Thanks for your speedy reply. I tried that already and the timecode did change to 01:00:00:00 but after rendering it, when I play the clip, shouldnt the time start at 1:00 ? right now it starts at 0:00.
They need a pro res 422 HQ, so I first need to render this file to some sort of a lossless file (not sure which), then change it somewhere else to pro res because to the best of my knowledge premiere pro does not have this option directly.
Thanks again for your input