What users are saying about

Abila MIP Fund Accounting

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Top Rated
603 Ratings

Accounting by Wave

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Top Rated
102 Ratings

Abila MIP Fund Accounting

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Top Rated
603 Ratings
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Score 7.9 out of 101

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101

Add comparison

Likelihood to Recommend

Abila MIP Fund Accounting

With Abila MIP's versatility I think it would be well suited for any industry, but especially for any industry where you wanted to be very specific on tracking or cost accounting. The ability to segment your accounts allows you to track by just about any method you would like to be successful.
Eric Harvey profile photo

Accounting by Wave

Wave is free to use, and they have some premium features you can pay for. For someone just starting out as a small business, freelancer or independent contractor, this is a Godsend. You can look professional, have something easy to manage, and yet also have excellent records come the end of the year. You won't spend a bunch of time having to learn the program, it's very intuitive and you get a host of great features that will make getting paid easy.
J.P. VanderLinden profile photo

Feature Rating Comparison

Payroll Management

Abila MIP Fund Accounting
7.6
Accounting by Wave
7.9
Pay calculation
Abila MIP Fund Accounting
8.8
Accounting by Wave
8.3
Benefit plan administration
Abila MIP Fund Accounting
7.0
Accounting by Wave
7.5
Direct deposit files
Abila MIP Fund Accounting
8.7
Accounting by Wave
8.0
Salary revision and increment management
Abila MIP Fund Accounting
7.0
Accounting by Wave
7.7
Reimbursement management
Abila MIP Fund Accounting
6.4
Accounting by Wave
8.0

Customization

Abila MIP Fund Accounting
7.6
Accounting by Wave
9.0
API for custom integration
Abila MIP Fund Accounting
7.6
Accounting by Wave
8.9
Plug-ins
Abila MIP Fund Accounting
7.6
Accounting by Wave
9.1

Security

Abila MIP Fund Accounting
8.4
Accounting by Wave
8.6
Single sign-on capability
Abila MIP Fund Accounting
8.3
Accounting by Wave
9.1
Role-based user permissions
Abila MIP Fund Accounting
8.4
Accounting by Wave
8.1

Reporting & Analytics

Abila MIP Fund Accounting
7.3
Accounting by Wave
8.4
Dashboards
Abila MIP Fund Accounting
6.3
Accounting by Wave
8.4
Standard reports
Abila MIP Fund Accounting
7.7
Accounting by Wave
8.3
Custom reports
Abila MIP Fund Accounting
7.9
Accounting by Wave
8.6

General Ledger and Configurable Accounting

Abila MIP Fund Accounting
7.6
Accounting by Wave
8.2
Accounts payable
Abila MIP Fund Accounting
8.4
Accounting by Wave
8.6
Accounts receivable
Abila MIP Fund Accounting
8.1
Accounting by Wave
9.2
Cash management
Abila MIP Fund Accounting
7.9
Accounting by Wave
8.0
Bank reconciliation
Abila MIP Fund Accounting
8.4
Accounting by Wave
7.8
Expense management
Abila MIP Fund Accounting
8.0
Accounting by Wave
8.5
Time tracking
Abila MIP Fund Accounting
6.8
Accounting by Wave
7.3
Fixed asset management
Abila MIP Fund Accounting
7.6
Accounting by Wave
6.3
Multi-currency support
Abila MIP Fund Accounting
6.6
Accounting by Wave
8.5
Multi-division support
Abila MIP Fund Accounting
8.2
Accounting by Wave
7.5
Regulations compliance
Abila MIP Fund Accounting
8.1
Accounting by Wave
7.3
Electronic tax filing
Abila MIP Fund Accounting
7.6
Accounting by Wave
6.0
Self-service portal
Abila MIP Fund Accounting
6.0
Accounting by Wave
9.0
Standardized Processes
Abila MIP Fund Accounting
6.9
Accounting by Wave
8.0
Global Financial Support
Abila MIP Fund Accounting
Accounting by Wave
9.0
Primary and Secondary Ledgers
Abila MIP Fund Accounting
Accounting by Wave
9.3
Intercompany Accounting
Abila MIP Fund Accounting
Accounting by Wave
8.7
Localizations
Abila MIP Fund Accounting
Accounting by Wave
9.5
Journals and Reconciliations
Abila MIP Fund Accounting
Accounting by Wave
8.1
Enterprise Accounting
Abila MIP Fund Accounting
Accounting by Wave
8.7
Configurable Accounting
Abila MIP Fund Accounting
Accounting by Wave
8.5
Centralized Rules Framework
Abila MIP Fund Accounting
Accounting by Wave
9.0

