Abila MIP Fund Accounting

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Top Rated
603 Ratings

Abila MIP Fund Accounting

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Top Rated
603 Ratings
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Score 8 out of 101
8 Ratings
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Score 9.6 out of 101

Add comparison

Likelihood to Recommend

Abila MIP Fund Accounting

Because I work in the FQHC world, I would recommend this product specifically for any business or end user within that field. This product allows people in this field to comply with federal reporting requirements, makes it easier to track grants, and allows for the slicing and dicing of financial statements in many ways which is important in this field. This product is good for most day to day accounting functions and is pretty robust as well for an FQHC. This product is probably less appropriate for large healthcare systems where you want to keep track of statistics which this product cannot currently do.
Erich Koch profile photo

Receipt Bank Practice Platform

For organizations that require in depth detail in their financials, meaning detailed records of every expense, Receipt Bank is a great option. Accounting firms that are preparing the books for their clients in a cloud atmosphere will most certainly appreciate the ease of use provided with Receipt Bank. But for organizations that are small in number of employees, and maybe they all have company credit cards and no expense reports, Receipt Bank isn't necessary. It's still a "nice to have" software, but not required because these types of employees won't be keeping copies of receipts anyway.
Alicia Gates, CPA profile photo

Feature Rating Comparison

Payroll Management

Abila MIP Fund Accounting
7.6
Receipt Bank Practice Platform
Pay calculation
Abila MIP Fund Accounting
8.8
Receipt Bank Practice Platform
Benefit plan administration
Abila MIP Fund Accounting
7.0
Receipt Bank Practice Platform
Direct deposit files
Abila MIP Fund Accounting
8.9
Receipt Bank Practice Platform
Salary revision and increment management
Abila MIP Fund Accounting
7.0
Receipt Bank Practice Platform
Reimbursement management
Abila MIP Fund Accounting
6.3
Receipt Bank Practice Platform

Customization

Abila MIP Fund Accounting
7.6
Receipt Bank Practice Platform
API for custom integration
Abila MIP Fund Accounting
7.6
Receipt Bank Practice Platform
Plug-ins
Abila MIP Fund Accounting
7.5
Receipt Bank Practice Platform

Security

Abila MIP Fund Accounting
8.4
Receipt Bank Practice Platform
Single sign-on capability
Abila MIP Fund Accounting
8.4
Receipt Bank Practice Platform
Role-based user permissions
Abila MIP Fund Accounting
8.4
Receipt Bank Practice Platform

Reporting & Analytics

Abila MIP Fund Accounting
7.3
Receipt Bank Practice Platform
Dashboards
Abila MIP Fund Accounting
6.2
Receipt Bank Practice Platform
Standard reports
Abila MIP Fund Accounting
7.8
Receipt Bank Practice Platform
Custom reports
Abila MIP Fund Accounting
7.9
Receipt Bank Practice Platform

General Ledger and Configurable Accounting

Abila MIP Fund Accounting
7.5
Receipt Bank Practice Platform
Accounts payable
Abila MIP Fund Accounting
8.5
Receipt Bank Practice Platform
Accounts receivable
Abila MIP Fund Accounting
8.1
Receipt Bank Practice Platform
Cash management
Abila MIP Fund Accounting
7.9
Receipt Bank Practice Platform
Bank reconciliation
Abila MIP Fund Accounting
8.4
Receipt Bank Practice Platform
Expense management
Abila MIP Fund Accounting
8.0
Receipt Bank Practice Platform
Time tracking
Abila MIP Fund Accounting
6.6
Receipt Bank Practice Platform
Fixed asset management
Abila MIP Fund Accounting
7.5
Receipt Bank Practice Platform
Multi-currency support
Abila MIP Fund Accounting
6.0
Receipt Bank Practice Platform
Multi-division support
Abila MIP Fund Accounting
8.3
Receipt Bank Practice Platform
Regulations compliance
Abila MIP Fund Accounting
8.1
Receipt Bank Practice Platform
Electronic tax filing
Abila MIP Fund Accounting
7.6
Receipt Bank Practice Platform
Self-service portal
Abila MIP Fund Accounting
5.8
Receipt Bank Practice Platform
Standardized Processes
Abila MIP Fund Accounting
7.0
Receipt Bank Practice Platform

