A folding device is provided for folding a sheet comprises a jaw cylinder, a folding cylinder, a paper guide, and an actuator. The jaw cylinder has a jaw, and the folding cylinder has a hold down element and a folding blade. The folding blade is movable between an extended position and a retracted position. The folding blade is in the extended positron to transfer one or more sheets to the jaw cylinder during a fold off operation, and the folding blade is in the retracted position during a collect operation. The paper guide is positioned between the folding cylinder and the jaw cylinder. The paper guide includes a static guide element and a reciprocating guide element connected to the static guide element, the reciprocating guide element movable between a retracted position and an extended position. The actuator is connected to the reciprocating guide element; the actuator configured and arranged to place the reciprocating guide element into the extended position during the collect operation and into the retracted position during the fold-off operation.