Inventory Management

Abila MIP Fund Accounting
4.2
Accounting by Wave
8.9
Inventory tracking
Abila MIP Fund Accounting
7.3
Accounting by Wave
9.5
Automatic reordering
Abila MIP Fund Accounting
1.0
Accounting by Wave
8.0
Location management
Abila MIP Fund Accounting
7.7
Accounting by Wave
9.0
Manufacturing module
Abila MIP Fund Accounting
1.0
Accounting by Wave
9.0

Order Management

Abila MIP Fund Accounting
4.7
Accounting by Wave
7.9
Pricing
Abila MIP Fund Accounting
6.5
Accounting by Wave
8.3
Order entry
Abila MIP Fund Accounting
6.9
Accounting by Wave
8.3
Credit card processing
Abila MIP Fund Accounting
2.5
Accounting by Wave
9.1
Cost of goods sold
Abila MIP Fund Accounting
2.7
Accounting by Wave
8.8
Order Orchestration
Abila MIP Fund Accounting
Accounting by Wave
8.0
End-to-end order visibility
Abila MIP Fund Accounting
Accounting by Wave
4.8
Order exception Resolution
Abila MIP Fund Accounting
Accounting by Wave
8.0

Accounting Firm BPO Features

Abila MIP Fund Accounting
7.0
Accounting by Wave
8.0
Client data roll-up capabilities
Abila MIP Fund Accounting
7.8
Accounting by Wave
8.0
Configurable alerts
Abila MIP Fund Accounting
7.4
Accounting by Wave
8.0
Billing bypass
Abila MIP Fund Accounting
6.8
Accounting by Wave
8.0
Client template cloning
Abila MIP Fund Accounting
7.5
Accounting by Wave
8.0
Single sign-on
Abila MIP Fund Accounting
4.5
Accounting by Wave
9.0
Industry-specific versioning
Abila MIP Fund Accounting
8.0
Accounting by Wave
8.0
Legacy system data migration
Abila MIP Fund Accounting
7.1
Accounting by Wave
8.0
Branded client dashboards
Abila MIP Fund Accounting
Accounting by Wave
8.0
Client data consolidation for benchmarking
Abila MIP Fund Accounting
Accounting by Wave
7.5
Configurable client onboarding questions
Abila MIP Fund Accounting
Accounting by Wave
8.0
Cross-client workflow management
Abila MIP Fund Accounting
Accounting by Wave
8.0

Pros

  • The vast array of account segmenting allows us to break down our business in many different ways, which gets us the information we need to make sure we are doing business right.
  • We love the ability to process vendor EFT payments, which fits our green thinking and saves lots of paper.
  • Having a cloud based platform allows us to work more efficiently and not have to worry about using the most recent version or keeping up with payroll updates.
Eric Harvey profile photo
  • tracks and categorizes financial transactions with a direct link to bank accounts and credit cards - helpful since there is no manual input outside of verifying that a category is correct
  • easily creates invoices without the need to input customer information more than once. you can also send directly from the platform and toggle the option to accept credit card and ACH payments
  • creates financial reports with ease
Kristy Nittskoff profile photo

Cons

  • They need to better explain how to create definition files so end users can learn how to upload large amounts of data into the system. As of right now, most end users have to contact a consultant to create the definition file and pay literally thousands of dollars in order to do uploads.
  • The financial statement reports could be better. When I created the income statement, the profit is shown as a credit, while a loss is shown as a debit which makes it look funny for presentation purposes. I now have to key everything into Excel so it doesn't do this. The reports could be better if it allowed a way to add statistics to the report. Most FQHCs present stats like visits, Days Cash on Hand and so on. It would be nice to be able to have these stats shown in the financial statements.
  • MIP needs to allow for easier copying and pasting items into the fields. In the Budget module, you can't right click and paste. You need to select the "Edit" and then paste from the drop down menu.
Erich Koch profile photo
  • Transaction coding could be smoother and offer better search options.
  • Flagging payments before transactions have been uploaded means you have to delete the old notice in order to connect the transaction to an invoice and the billing (expenses) system is always a few steps behind invoices (sales)
  • 1099 tracking and submission would be much appreciated!
Geri Lynn Peak profile photo