Inventory Management

Abila MIP Fund Accounting
4.2
Receipt Bank Practice Platform
Inventory tracking
Abila MIP Fund Accounting
7.3
Receipt Bank Practice Platform
Automatic reordering
Abila MIP Fund Accounting
1.0
Receipt Bank Practice Platform
Location management
Abila MIP Fund Accounting
7.7
Receipt Bank Practice Platform
Manufacturing module
Abila MIP Fund Accounting
1.0
Receipt Bank Practice Platform

Order Management

Abila MIP Fund Accounting
4.6
Receipt Bank Practice Platform
Pricing
Abila MIP Fund Accounting
6.7
Receipt Bank Practice Platform
Order entry
Abila MIP Fund Accounting
6.7
Receipt Bank Practice Platform
Credit card processing
Abila MIP Fund Accounting
2.5
Receipt Bank Practice Platform
Cost of goods sold
Abila MIP Fund Accounting
2.7
Receipt Bank Practice Platform

Accounting Firm BPO Features

Abila MIP Fund Accounting
6.9
Receipt Bank Practice Platform
Client data roll-up capabilities
Abila MIP Fund Accounting
7.7
Receipt Bank Practice Platform
Configurable alerts
Abila MIP Fund Accounting
7.3
Receipt Bank Practice Platform
Billing bypass
Abila MIP Fund Accounting
6.3
Receipt Bank Practice Platform
Client template cloning
Abila MIP Fund Accounting
7.6
Receipt Bank Practice Platform
Single sign-on
Abila MIP Fund Accounting
4.5
Receipt Bank Practice Platform
Industry-specific versioning
Abila MIP Fund Accounting
8.4
Receipt Bank Practice Platform
Legacy system data migration
Abila MIP Fund Accounting
6.8
Receipt Bank Practice Platform

Pros

  • It allows you to create folders in which you can scan invoices, business associate contracts, and contracts in general by vendor. This allows us to keep everything in one place digitally. The good thing about this is that it speeds up finding old invoices, and allows you to send audit selections to the auditor faster due to the items selected already being scanned in digitally.
  • MIP allows for the creation of distribution codes. These are nice as they allow you to charge out common costs to multiple departments in a quick manner. Without this feature, one has to key in manually many line items into the system each and every month. Plus this feature allows for consistency, and elimination of keying errors.
  • If you have the Chart of Accounts set up properly, this system allows you to better track items by departments, Revenue/Fund codes, Location, and by GL. This is important as it allows for better analysis, tracking and reporting.
  • As for the budgeting module, this is also nice as you have the ability to upload your budget via a CSV file or you can manually cut and paste your numbers from excel into the system as well. The key thing though is setting up your budget template to match the format in MIP when cutting and pasting.
Erich Koch profile photo
  • Receipt Bank does a stellar job of extracting information from photos of receipts and bills. I'd say 95% of the time the information pulled is correct, so very rarely do I have to correct an amount or date.
  • One feature I really enjoy is not only the syncing with Quickbooks Online, but the fact that it also pushes the image to Quickbooks Online as an attachment! This means that for every expense/bill processed through Receipt Bank, an image of it is available inside of the transaction inside of Quickbooks Online. This makes researching a breeze.
  • Receipt Bank makes it very simple for users to add documents to the platform. Each company receives a dedicated Receipt Bank email address, which they can email to and upload documents, or users can use the phone apps (which are really easy to use), or they can upload documents from their computer. Training our clients to use it really can't be any easier!
Alicia Gates, CPA 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
  • One area that could really use some improvement is their training program for the people who manage the program (meaning those of us to who actually process the receipts and bills to an outside software). It's a whole separate website, it's somewhat difficult to follow, and it just doesn't flow well. The training for front end users (those submitting the bills/receipts) is not really in depth, either, but it is pretty intuitive. We've taken to writing up a 1 page instruction manual for our clients that qualifies as their "training".
  • A feature I would love to see is the ability to process income items in Receipt Bank. It currently does not have that functionality. I have several clients that submit bank deposit detail, and it would be great if I could "publish" those to Quickbooks Online just like I do for bills/receipts.
  • Expense reporting is a great feature Receipt Bank has, but it's somewhat complicated to understand. We receive lots of questions from clients surrounding this process, so some better training or simplification would be great.
Alicia Gates, CPA profile photo

