time of reception of the e-mail by a server connected to the network.