Likelihood to Renew

Abila MIP Fund Accounting9.0
Based on 38 answers
I am not the decision-maker, but it would be my recommendation at this point.
Christine Frenzel profile photo
Accounting by Wave7.8
Based on 3 answers
Easy to use for clients with no accounting background and the price is right.
Jeanne Harris profile photo

Usability

Abila MIP Fund Accounting8.7
Based on 34 answers
It is great and easy to use once you have had some training, some are more complex than others, but overall it is a great product.
Tracie Lambright profile photo
Accounting by Wave5.3
Based on 4 answers
I am a professional bookkeeper and I have no problems using Wave and all of it's features. I can see that certain individuals who have no accounting knowledge might struggle with a few different features and entries, but that is why Wave has an emphasis in connecting users to Wave Pro's who will walk them through things
Melissa Whaley profile photo

Reliability and Availability

Abila MIP Fund Accounting9.0
Based on 6 answers
I refer back to the previous questions. It has suddenly quit on me.
Christine Frenzel profile photo
Accounting by Wave6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen profile photo

Performance

Abila MIP Fund Accounting9.9
Based on 6 answers
We have had problems with MIP's ability to integrate with other software or systems. Just makes for a longer shopping time when searching for products we need to integrate with MIP
Frances LeClair profile photo
Accounting by Wave2.9
Based on 2 answers
Wave does tend to slow down when filtering your transactions screen especially by date. This is more of an issue when trying to trouble shoot certain transactions or clean-up a set of books.
Melissa Whaley profile photo

Support

Abila MIP Fund Accounting8.6
Based on 32 answers
I have been using this software for six years and love it
Danielle Apthorp profile photo
Accounting by Wave9.0
Based on 1 answer
If they had live chat service then I'd rate this a 10.
Matthew Gehrman profile photo

In-Person Training

Abila MIP Fund Accounting8.0
Based on 6 answers
There are no specifics on what happens if you make one choice or another to know which is the best selection. This is true for JVs and AP. In training we were not given specifics of what happens when one possibility is selected over another.
Christine Frenzel profile photo
No score
No answers yet
No answers on this topic

Online Training

Abila MIP Fund Accounting10.0
Based on 3 answers
Personalized training provided for our organization
karen hoffman profile photo
Accounting by Wave4.7
Based on 3 answers
easy to use and east to train on ! Our WAVE clients enjoy the ease of use
Peter Cullen profile photo

Implementation

Abila MIP Fund Accounting6.8
Based on 19 answers
MUST have a good partner to guide you through the set up steps. A seasoned organization is imperative. They can help navigate issues because they have dealt with them before.
Jan Crockett profile photo
No score
No answers yet
No answers on this topic

Alternatives Considered

As mentioned earlier, we came from Community Pearl accounting/grant-making/fundraising. It did not allow for the multiple fund tracking like MIP does. We couldn't be happier.
Pat Chase profile photo
Wave was more affordable and we were already using it for accounting. The services offered are comparable and quite reliable.
Geri Lynn Peak profile photo

Rating for Public Practice CPAs

No score
No answers yet
No answers on this topic
Accounting by Wave8.0
Based on 8 answers
It's easy and quick to setup. It's user friendly and doesn't use too much jargon so my clients understand it and use it properly. It allows me to switch between different clients quickly so I can respond to any queries by looking at the same data.
Paul Colman FCA profile photo

Scalability

Abila MIP Fund Accounting9.0
Based on 6 answers
Not real sure what you mean by scalability. It seems to be able to handle all of the funds we are currently working with. If you mean the looks of it, some things are small and it would be nice to increase the size according to the user.
Frances LeClair profile photo
Accounting by Wave3.0
Based on 2 answers
Once they out grow what is ability to move up to a more robust system?
Penny Breslin profile photo

Return on Investment

  • Abila has streamlined and allowed more tasks to be automated maximizing the efficiency of staff so more staff is not needed.
  • The Maintenance and Support annual fee is a bit expensive and not a very good return especially for the amount of features that are updated from year to year. I don't use support a lot since our systems are pretty efficient so hence I don't think the annual M&S is justifiable.
  • Abila's importing feature allows integration to many different systems which makes Abila very flexible allowing costs to be saved if the owner of the Abila system switches between vendors.
Donavan Lam, CPA profile photo
  • Increased staff efficiencies
  • Increased customer service
Randy O'Malley profile photo

Screenshots

Pricing Details

Abila MIP Fund Accounting

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No
Additional Pricing Details

Accounting by Wave

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No
Additional Pricing Details