MIP Fund Accounting vs. Paylocity

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
MIP Fund Accounting
Score 8.7 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.N/A
Paylocity
Score 7.8 out of 10
N/A
Paylocity provides 24/7 access to your online payroll and human resource data management. Paylocity offers highly customizable payroll functionality, as well as HR, benefits administration, and time and talent management programs.N/A
Pricing
MIP Fund AccountingPaylocity
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
MIP Fund AccountingPaylocity
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
Community Pulse
MIP Fund AccountingPaylocity
Considered Both Products
MIP Fund Accounting

No answer on this topic

Paylocity
Chose Paylocity
paylocity id 100 times better than them.
Chose Paylocity
We had a pretty bad experience with ADP Total Source, so moving the Paylocity was the best thing we ever did. ADP TS is a PEO and not only do they charge so much, it is also very restrictive for the organization. WE had used ADP a stand alone before moving to Total Source, …
Top Pros
Top Cons
Features
MIP Fund AccountingPaylocity
Human Resource Management
Comparison of Human Resource Management features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
7.8
827 Ratings
0% below category average
Employee demographic data00 Ratings8.6778 Ratings
Employment history00 Ratings8.2760 Ratings
Job profiles and administration00 Ratings7.8697 Ratings
Workflow for transfers, promotions, pay raises, etc.00 Ratings7.6709 Ratings
Organizational charting00 Ratings7.1650 Ratings
Organization and location management00 Ratings7.8631 Ratings
Compliance data (COBRA, OSHA, etc.)00 Ratings7.5541 Ratings
Payroll Management
Comparison of Payroll Management features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
8.1
814 Ratings
1% above category average
Pay calculation00 Ratings8.6790 Ratings
Support for external payroll vendors00 Ratings7.3364 Ratings
Off-cycle/On-Demand payment00 Ratings8.4564 Ratings
Benefit plan administration00 Ratings7.2542 Ratings
Direct deposit files00 Ratings9.0790 Ratings
Salary revision and increment management00 Ratings8.2626 Ratings
Reimbursement management00 Ratings7.9386 Ratings
Leave and Attendance Management
Comparison of Leave and Attendance Management features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
7.6
679 Ratings
6% below category average
Approval workflow00 Ratings7.9602 Ratings
Balance details00 Ratings7.4650 Ratings
Annual carry-forward and encashment00 Ratings7.4503 Ratings
Employee Self Service
Comparison of Employee Self Service features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
8.3
826 Ratings
2% above category average
View and generate pay and benefit information00 Ratings8.5806 Ratings
Update personal information00 Ratings8.6817 Ratings
View company policy documentation00 Ratings8.0647 Ratings
Employee recognition00 Ratings8.3564 Ratings
View job history00 Ratings8.3682 Ratings
Asset Management
Comparison of Asset Management features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
7.5
232 Ratings
3% below category average
Tracking of all physical assets00 Ratings7.5232 Ratings
HR Reporting
Comparison of HR Reporting features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
7.0
753 Ratings
8% below category average
Report builder00 Ratings7.0721 Ratings
Pre-built reports00 Ratings7.4734 Ratings
Ability to combine HR data with external data00 Ratings6.5434 Ratings
Onboarding
Comparison of Onboarding features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
8.2
703 Ratings
2% above category average
New hire portal00 Ratings8.3699 Ratings
Manager tracking tools00 Ratings8.0544 Ratings
Performance and Goals
Comparison of Performance and Goals features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
7.4
365 Ratings
10% below category average
Corporate goal setting00 Ratings7.4275 Ratings
Individual goal setting00 Ratings7.4337 Ratings
Line-of sight-visibility00 Ratings7.3238 Ratings
Performance tracking00 Ratings7.4339 Ratings
Performance Management
Comparison of Performance Management features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
7.4
469 Ratings
7% below category average
Performance plans00 Ratings7.2419 Ratings
Performance improvement plans00 Ratings7.2347 Ratings
Review status tracking00 Ratings7.4431 Ratings
Review reminders00 Ratings7.5432 Ratings
Multiple review frequency00 Ratings7.6354 Ratings
Succession Planning
Comparison of Succession Planning features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
7.2
216 Ratings
9% below category average
Create succession plans/pools00 Ratings6.8143 Ratings
Candidate ranking00 Ratings7.1176 Ratings
Candidate search00 Ratings7.4196 Ratings
Candidate development00 Ratings7.4158 Ratings
Recruiting / ATS
Comparison of Recruiting / ATS features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
7.7
444 Ratings
1% below category average
Job Requisition Management00 Ratings7.8367 Ratings
Company Website Posting00 Ratings8.1388 Ratings
Publish to Social Media00 Ratings7.7300 Ratings
Job Search Site Posting00 Ratings7.7366 Ratings
Duplicate Candidate Prevention00 Ratings7.0305 Ratings
Applicant Tracking00 Ratings8.0409 Ratings
Notifications and Alerts00 Ratings7.9408 Ratings
Best Alternatives
MIP Fund AccountingPaylocity
Small Businesses
QuickBooks Desktop Pro
QuickBooks Desktop Pro
Score 8.0 out of 10
Patriot Software
Patriot Software
Score 9.0 out of 10
Medium-sized Companies
Sage Intacct
Sage Intacct
Score 8.7 out of 10
Paypro Workforce Management
Paypro Workforce Management
Score 9.5 out of 10
Enterprises

