MIP Fund Accounting vs. QuickBooks Self-Employed

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
MIP Fund Accounting
Score 8.7 out of 10
N/A
MIP Fund Accounting™ is a configurable fund accounting solution. The solution includes functionality for fund accounting, procurement, budgeting, payroll, human resources, timekeeping, fixed asset management, grant management, and dashboards for nonprofits and government agencies.N/A
QuickBooks Self-Employed
Score 9.0 out of 10
N/A
N/AN/A
Pricing
MIP Fund AccountingQuickBooks Self-Employed
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
MIP Fund AccountingQuickBooks Self-Employed
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
YesNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details
More Pricing Information
Community Pulse
MIP Fund AccountingQuickBooks Self-Employed
Top Pros
Top Cons
Features
MIP Fund AccountingQuickBooks Self-Employed
Payroll Management
Comparison of Payroll Management features of Product A and Product B
MIP Fund Accounting
-
Ratings
QuickBooks Self-Employed
7.8
3 Ratings
4% above category average
Pay calculation00 Ratings10.02 Ratings
Benefit plan administration00 Ratings5.02 Ratings
Direct deposit files00 Ratings8.03 Ratings
Salary revision and increment management00 Ratings8.02 Ratings
Reimbursement management00 Ratings8.03 Ratings
Customization
Comparison of Customization features of Product A and Product B
MIP Fund Accounting
-
Ratings
QuickBooks Self-Employed
10.0
5 Ratings
35% above category average
API for custom integration00 Ratings10.04 Ratings
Plug-ins00 Ratings10.04 Ratings
Security
Comparison of Security features of Product A and Product B
MIP Fund Accounting
-
Ratings
QuickBooks Self-Employed
10.0
8 Ratings
24% above category average
Single sign-on capability00 Ratings10.08 Ratings
Role-based user permissions00 Ratings10.05 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
MIP Fund Accounting
-
Ratings
QuickBooks Self-Employed
10.0
14 Ratings
27% above category average
Dashboards00 Ratings10.012 Ratings
Standard reports00 Ratings10.014 Ratings
Custom reports00 Ratings10.08 Ratings
General Ledger and Configurable Accounting
Comparison of General Ledger and Configurable Accounting features of Product A and Product B
MIP Fund Accounting
-
Ratings
QuickBooks Self-Employed
10.0
15 Ratings
30% above category average
Accounts payable00 Ratings10.09 Ratings
Accounts receivable00 Ratings10.010 Ratings
Cash management00 Ratings10.09 Ratings
Bank reconciliation00 Ratings10.010 Ratings
Expense management00 Ratings10.014 Ratings
Time tracking00 Ratings10.07 Ratings
Fixed asset management00 Ratings10.04 Ratings
Multi-currency support00 Ratings10.02 Ratings
Multi-division support00 Ratings10.02 Ratings
Regulations compliance00 Ratings10.03 Ratings
Electronic tax filing00 Ratings10.013 Ratings
Self-service portal00 Ratings10.08 Ratings
Global Financial Support00 Ratings10.02 Ratings
Primary and Secondary Ledgers00 Ratings10.02 Ratings
Intercompany Accounting00 Ratings10.03 Ratings
Localizations00 Ratings10.03 Ratings
Journals and Reconciliations00 Ratings10.06 Ratings
Enterprise Accounting00 Ratings10.02 Ratings
Configurable Accounting00 Ratings10.04 Ratings
Centralized Rules Framework00 Ratings10.03 Ratings
Standardized Processes00 Ratings10.05 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
MIP Fund Accounting
-
Ratings
QuickBooks Self-Employed
10.0
3 Ratings
35% above category average
Inventory tracking00 Ratings10.03 Ratings
Automatic reordering00 Ratings10.03 Ratings
Location management00 Ratings10.03 Ratings
Manufacturing module00 Ratings10.02 Ratings
Order Management
Comparison of Order Management features of Product A and Product B
MIP Fund Accounting
-
Ratings
QuickBooks Self-Employed
10.0
5 Ratings
30% above category average
Pricing00 Ratings10.04 Ratings
Order entry00 Ratings10.04 Ratings
Credit card processing00 Ratings10.05 Ratings
Cost of goods sold00 Ratings10.03 Ratings
Order Orchestration00 Ratings10.02 Ratings
End-to-end order visibility00 Ratings10.03 Ratings
Order exception Resolution00 Ratings10.02 Ratings
Best Alternatives
MIP Fund AccountingQuickBooks Self-Employed
Small Businesses
QuickBooks Online
QuickBooks Online
Score 8.0 out of 10
Dext Prepare (with Receipt Bank)
Dext Prepare (with Receipt Bank)
Score 9.1 out of 10
Medium-sized Companies
Sage Intacct
Sage Intacct
Score 8.7 out of 10
Accounting Seed
Accounting Seed
Score 8.3 out of 10
Enterprises

