Welcome to The Financial Edge 7.71. This version of The Financial Edge includes the year end tax changes, which are summarized here. General Ledger, Accounts Payable, Accounts Receivable, Cash Receipts, Fixed Assets, Student Billing, Payroll and all other programs and optional modules are available as part of The Financial Edge only if you have purchased each. 

End of Year Changes

This release includes updated defaults for tax tables in Payroll. We have updated the tables with all the changes available at the time of release. While we do our best to ensure this information is accurate and up-to-date with the latest guidelines, it is your responsibility to verify tax table information and to make any changes required by Federal or State governments at the time they become effective.

If the tax tables have changed, you can add a new tax table and specify the date when that tax table will become effective. You can find tax table information in the Circular E (obtained from the IRS) and state or local publications. Editing the tax tables will not affect historic calculations.

For more information about end of year procedures, see the Financial Edge End of Year Guide.

W-2 and W-3 Reporting

For 2007, there are minor changes to the W-2 form. The Control number field and Employee's Social Security Number field positions have been exchanged to improve Social Security Number security. The Control number is now entered in field "d". The Social Security Number is now entered in field "a".

There are also minor changes to the W-3 form. The Control number field and the five-digit form identification code have exchanged positions.

Tax Form Performance Improvements

We have improved the processing speed of tax forms, such as the 941 and W-2. Tax forms are located in the Mail module and include federal and state tax reports. For more information about processing tax forms, see the Financial Edge Mail Guide and the Financial Edge End of Year Guide.

Check 21

In accordance with Check Clearing for the 21st Century Act, or "Check 21" for short, we have made our checks readable for the electronic scanners used at banks. Check 21 is a federal law designed to enable banks to handle more checks electronically, so that check processing is faster and more efficient.

ADP Integration

Using the ADP Import Utility, you can import your ADP payroll transactions into General Ledger's Journal Entry. You can access the ADP Import Utility from the Financial Edge Plug-ins page. This utility is available only if you do not have Blackbaud's Payroll program. For more information, see the Administration chapter of the Financial Edge Administration Guide or contact your ADP account manager.

Help Links

You can now use new help links in multiple areas of The Financial Edge 7.71 to easily access pertinent content directly in the help file. These help links provide answers to several commonly asked questions. To access the help file from any screen, you can also press F1 on your keyboard.

  • In Mail, you can use new help links to access 1099 adjustment and other tax adjustment information.

  • In Banks, you can use new help links to access important information about voiding, purging, and correcting checks.

  • In General Ledger Reports, you can use new help links to access report troubleshooting recommendations when creating Financial Statements and GASB reports.