MIP Fund Accounting vs. Nvoicepay

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
MIP Fund Accounting
Score 8.5 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.
$249
per month
Nvoicepay
Score 8.0 out of 10
N/A
Nvoicepay headquartered in Beaverton offers accounts payable automation, and vendor payment data management to enterprises.N/A
Pricing
MIP Fund AccountingNvoicepay
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
MIP Fund AccountingNvoicepay
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
User Ratings
MIP Fund AccountingNvoicepay
Likelihood to Recommend
8.5
(404 ratings)
8.0
(2 ratings)
Likelihood to Renew
8.9
(92 ratings)
-
(0 ratings)
Usability
8.4
(93 ratings)
-
(0 ratings)
Availability
9.0
(13 ratings)
-
(0 ratings)
Performance
8.3
(55 ratings)
-
(0 ratings)
Support Rating
8.4
(125 ratings)
-
(0 ratings)
In-Person Training
10.0
(7 ratings)
-
(0 ratings)
Online Training
9.8
(5 ratings)
-
(0 ratings)
Implementation Rating
9.8
(44 ratings)
-
(0 ratings)
Configurability
10.0
(5 ratings)
-
(0 ratings)
Ease of integration
9.5
(6 ratings)
-
(0 ratings)
Product Scalability
10.0
(8 ratings)
-
(0 ratings)
Vendor post-sale
7.0
(8 ratings)
-
(0 ratings)
Vendor pre-sale
6.9
(8 ratings)
-
(0 ratings)
User Testimonials
MIP Fund AccountingNvoicepay
Likelihood to Recommend
Community Brands
I tried a couple of other funds accounting software, and we had staff that was familiar with MIP. I then chose MIP for both companies. I know we get accurate information out of MIP as long as the information put in is good. MIP is a little clumsy for AR billing, but maybe it would be easier to use if it was available in the cloud module (or if it is, I haven't been able to see it).
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Nvoicepay
Nvoicepay is super helpful for organizations that want to run lean and have a lot of accounts payable going out each day/week/month. The cost of having Nvoicepay vs having an employee process payments for each of our vendors is a massive cost savings. I believe it would be less appropriate for organizations that are only sending a few payments each month or have a lot of recurring payments instead of unique bills each month. Recurring payments are easily booked and memorized in most accounting systems and setting up autopay takes care of having to actually make the transaction manually.
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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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Nvoicepay
  • Nvoicepay does a great job of pulling the invoices in from our DMS system on a daily basis so we can see what invoices need to be paid.
  • NVoicepay allows for many methods of payment. They call all of your vendors for you and set them up on their preferred payment methods.
  • NVoicepay takes care of all issues for you with the vendor. They make all of the payments once you initiate it in their system.
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Cons
Community Brands
  • My #1 request would have a report that can pull from all modules. There are some reports that I have to run in separate areas to compile the data I want. If there were a one-stop-shop report center, that would be fantastic.
  • I would love to have an option to make text size bigger in all parts of the system.
  • We are in CA; I would like to see call center coverage to account for the time change to Texas.
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Nvoicepay
  • Perhaps the most frustrating part of Nvoicepay is the reporting. Simply working through the filtering to find a transaction in the history is extremely difficult. If you don't select the filters in the correct order you will typically find zero results.
  • The formatting for the upload is also a little tricky. Since you are uploading an excel file, any zip codes with leading zeros typically have the zeros removed and result in a failed upload. So having to place an apostrophe in front of any leading zeros is kind of pain especially when you have 100 plus lines of transactions.
  • The main dashboard is also something to be desired. I understand the concept of providing the dashboard, but what use is it if I can't dig in and see what the numbers and graphs are made of? If Nvoicepay was able to hyperlink to the transactions that make up each category it would make the dashboard far more useful.
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Likelihood to Renew
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.
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Nvoicepay
No answers on this topic
Usability
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.
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Nvoicepay
No answers on this topic
Reliability and Availability
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.
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Nvoicepay
No answers on this topic
Performance
Community Brands
I feel that reporting is difficult to use. Copying existing reports for a new fiscal year is easy but often the data you want to display is not selected, even filtering for the correct data. We routinely have to call support for assistance with reports and most of the issues cannot be resolved during a phone call, a ticket has to be placed for more in-depth examination of the issue. Multiple users cannot run the same report at the same time; so if two people are trying to run an expanded GL, you will have to copy the report and save it with a new name in order to use it at the same time. This results in lots of unnecessary reports in the list. In addition, once you have been using the system for a while you wind up with hundreds of reports in your list of options; there may be a way to archive reports but we have not found that yet so we currently have reports in our list from accounts that are over 10 years old.
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Nvoicepay
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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Nvoicepay
No answers on this topic
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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Nvoicepay
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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Nvoicepay
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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Nvoicepay
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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Nvoicepay
We used Zevez in the past to make credit card payments but NVoicepay is a much more robust system which also allows for ACH and check payments. Also, they were able to contact vendors for us and sign them up with their preferred payment methods. Easy to implement and easy to use.
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Scalability
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.
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Nvoicepay
No answers on this topic
Return on Investment
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.
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Nvoicepay
  • Nvoicepay has had only a positive impact on our overall business objectives. Since it takes care of remedial tasks of processing payments we are able to concentrate on more complex tasks such as prepping for close, creating schedules, and improving other processes.
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