I've just downloaded this...what a great piece of software...definitely going to buy it.
Anyway, I entered my card from yesterday and at the end it asked me if I wanted to update my handicap, from 16.1 to 15.8, so I just clicked yes. (Whether that will happen in reality is something I'll wait to hear about.)
So the answer is it appears to do it itself when you enter a card.
Be careful when your updating, suspect many rounds you are recording will not be 'handicap qualifying', and then it will be best to click 'don't adjust'.
In fact I always click 'don't adjust',until my handicap is changed on club handicap sheet. Then I change.
Also be careful about CSS. You have to record the CSS for each course but sometimes this can vary so I always wait for the club to publish the results and the CSS of the day so I can amend this when I enter my card to make sure the adjustment and buffer zone are correctly reflected.
Homer and HH have answered your query (thanks guys); if you have any other queries or are looking for a special GM Forum Credit Crunch discount, please PM me. I did most of the programming for Scoresaver 2 and therefore have a rough idea about how some bits of it work (There are some bits where I look at the 1000's of lines of code and just go "huh?!" )