What users are saying about
49 Ratings
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Top Rated
773 Ratings
49 Ratings
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Score 8.1 out of 100

MIP Fund Accounting

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Top Rated
773 Ratings
<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow noopener'>trScore algorithm: Learn more.</a>
Score 8.4 out of 100

Feature Set Ratings

    Payroll Management

    8.6

    FreeAgent

    86%

    MIP Fund Accounting

    Feature Set Not Supported
    N/A
    FreeAgent ranks higher in 5/5 features

    Pay calculation

    8.0
    80%
    12 Ratings
    N/A
    0 Ratings

    Benefit plan administration

    8.5
    85%
    6 Ratings
    N/A
    0 Ratings

    Direct deposit files

    8.9
    89%
    2 Ratings
    N/A
    0 Ratings

    Salary revision and increment management

    8.8
    88%
    6 Ratings
    N/A
    0 Ratings

    Reimbursement management

    8.7
    87%
    8 Ratings
    N/A
    0 Ratings

    Customization

    5.5

    FreeAgent

    55%

    MIP Fund Accounting

    Feature Set Not Supported
    N/A
    FreeAgent ranks higher in 2/2 features

    API for custom integration

    4.5
    45%
    9 Ratings
    N/A
    0 Ratings

    Plug-ins

    6.4
    64%
    10 Ratings
    N/A
    0 Ratings

    Security

    8.5

    FreeAgent

    85%

    MIP Fund Accounting

    Feature Set Not Supported
    N/A
    FreeAgent ranks higher in 2/2 features

    Single sign-on capability

    9.0
    90%
    13 Ratings
    N/A
    0 Ratings

    Role-based user permissions

    8.0
    80%
    13 Ratings
    N/A
    0 Ratings

    Reporting & Analytics

    7.8

    FreeAgent

    78%

    MIP Fund Accounting

    Feature Set Not Supported
    N/A
    FreeAgent ranks higher in 3/3 features

    Dashboards

    10.0
    100%
    18 Ratings
    N/A
    0 Ratings

    Standard reports

    9.0
    90%
    18 Ratings
    N/A
    0 Ratings

    Custom reports

    4.4
    44%
    10 Ratings
    N/A
    0 Ratings

    General Ledger and Configurable Accounting

    9.3

    FreeAgent

    93%

    MIP Fund Accounting

    Feature Set Not Supported
    N/A
    FreeAgent ranks higher in 13/13 features

    Accounts payable

    10.0
    100%
    17 Ratings
    N/A
    0 Ratings

    Accounts receivable

    10.0
    100%
    19 Ratings
    N/A
    0 Ratings

    Cash management

    10.0
    100%
    17 Ratings
    N/A
    0 Ratings

    Bank reconciliation

    10.0
    100%
    18 Ratings
    N/A
    0 Ratings

    Expense management

    10.0
    100%
    21 Ratings
    N/A
    0 Ratings

    Time tracking

    10.0
    100%
    16 Ratings
    N/A
    0 Ratings

    Fixed asset management

    8.6
    86%
    11 Ratings
    N/A
    0 Ratings

    Multi-currency support

    9.1
    91%
    7 Ratings
    N/A
    0 Ratings

    Multi-division support

    9.0
    90%
    5 Ratings
    N/A
    0 Ratings

    Regulations compliance

    8.7
    87%
    8 Ratings
    N/A
    0 Ratings

    Electronic tax filing

    9.0
    90%
    18 Ratings
    N/A
    0 Ratings

    Self-service portal

    9.0
    90%
    11 Ratings
    N/A
    0 Ratings

    Journals and Reconciliations

    8.0
    80%
    1 Rating
    N/A
    0 Ratings

    Inventory Management

    7.4

    FreeAgent

    74%

    MIP Fund Accounting

    Feature Set Not Supported
    N/A
    FreeAgent ranks higher in 4/4 features

    Inventory tracking

    7.7
    77%
    2 Ratings
    N/A
    0 Ratings

    Automatic reordering

    8.2
    82%
    1 Rating
    N/A
    0 Ratings

    Location management

    4.5
    45%
    1 Rating
    N/A
    0 Ratings

    Manufacturing module

    9.1
    91%
    1 Rating
    N/A
    0 Ratings

    Order Management

    8.1

    FreeAgent

    81%

    MIP Fund Accounting

    Feature Set Not Supported
    N/A
    FreeAgent ranks higher in 4/4 features

    Pricing

    8.1
    81%
    9 Ratings
    N/A
    0 Ratings

    Order entry

    6.8
    68%
    2 Ratings
    N/A
    0 Ratings

    Credit card processing

    8.2
    82%
    5 Ratings
    N/A
    0 Ratings

    Cost of goods sold

    9.1
    91%
    3 Ratings
    N/A
    0 Ratings

    Attribute Ratings

    • FreeAgent is rated higher in 3 areas: Likelihood to Recommend, Usability, Performance
    • MIP Fund Accounting is rated higher in 2 areas: Availability, Product Scalability

