Hi John,
There does not have to be a version associated with an issue in order for it to show up.
I would check to make sure time tracking has not been disabled and I would verify whether you're using the built in time tracking or something such as Tempo Timesheets.
It's unclear whether or not this is happening with specific issue, etc so please also post a screenshot of the Configuration page for the Time tracking report.
Cheers,
Branden
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