A system and method for accounting for delay to accurately schedule a data packet for transmission between communicating devices. According to an aspect of the invention, a data packet to be scheduled is identified and the packet modified time, reflecting an estimation of the transmission time of the packet, and the scheduled transmission time, reflecting the time the packet should be scheduled to be transmitted, are calculated. A time stamp in the packet is adjusted to reflect the packet modified time and the packet is stored until either the packet modified time or the scheduled transmission time, when the packet is then transmitted.