    Likelihood to Recommend

    10.0

    FreeAgent

    100%
    22 Ratings
    8.4

    MIP Fund Accounting

    84%
    403 Ratings

    Likelihood to Renew

    FreeAgent

    N/A
    0 Ratings
    8.9

    MIP Fund Accounting

    89%
    91 Ratings

    Usability

    9.1

    FreeAgent

    91%
    4 Ratings
    8.2

    MIP Fund Accounting

    82%
    93 Ratings

    Availability

    8.9

    FreeAgent

    89%
    10 Ratings
    9.0

    MIP Fund Accounting

    90%
    13 Ratings

    Performance

    9.1

    FreeAgent

    91%
    2 Ratings
    8.2

    MIP Fund Accounting

    82%
    54 Ratings

    Support Rating

    FreeAgent

    N/A
    0 Ratings
    8.3

    MIP Fund Accounting

    83%
    125 Ratings

    In-Person Training

    FreeAgent

    N/A
    0 Ratings
    10.0

    MIP Fund Accounting

    100%
    7 Ratings

    Online Training

    FreeAgent

    N/A
    0 Ratings
    9.7

    MIP Fund Accounting

    97%
    5 Ratings

    Implementation Rating

    FreeAgent

    N/A
    0 Ratings
    9.7

    MIP Fund Accounting

    97%
    44 Ratings

    Configurability

    FreeAgent

    N/A
    0 Ratings
    9.9

    MIP Fund Accounting

    99%
    5 Ratings

    Ease of integration

    FreeAgent

    N/A
    0 Ratings
    9.4

    MIP Fund Accounting

    94%
    6 Ratings

    Product Scalability

    8.2

    FreeAgent

    82%
    1 Rating
    10.0

    MIP Fund Accounting

    100%
    8 Ratings

    Vendor post-sale

    FreeAgent

    N/A
    0 Ratings
    7.0

    MIP Fund Accounting

    70%
    8 Ratings

    Vendor pre-sale

    FreeAgent

    N/A
    0 Ratings
    6.9

    MIP Fund Accounting

    69%
    8 Ratings

    Likelihood to Recommend

    FreeAgent

    FreeAgent is really suited to the financial management of a small business. Especially an owner managed business as it provides all the tools to keep on top of finances. It can reduce the need for a bookkeeper as it is easy to add expenses and reconcile them with the linked bank accounts. The integrated payroll would also reduce the need for third-party management of such processes. Would still recommend the use of an accountant to advise on more complex financial requirements.
    Read full review

    Community Brands

    If you want to use grant reporting and departmental reporting, this product works very well. It works well with basic accounting tasks and reports other than aging. It has a good amount of internal integrity, i.e. you cannot have a difference between your AR sub ledger and the AR general ledger account. This is a great product if you are well skilled in using Excel to convert text to data, create pivot tables and manipulate report presentations. With the cloud version, you have access to a "classic" view that mirrors the former product and a new "online" version which is sometimes easier to use and more visually accessible in some screens.
    Read full review

    Pros

    FreeAgent

    • Accounting! As you'd expect. Makes it much simpler andmore cost effective. In-coming and out-goings are recorded and assigned to projects and accounts. My accountant can access my books and reconcile so much more easily than trawling through spreadsheets.
    • Time billing - time spent on projects/client work is recorded and is ready to be invoiced as required. Saves so much time and prevents inaccuracies.
    • Invoicing - again, it should do this well and it does. Non payment reminders are automatic and clients have no excuses for not knowing the status of their account.
    • Account dashboard - gives me an instant overview of the health of the business (am I on track to meet my yearly targets) and my accounts.
    Read full review

    Community Brands

    • Tech support and knowledge base. When I encounter an issue I can research the knowledge base to see if anyone else has had the same problem, and learn how to navigate. If I need further help, the support center is ready and available.
    • I like the product enhancements; they will listen to customer feedback and make changes where we, the users, see fit.
    • I like the shortcut buttons when you are in reporting; you can easily export to excel and PDF, print report details, etc...
    • I like the options that reporting gives; you can truly create a custom report to extract exactly what you want to see or don't want to see.
    Read full review

    Cons

    FreeAgent

    • Reporting on financials, time tracking and project status is a little poor. It's adequate for what what we need, but would be great to see more advanced features.
    • API is quite closed so cannot integrate with our other project management tools.
    Read full review