No answers on this topic

Infor Human Resources
Infor Human Resources
Score 7.3 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
MIP Fund AccountingPaylocity
Likelihood to Recommend
8.8
(429 ratings)
7.7
(861 ratings)
Likelihood to Renew
9.2
(125 ratings)
8.9
(80 ratings)
Usability
8.2
(100 ratings)
8.5
(57 ratings)
Availability
9.8
(15 ratings)
8.6
(8 ratings)
Performance
8.5
(84 ratings)
9.3
(8 ratings)
Support Rating
7.8
(99 ratings)
7.3
(77 ratings)
In-Person Training
10.0
(8 ratings)
-
(0 ratings)
Online Training
8.3
(7 ratings)
7.7
(8 ratings)
Implementation Rating
6.5
(28 ratings)
8.2
(33 ratings)
Configurability
8.6
(8 ratings)
7.9
(6 ratings)
Contract Terms and Pricing Model
-
(0 ratings)
8.1
(4 ratings)
Ease of integration
7.8
(13 ratings)
6.1
(6 ratings)
Product Scalability
8.7
(15 ratings)
8.6
(7 ratings)
Professional Services
-
(0 ratings)
9.1
(4 ratings)
Vendor post-sale
8.3
(13 ratings)
7.4
(6 ratings)
Vendor pre-sale
8.1
(13 ratings)
8.8
(5 ratings)
User Testimonials
MIP Fund AccountingPaylocity
Likelihood to Recommend
Community Brands
MIP Fund Accounting is well suited to any company that has multiple funding sources and expenses that they need to keep a close track on. In non-profit organizations we are looked at closely and it is important to be able to accurately show where our revenue comes from and where it is going. MIP Fund Accounting can handle that easily. It is not a system I would recommend to a small business as there are so many features that they would not need for the cost to them, at least not the versions we use.
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Paylocity
As mentioned, Paylocity is great as a payroll service for getting employees paid and also for them to get information using their self-service. Definitely could be improvements in the ATS/recruiting piece of the plaform. Paylocity is a payroll first platform and recruiting is an add-on, so the functionality is not as good as it is with stand-along ATS.
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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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Paylocity
  • Customer Service is always helpful with little wait time.
  • Always improving; for example, the recent change to processing payroll. So much easier.
  • Onboarding makes it simple and the fact that the company can personalize the messaging to new hires allows us to make it more personalized.
  • Having an assigned account manager regardless of company size is definitely a plus.
Read full review
Cons
Community Brands
  • Could be more streamlined
  • Could have a more basic version (it is a step up in complexity from quickbooks)
  • When trying to go back to a previous page/task (the 'done' or 'back' buttons) sometimes do go back too far, but sometimes they do. More consistency of how those buttons work would help.
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Paylocity
  • Functionality of the Mobile App needs to match web portal. i.e. Employees unable to access self-appraisals for annual performance reviews on the app. Employees will have to use their browsers on the phone to access. Also, Employees are unable to adjust their State and Federal Tax withholdings via the App. They need to log into via their browsers.
  • Would like to see easier accessibility to establishing APIs (Application Programming Interface) from Paylocity to my own IT department. Attempted to do this and there was a PEPM (per employee per month) charge for this integration. Don't mind paying an initial set up but after that a PEPM seems a little steep. Be a better value-added partner with your clients in solving business problems. Huge area of opportunity and more than willing to discuss further with you.
  • Auto Assignment of Expense Management Rules. Currently have to refresh the Expense Management rules to ensure that all employees are part of it. This should be able to be automated much in the same way Attendance policies are managed for various employee populations.
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Likelihood to Renew
Community Brands
I would give this software a high ranking for my use of it because I have a lot of experience setting it up properly. What I would like to learn more about this program is it's Drillpoint add on feature as this has a lot of potential to allow managers instant access to their financials and invoices when set up correctly
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Paylocity
We have had many issues with the way our platform was set up at implementation that still continue to plague us. In addition, our benefits, in particular our FSA, have been mis-managed causing a balance due from an employee (and also a lot of work for our accounting and HR team, as well as stress for the employee). Our service rep continues to answer incorrectly on many fronts (original response is usually check out this paylocity article, vs. helping) and recently our COBRA management was mishandled (not adding Dental to a person on Cobra who had requested it). So- all in all...we are not particularly happy w/ Paylocity
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Usability
Community Brands
