This problem can occur if User Account Control (UAC) is enabled and the following conditions are met:
  • User launches the program by right-clicking on The Raiser's Edge or The Financial Edge icon and selecting Run as Administrator or the shortcut is set to automatically Run as Administrator  
  • Mapped drives were not created from an elevated command prompt
OR
  • User does not launch the program by using Run as Administrator
  • Mapped drives were created from an elevated command prompt
In order for The Raiser's Edge or The Financial Edge to access mapped drives, they have to be created at the same UAC elevation level that the program is running under. 
Please review the following Microsoft documentation for additional information and a possible workaround:

Programs may be unable to access some network locations after you turn on User Account Control in Windows Vista or in Windows 7
http://support.microsoft.com/default.aspx?scid=kb;EN-US;937624


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