    Community Brands

    • Very difficult to use - not intuitive at all; I feel like you really need the training to understand the product.
    • Very little automation; everything has to be manually entered which allows the opportunity for more errors and also requires a lot of double and triple-checking entries.
    • Cumbersome and tedious to use; for example, a journal entry that could be done in two lines on other programs, in my experience, takes at least 6 in this program, sometimes more. When you have to do this repeatedly it takes significantly longer to do everything in this program than it should.
    • Constant issues with reporting; reports are often missing funds or are incorrect and I have to call customer support for help. Most of these issues cannot be resolved immediately and a ticket has to be created to solve them.
    • In my opinion, even simple things don't work properly. We recently found out that when exporting results into Excel, if you select to remove headers and footers with the export, the program also removes some of the data. No telling how long this has been an issue, so now we have a data integrity problem with all of our exports. MIP Fund Accounting says it will fix in the next update so this likely affects other users as well.
    • Because the product is so time-consuming and cumbersome, it creates efficiency issues; everything takes longer than it should to complete, so we have to hire additional staff, especially at peak times.
    Read full review

    Pricing Details

    FreeAgent

    Starting Price

    Editions & Modules

    FreeAgent editions and modules pricing
    EditionModules

    Footnotes

      Offerings

      Free Trial
      Free/Freemium Version
      Premium Consulting/Integration Services

      Entry-level set up fee?

      No setup fee

      Additional Details

      MIP Fund Accounting

      Starting Price

      $249 per month

      Editions & Modules

      MIP Fund Accounting editions and modules pricing
      EditionModules

      Footnotes

        Offerings

        Free Trial
        Free/Freemium Version
        Premium Consulting/Integration Services

        Entry-level set up fee?

        No setup fee

        Additional Details

        Request Pricing Info

        Likelihood to Renew

        FreeAgent

        No answers on this topic

        Community Brands

        We have been using MIP for over 25 years. In the '90s, we used the MS-Dos version and subsequently changed to the Windows version in the 2000s. Our organization is still relatively small in terms of staffing and even transaction volume; however, over the years, the number of projects has increased and is projected to increase drastically in the next year or two. With the increase in projects along with the ability of MIP to cater easily to large organizations, it makes perfect sense for us to renew when that time comes.
        Read full review

        Usability

        FreeAgent

        I spent nearly two decades in IT and am happy to say that FreeAgent's user interface is one of the best interfaces I have ever used.
        Read full review

        Community Brands

        I don't know what it would be like in the for-profit arena, but for the non-profit arena, it is an excellent product. I love how you don't actually have to close years and are able to get information that spans over the year-end. And the grant tracking is excellent too. It is just an excellent accounting system.
        Read full review

        Reliability and Availability

        FreeAgent

        Based in a cloud and never had any issues with down time. I can access from any device
        Read full review

        Community Brands

        Mostly its available when I need it. I do get kicked out of the cloud while entering data at times. But I do not lose data and can often just open up the classic version to continue doing what I was doing. Only rarely is there no availability and when that happens, its a very short amount of time.
        Read full review

        Performance

        FreeAgent

        No answers on this topic

        Community Brands

        I think the reporting options are one of the best I've seen within all accounting programs I've ever used. The ease of writing new reports makes this a wonderful program. With very little experience anyone can design the specific reports to fit the needs of their organization
        Read full review

        Support Rating

        FreeAgent

        No answers on this topic

        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.
        Read full review

        In-Person Training

        FreeAgent

        No answers on this topic

        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.
        Read full review

        Online Training

        FreeAgent

        No answers on this topic

        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.
        Read full review

        Implementation Rating

        FreeAgent

        No answers on this topic

        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.
        Read full review

        Alternatives Considered

        FreeAgent

        I used Fresh Books for about three years prior to switching to FreeAgent. It was the accounting functionality that made the difference - in the past two years I've not regretted the switch. Fresh Books is good, but its the UK accounting features that make FreeAgent indispensable to my business.
        Read full review

        Community Brands

        We have not researched or entertained other products during my tenure here at the organization. We have been pleased with what the product provides but would expect to reevaluate systems in the next five years to ensure MIP continues to be the best option for our rapidly changing organization and industry.
        Read full review

        Scalability

        FreeAgent

        No answers on this topic

        Community Brands

        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.
        Read full review

        Return on Investment

        FreeAgent

        • Professional and uniform offering providing great confident customer service. My clients love it, whether they use it a little or a lot. It's a great piece of software - while sophisticated, it's straightforward to use.
        • Time saving and efficient use of my team's time. Being able to easily share and compare work / tasks.
        Read full review

        Community Brands

        • The Accounting and HR teams have been able to eliminate double entry, and therefore free up a lot of time.
        • With the budgeting module, we have been able to obtain a firm grasp on our grants and utilize those funds in the best way possible.
        Read full review

        Screenshots

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