Yes, an update is required to ensure compliance with 1099 forms, 1096 forms, and magnetic media file changes. The end of year update is available for download.

For information about the end-of-year process, refer to The Financial Edge End-of-Year FAQs.

There will not be an end-of-year update for 1099s in Accounts Payable 6. If your organization did not convert to The Financial Edge before December 31, 2007, you must use the 1099 Activity Report to manually create 1099 forms. To file 1099s electronically, manually create the magnetic media file to ensure compatibility with new IRS regulations. According to IRS guidelines, you must file 1099s electronically or magnetically if you have more than 250 returns.

Note: Support for Accounting for Nonprofits 6 ended December 31, 2007. Support for Student Billing 6 and Payroll 6 with The Financial Edge ended September 30, 2008. The Financial Edge, version 7 of our accounting software, is a benefit of your Blackbaud maintenance plan. We offer several customizable options to help you convert to The Financial Edge. Please contact your account manager.