IF NOT EXISTS(SELECT * FROM Clock
WHERE clockDate = '08/10/2012') AND userName = 'test')
Has an extra parenthesis. I think it's fine if you remove it:
IF NOT EXISTS(SELECT * FROM Clock WHERE
clockDate = '08/10/2012' AND userName = 'test')
Also, GETDATE() will put the current date in the column, though if you don't want the time you'll have to play a little. I think CONVERT(varchar(8), GETDATE(), 112) would give you just the date (not time) portion.
IF NOT EXISTS(SELECT * FROM Clock WHERE
clockDate = CONVERT(varchar(8), GETDATE(), 112)
AND userName = 'test')
should probably do it.
PS: use a merge statement :)