It depends on your settings, if you only map a date/time field (any Date/Time field not only LastModifiedTime) to a Table column without further conversion setting, GeniusConnect will store the value from Outlook “as is”, without any conversions. So it will be in Outlook Local timezone. If you mark the data/time column as UTC (Database values stored as UTC checkbox in Conversion dialog), GeniusConnect will store it in UTC format.
