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
MYOB
Score 7.4 out of 10
N/A
MYOB now has a suite of subscription-based products and a browser-based accounting product that was released in August 2010. On 24 October 2012, MYOB released AccountRight Live - the cloud-enabled version of its flagship product. MYOB competes with Xero and QuickBooks.
$11
per month
Pricing
MIP Fund Accounting
MYOB
Editions & Modules
No answers on this topic
Solo
$11
per month
Lite
$34
per month
Pro
$63
per month
Premier
$88.50
per month
Account Right Plus
$150
per month
Offerings
Pricing Offerings
MIP Fund Accounting
MYOB
Free Trial
No
Yes
Free/Freemium Version
No
No
Premium Consulting/Integration Services
Yes
No
Entry-level Setup Fee
No setup fee
No setup fee
Additional Details
—
—
More Pricing Information
Community Pulse
MIP Fund Accounting
MYOB
Considered Both Products
MIP Fund Accounting
Verified User
Manager
Chose MIP Fund Accounting
Again MIP is easy to use and has a lot of reporting features and is a very smart system. We chose this software because other utility companies in our region recommended this software. I attended the training for beginners or potential users and fell in love with it the first …
MIP Fund Accounting works very well for general fundraising. The form creation process is easy and allows you to set parameters and add fees, quantities, images, etc. This process is smooth on the customer (forward-facing) side as well. Reports are generated once the transactions have gone through, making tracking and reconciliation with accounting easy.
MYOB is suitable for any business. I have two different businesses and both use MYOB effectively. I use MYOB to pay wages every fortnight for both businesses. This enables me to track exactly what is happening with everyone's different sick leave and holiday entitlements easily. I'm also able to keep track of expenditure and balance and reconcile the accounts against bank statements.
With the payroll process, if there is an error in sending the stubs through email, there is no option to resend without a restore. That really needs to change.
Being able to void encumbrance at the same time as a PO would be an incredible time saver.
I give MIP a 10 because Our organization use MIP Fund Accounting ever since I've been there and that's been for over 20 plus years for all of our accounting and payroll. MIP has stayed on the cutting edge of technology, ever evolving to meet the needs of the times, especially post pandemic, while many are working remotely! MIP support staff are very knowledgeable and efficient. Even new users can get up to speed quickly with MIP Fund Accounting.
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
Still 10 for me, I have no problem at all using this toll even it hangs sometimes, I need to log in again to refresh it and it always ask to update the MYOB app. i Also like the security of this platform, iT always asks for the code (before logging in.
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.
We have 18 programs and the CFO has the ability through MIP Fund Accounting to generate separate and/or collective reporting for those programs. Each program has its own grant or funding source. Each has its own reporting guidelines that must be met so the ability to run reporting separately or collectively is a plus.
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.
MYOB accounting software basically works but looks and functions like 1998. Unfortunately their Antipiracy licensing system is absolutely TERRIBLE and verging on nearly criminal, scam! You must CONFIRM each and every data file and when it doesnt work you have to PAY THEM to fix their own file protection issues. If you dont pay them, they hold your data hostage as your company accounting information file becomes READ ONLY. Permantly, unless you pay them. This is a total extortion SCAM. I cannot believe a company can operate this way. With a lot of better product available... i dont imagine MYOB is going to survive much longer.
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.
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.
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.
I've utilized other ERP accounting software like Infor, NetSuite, and MS Dynamics, to name a few. MIP Fund Accounting offers flexibility and room for growth while not being overly heavy on your team to maintain it. And, we're now learning more about the add-on's and more advanced capabilities to leverage with our team.
Not even close. Though I will say MYOB had a budget module where Zoho Books doesn't which is one thing severely lacking in Zoho Books. On the other hand, Zoho Books allows for payment processing integration without trying to get a cut from the process whereas MYOB allowed for payment processing but you had to go through their service only and it wasn't cheap.
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.
We converted to the cloud version a few years ago to reduce our dependency on a dedicated internal IT server which needed to be replaced. The cost of the product switched to a monthly fee which increased cost somewhat but probably is matched with IT savings over time in doing upgrades.
We have an efficient team of two people doing the transactional work, so we don't really have much incentive to further automate our processes. And with the turnover in the CFO position we have had, has helped us maintain consistency in our processing.
Once I learned how to memorize and recall transactions it was a huge timesaver and increased the accuracy and consistency of our entry.
The cost of training is sometimes prohibitive. Example is my accounting clerk MIGHT benefit from additional training but at about $200 for a lot of the courses, it is more than we have budgeted.
