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.
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Paycor
Score 7.4 out of 10
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Paycor provides core HR functions scaled towards small and mid-sized businesses. Paycor offers an integrated benefits platform for interfacing directly with insurance carriers and an adaptable time management platform.
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Pricing
MIP Fund Accounting
Paycor
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
MIP Fund Accounting
Paycor
Free Trial
No
Yes
Free/Freemium Version
No
No
Premium Consulting/Integration Services
Yes
Yes
Entry-level Setup Fee
No setup fee
Optional
Additional Details
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Paycor's pricing for small, mid, and enterprise companies varies based on product bundle and company size. Because Paycor HR software is built to help businesses scale and grow, plans are based on the mix of HR products needed, and company size. Payroll is at the core of Paycor's offering, and their products are sold as a part of their payroll and HR platform.
Paycor was chosen because of the services it provided met the needs we were looking for. It also offered several other services we would like to use in the near have all HR related functions under one system and provide many resources to our employees.
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.
Paycor is well-suited for many organizations due to its high level of customization. As a non-profit with unique needs, we have some atypical situations, and Paycor worked closely with me to set up the platform to meet those requirements. I don’t recall ever hearing, “that can’t be done.” I’m constantly learning new ways to utilize its features. Although we operate from a single location, Paycor can accommodate organizations with multiple locations across various states. I believe the only situation where Paycor might be less appropriate is for employers with a very small number of employees.
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
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.
Price point is the biggest driving factor. Paycor has made some strides in the customer service area and we've seen enough improvements that renewing our contract has become more a reality than a pipe dream. The system functions well and our employees are familiar with how it works, so to make a change would be a huge lift for our team
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
Once it's set up and good to go, if you know how to make small changes or get the right CS rep to help, it really does save time, help a lot, and give you significant capabilities that would otherwise cost you the price of a consultant.
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.
I feel like Paycor is always up and running! If they are planning downtime, they communicate it clearly. Every once in a while, I get something that says the system isn't working but it is usually back up within the hour. I typically find by the time that the employees complain about it, that it is resolved within the system.
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.
For the most part, everything moves super fast. There are a few sections (Expense Management) that sometimes take a bit to load correctly. Or if they are interesting, it takes a minute to talk to each other! But reports are quickly downloaded and available! Even data heavy reports run fairly fast!
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.
I feel like support will transfer you back and forth between departments and put you on hold forever. I believe it is very difficult to see the status of an open ticket. During my experience, it feels like the client has to push all communication and request updates from support regularly.
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.
The online trainings are super helpful. They have user guides that you can read through, interactive training that will walk you through it as well as plain web based ones. I've actually never had an in-person training but all of the information you need can be found online. They also will do individual support training if you are struggling with a certain area.
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.
Implementation of any new software is going to be challenging, especially if you are maintaining an existing program concurrently. When it is time for dual-processing (both old and new software) prior to going live, be prepared to be stressed. But trust the process and it will be over soon.
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.
Paycor was just the product that seemed to offer the most diversity of products and the easiest to use. Our previous software was too complicated when you needed to add a job code or change a benefit. Paycor makes these changes easy to do. The employee app was also the one that looked like the most beneficial for our user experience
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.
I gave it a 10 because we only use it across one organization. However, it has allowed us to break it into multiple departments and layers of management. It is also easy for us to utilize across different locations but still under one master company. They have always provided us support when we decide to change something on an organizational level
Freeing HR's time has been necessary since only two people are in our HR department.
Allowing employees to use the mobile app for their timecards has led to less tracking down of out-of-office employees for their hours on payroll weeks.
Downloadable workflows have been a real-time saver when preparing documentation for audits.
