It's easy to convert a timestamp to a string in LabVIEW, however, there isn't a native function the other way around! Here's a very simple example that shows how you can convert a string back to a timestamp:
LabVIEW 2011 or later
LabVIEW 8.6 or later (compatibility mode)
I've tried and it worked. But how do I syncronize with the time in the computer?