User options under Tools in The Raiser's Edge offers name formatting of First Name Last Name or Last Name, First Name for records in the system. However, the selection of Last Name, First Name for Participant records applies only to names in the Guests Of column on the Participant tab of an Event record. It does not apply to the Name column.
This is resolved in 7.96 patch 13, released in September - October 2018 and applied to databases in Blackbaud Hosting Services. If your database is installed locally, download and install the latest version and patch, if applicable.
Steps to Duplicate
Open an Event record in The Raiser's Edge.
Click on the Participant tab.
If the Guest Of column is not present, right-click on the list and select Columns. Move Guest of from the left to the right list. Click OK.
Click on Tools > User Options > Records tab > Participants in the left list.
In the lower right, select Last Name, First Name for the Participant Name Format.
Click Apply. Click OK.
The Guest of column will reflect the Last Name, First Name formatting. However the Name column will remain First Name Last Name. This applies if All, Registrants, Guests, or Sponsors is selected on the left.