SymptomsParallels Desktop update 9344 cannot access shared folders, which may cause issues with Microsoft Outlook, Quicken, Lotus Notes, etc.
Parallels Tools shipped with build 9344 cannot access shared folders correctly.
FixThe issue has been fixed in Parallels Desktop 5 for Mac Build 9370.
Please use the instructions in the above article for obtaining and installing the new build.
WorkaroundIf for some reason you do not wish to upgrade, you can use the workaround below. However, please note that it is recommended rather to upgrade than to use this workaround.
On the Mac side download another version of Parallels Tools with hotfix included:
Start your virtual machine, cancel Parallels Tools wizard (if it starts automatically), choose Devices in the Mac's menu bar, select CD/DVD 1, then select Connect image and specify the path to Parallels Tools ISO image.
The installation should start. If there are no changes on the screen, go to Start > My Computer and double-click CD-ROM. Follow the installation prompts and restart Windows when it is completed.
If the Parallels Tools installation was successful, you may remove the downloaded ISO image after the Windows restart.
Note: The Parallels Tools image above can be installed together with non-English versions of Parallels Desktop as well. E.g. German, Spanish, French, etc. However, the installation process itself will be in English language.