Why is my configuration for XML data finding the timestamp, but not converting it to the proper format?

[rroca]

I have an xml log file with a weird timestamp. I have used a combination of

TIME_FORMAT= %Y%m%d-%H:%M:%S 
TIME_PREFIX=<log_time>
KV_MODE=xml

Below is the event. How can I get splunk to understand this time ?

Thanks in advance

10/24/01 8:08:31.000 PM 
       <entry>
            <log_time>20141110-00:00:01</log_time>
            <Data...........>
         </entry>

[Raghav2384]

Please check this answer http://answers.splunk.com/answers/45600/convert-time-format.html