No answers on this topic

Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP
Score 8.2 out of 10
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User Ratings
MIP Fund AccountingQuickBooks Self-Employed
Likelihood to Recommend
8.8
(429 ratings)
10.0
(15 ratings)
Likelihood to Renew
9.2
(125 ratings)
10.0
(1 ratings)
Usability
8.2
(100 ratings)
9.4
(2 ratings)
Availability
9.8
(15 ratings)
-
(0 ratings)
Performance
8.5
(84 ratings)
-
(0 ratings)
Support Rating
7.8
(99 ratings)
10.0
(2 ratings)
In-Person Training
10.0
(8 ratings)
-
(0 ratings)
Online Training
8.4
(7 ratings)
-
(0 ratings)
Implementation Rating
6.5
(28 ratings)
-
(0 ratings)
Configurability
8.6
(8 ratings)
-
(0 ratings)
Ease of integration
7.8
(13 ratings)
-
(0 ratings)
Product Scalability
8.7
(15 ratings)
-
(0 ratings)
Vendor post-sale
8.3
(13 ratings)
-
(0 ratings)
Vendor pre-sale
8.1
(13 ratings)
-
(0 ratings)
User Testimonials
MIP Fund AccountingQuickBooks Self-Employed
Likelihood to Recommend
Community Brands
MIP Fund Accounting is well suited to any company that has multiple funding sources and expenses that they need to keep a close track on. In non-profit organizations we are looked at closely and it is important to be able to accurately show where our revenue comes from and where it is going. MIP Fund Accounting can handle that easily. It is not a system I would recommend to a small business as there are so many features that they would not need for the cost to them, at least not the versions we use.
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Intuit
QuickBooks is a great tool for new SoleTraders that need basic accounting software and require digital invoicing for their clients to send via email and access key features via a mobile app on the go. QuickBooks is a straightforward tool to use with a simple design and learning curve for business owners that are not very tech-savvy. For businesses that operate on a larger scale and need to provide access to other users on their team, QuickBooks is limited. This type of business may also require more insights into the business outside of accounting, and QuickBooks won't be able to supply insights outside of that.
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Pros
Community Brands
  • General Ledger processing, including journal entries and reports
  • Ability to download all reports directly to Excel and PDF formats
  • Use of Grant codes to enable grant reporting by month/quarter/year
  • Ability to have multiple departments and consolidate into groups for reporting
  • Accounts Payable and Accounts Receivable cannot be out of balance
  • Multiple ways to use the product including Cloud and Classic options, Visual menu or Standard (Top of screen) menus to select processes, many options we are not using in our simple organization
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Intuit
  • QuickBooks Self-Employed does keep a running total of your income and estimated taxes. Of course, this requires that your entries are accurate.
  • The mileage feature is particularly helpful. One just needs to either use the phone app in conjunction with QuickBooks Self-Employed, or keep a log of all mileage.
  • When tax time comes around, it's easy to use TurboTax software and import your data from QuickBooks.
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Cons
Community Brands
  • Could be more streamlined
  • Could have a more basic version (it is a step up in complexity from quickbooks)
  • When trying to go back to a previous page/task (the 'done' or 'back' buttons) sometimes do go back too far, but sometimes they do. More consistency of how those buttons work would help.
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Intuit
  • Doesn't integrate with Mint, which I use for my home expenses. I think this would be a nice addition to the program, so I could keep track of my whole financial situation.
  • A Windows 10 app would be a nice addition to the program, so I could access it securely from my desktop.
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Likelihood to Renew
Community Brands
I would give this software a high ranking for my use of it because I have a lot of experience setting it up properly. What I would like to learn more about this program is it's Drillpoint add on feature as this has a lot of potential to allow managers instant access to their financials and invoices when set up correctly
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Intuit
No answers on this topic
Usability
Community Brands
I have used this system for about 12 years now and I still learning how to use it. It always surprises me how there is another report to learn to achieve my data reporting goals. It is great to have a system that you have used long enough to feel comfortable with but also a system that allows you to learn new ways to report and enter data into the system
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Intuit
I have been using this software for several years now and it has always put out my data in beautiful generated reports that I can use for verification purposes with my financial institute and the IRS. It has all the tools I need to run my business without loosing track of anything