Likelihood to Renew

Abila MIP Fund Accounting9.0
Based on 37 answers
I am not the decision-maker, but it would be my recommendation at this point.
Christine Frenzel profile photo
No score
No answers yet
No answers on this topic

Usability

Abila MIP Fund Accounting8.7
Based on 34 answers
If you are not an accountant, it would be very difficult to use. As an accountant there are aspects that are so specific that if you do not understand how they work and hand off to other parts of the software, you can really mess up your reporting.
Christine Frenzel profile photo
No score
No answers yet
No answers on this topic

Reliability and Availability

Abila MIP Fund Accounting9.0
Based on 6 answers
It is mostly available when it is needed, however there have been power and internet outages that have limited the availability of programs.
Cindy Chapple profile photo
No score
No answers yet
No answers on this topic

Performance

Abila MIP Fund Accounting9.9
Based on 6 answers
It usually loads very quickly and I am able to get to work right away.
Cindy Chapple profile photo
No score
No answers yet
No answers on this topic

Support

Abila MIP Fund Accounting8.6
Based on 32 answers
I have a hard time using the online help features and can seldom find answers to the questions I have. When I call, I want to be able to get the answer, not be told I can go "online" to find the answer.
Christine Frenzel profile photo
No score
No answers yet
No answers on this topic

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
No score
No answers yet
No answers on this topic

Implementation

Abila MIP Fund Accounting6.9
Based on 19 answers
Again, I was not directly involved with the planning and setup of the software. However, I was involved in training my staff during the implementation phase. As with any software implementation, consistency of training is key and a willingness to seek out help from Customer Support helps tremendously to insure accuracy of information and training.
Jeffrey Chapman profile photo
No score
No answers yet
No answers on this topic

Alternatives Considered

I have used QuickBooks Premier for Non-Profits in a previous job, but not at my current position. They have used MIP for several years prior to me coming on board. QuickBooks was much easier to learn, but I don't feel it has as much functionality as MIP does with the use of multiple federal and state managements and reporting
Tracie Lambright profile photo
I use both Receipt Bank Practise Platform and Hubdoc as they both have provided different features that are effective for my practise. A product that has a dashboard is very effective. Being able to go to one location and see all information on clients is vital to better productivity. I always do a full analysis of new products before implementing them in my practice. This assessment allows me to analyse the impact on internal productivity and also external ease of use and effectiveness for clients. They must deliver on solving an issue for my practice or my clients or both,
Tim Hoopmann 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
No score
No answers yet
No answers on this topic

Return on Investment

  • Hard to quantify the return on investment. Purchasing accounting software is a necessary evil and the payback is hard to measure. Basically MIP is another expense we incur each month in order to keep our books. If MIP could add some better features to its system, there could be a better ROI.
  • I think if you have MIP set up properly you could probably eliminate an FTE from your accounting department. I was able to get by with 2 people when most places would of had 3 or 4 with the same amount of work. The key though is knowing how to use the product, and setting it up correctly.
Erich Koch profile photo
  • Receipt Bank Practice Platform had a positive impact on my practice. It saved time for all team members. It provided invaluable insights allowing for better process management.
  • Receipt Bank Practice Platform assisted in the better management of clients by providing great insights into the bookkeeping processing. It allowed for early identification of issues.
  • It delivered on our paperless offering to clients and a streamlined approach to their bookkeeping.
  • It helped us save our clients time and money.
Tim Hoopmann profile photo

Screenshots

Receipt Bank Practice Platform

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

Receipt Bank Practice Platform

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