End-Of-Year Update

Towards the end of December / early January each year, Blackbaud releases an end-of-year update as a patch that ensures compliance with various forms, such as the 1099 form and W-2. You must install the end-of-year update before processing your W-2s and 1099s. In order to install the end of year patch, you must be using the latest version of the Financial Edge (7.87). If you are unsure of your version, you may locate it within the Application by selecting Help from the top toolbar and clicking About the Financial Edge.

Do you want to stay up-to-date with the latest releases? I recommend having several users at your organization subscribe to Financial software release announcements on Blackbaud.com to stay in-the-know. When logged into your Blackbaud.com profile, click Update Subscriptions under My Profile. You will see several subscription options depending on your organization’s products.

The update will be published to the Downloads page of Blackbaud.com once finalized. At this time, the estimated release window is from late December to mid-January. We will have a more accurate window for the release once the tax information is finalized by the government and our team has received all required information. Once received, our programmers will promptly create an update. If you are a Payroll user, you must run your last payroll of 2014 BEFORE loading the update. Until that time, one way to get ahead is verifying you are running the latest version.

Once the end of year update has been installed, the Financial Edge will be able to recognize the latest tax rates. After installing the patch, you will need to add your tax tables in order for the new years’ payroll runs to use the updated rates. For more information on year end processing, be sure to check out our latest and upcoming blogs!