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Reliability and Availability
Community Brands
I have rarely encountered any issues accessing MIP Fund Accounting over the years. On the rare occasions when availability was interrupted, the reasons were always found in-house when using the on-premises version. Since we have migrated to the MIP cloud, we have had no issues with availability. Any maintenance or updates are always communicated to us and are usually done outside of business hours.
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Intuit
No answers on this topic
Performance
Community Brands
We are able to generate reports in any format that we need to show the information that we have in a clear way that is easy for staff and our boards to read. We can easily run the reports agency-wide or break them down by fund or project, showing the details that we need.
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Intuit
No answers on this topic
Support Rating
Community Brands
I have not reached out to MIP for technical support; however, their website offers great help resources so I can solve an issue on my own. Another team member reached out to MIP for support and was helped quickly. The transition process took longer than expected due to a lag in communication.
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Intuit
I have never faced any difficulties that required me to contact QuickBooks customer service. QuickBooks has plenty of online tutorials, blog posts, and helpful tips and advice for almost any issues you may face using the desktop or app version of the software. Even if you can not find the right answer on the QuickBooks webpages, there are loads of YouTube videos from experts.
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In-Person Training
Community Brands
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.
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Intuit
No answers on this topic
Online Training
Community Brands
Denise O'Malley provided training for the HR module when we added it to our system. Denise also gave us a demo of the EWS module which we were able to see that it would not meet our needs. She was very kind about and understanding regarding the functions we needed with a time clock system.
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Intuit
No answers on this topic
Implementation Rating
Community Brands
Don't waste your time with MIP. There are plenty of other softwares out there that will do the job better. Do your homework. Get references from actual users. Make sure that what you choose will truly integrate. Make sure that there is local support. Get training. You will be glad that you passed this one by. Trust me.
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Intuit
No answers on this topic
Alternatives Considered
Community Brands
This is the first time I've worked in the non-profit world. Accounting is somewhat different so I am very glad to be using a product designed specifically for non-profits. Many accounting processes are similar of course, but it is nice to have them tailored to fit the requirements of a non-profit organization.
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Intuit
FreshBooks limited my ability to categorize transactions, specifically removing duplicates or excluding them. I selected QuickBooks Self-Employed because it allowed me to be in control of items. Sometimes accounting is just making sure things are organized the way YOU think, and FreshBooks wasn't doing that for me.
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Scalability
Community Brands
The flexibility to create certain features are helpful and are designed to be easier on MIP Accounting Cloud. It has been easier than the MIP Accounting classic version. I may have not fully utilized the software to deploy across multiple departments other than generating revenue reports or expenses. As well as developing budget worksheets for our departments. Which are great as it is, but have not gone farther than that.
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Intuit
No answers on this topic
Return on Investment
Community Brands
  • We don't use all the add-ons, but for the basic accounting that we need it for it is an excellent product. We have been using it since 2001. There are other products on the market, but this suits our needs completely.
  • It is easy to learn, with a lot of online support.
  • New staff learn to use the system quite easily.
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Intuit
  • Overall, tagging expenses and mileage has saved me thousands in taxes, for a relatively low cost of around $8/mo.
  • QuickBooks allows me to get invoices to clients quickly and accept online payments, which helps with cashflow.
  • The app has stopped tracking mileage automatically on my device, so I worry that sometimes I am not tracking business miles effectively, which could end up costing me at the EOY.
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ScreenShots

MIP Fund Accounting Screenshots

Screenshot of MIP Advance™ Dashboards with drilldownScreenshot of MIP™ Transactions WorkflowScreenshot of MIP DashboardsScreenshot of MIP DashboardsScreenshot of MIP Dashboard drilldownScreenshot of MIP Transactions