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
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Paylocity
Overall, in my experience, Paylocity has been easy to use for both staff and administrators. First, the staff has an application and inputting Paid Time Off is easy to do. I then get an alert on my app and I am able to approve it on the spot from my app that gives me access as an employee and an administrator without having to use multiple apps or logins. As an administrator I think the portal is easy to use, Paylocity did a great job showing me tools and rolling out training classes before rollout.
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Reliability and Availability
Community Brands
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.
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Paylocity
there are frequent issues with the recruiting module not fully working and there is no rush from paylocity to fix it
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Performance
Community Brands
We are able to generate reports in any format that we need to show the information that we have in a clear way that is easy for staff and our boards to read. We can easily run the reports agency-wide or break them down by fund or project, showing the details that we need.
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Paylocity
pages load in an acceptable amount of time, reports come back quickly, but integration is very complicated and hasn't been possible
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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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Paylocity
Everyone wants immediate assistance. Awaiting a response from an email only to ask 2-3 more questions is time consuming. Within the first six months of setup, I would rather respond back to the instructors who provided me the training in each category of my contract.
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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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Paylocity
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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Paylocity
The training was live online, but was with a group of other companies. We did not receive any personalized training with our team. Whenever we would ask for training, we would be sent a peak article link or a video. It felt like the reps we dealt with didn't know the answer to the questions.
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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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Paylocity
I had gone through an implementation process of another HR platform (Paycom) in my previous job and was traumatized, it was painful. I was surprised how easy and fast it was with Paylocity, the team was very helpful and set us up for success
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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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Paylocity
Paylocity is so much better than ADP and Paychex Flex. These platforms are much more difficult to navigate and do not even come close with providing things like Community. Their systems are more confusing then Paylocity and there is not as many modules to explore and implement. Paychex Flex does not offer nearly as many modules or tools and is very basic. While it gets the basic job done, we like to include more detailed information in our system and that system just did not allow us too.
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Contract Terms and Pricing Model
Community Brands
No answers on this topic
Paylocity
Include more services in the packages they offer.
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Scalability
Community Brands
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.
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Paylocity
You have an account manager assigned to you on a daily basis but that person is barely available to you
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Professional Services
Community Brands
No answers on this topic
Paylocity
Support is quick and proffessional
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Return on Investment
Community Brands
  • We don't use all the add-ons, but for the basic accounting that we need it for it is an excellent product. We have been using it since 2001. There are other products on the market, but this suits our needs completely.
  • It is easy to learn, with a lot of online support.
  • New staff learn to use the system quite easily.
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Paylocity
  • We are able to get much better payroll data for our accounting needs.
  • Much less time spent on doing payroll.
  • Better recordkeeping of our employee's information and documents.
  • Less errors.
  • Cost is much more than we were spending, but it is worth it.
Read full review
ScreenShots

MIP Fund Accounting Screenshots

Screenshot of MIP Advance™ Dashboards with drilldownScreenshot of MIP™ Transactions WorkflowScreenshot of MIP DashboardsScreenshot of MIP DashboardsScreenshot of MIP Dashboard drilldownScreenshot of MIP Transactions