MIP Fund Accounting vs. Paylocity

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
MIP Fund Accounting
Score 8.9 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 8.2 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
YesYes
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, …
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
1446 Ratings
4% below category average
Employee demographic data00 Ratings8.41378 Ratings
Employment history00 Ratings8.21328 Ratings
Job profiles and administration00 Ratings7.91241 Ratings
Workflow for transfers, promotions, pay raises, etc.00 Ratings7.61254 Ratings
Organizational charting00 Ratings7.41154 Ratings
Organization and location management00 Ratings7.91135 Ratings
Compliance data (COBRA, OSHA, etc.)00 Ratings7.5969 Ratings
Payroll Management
Comparison of Payroll Management features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
8.3
1384 Ratings
2% above category average
Pay calculation00 Ratings8.61352 Ratings
Support for external payroll vendors00 Ratings7.8683 Ratings
Off-cycle/On-Demand payment00 Ratings8.71051 Ratings
Benefit plan administration00 Ratings7.6938 Ratings
Direct deposit files00 Ratings8.91346 Ratings
Salary revision and increment management00 Ratings8.21087 Ratings
Reimbursement management00 Ratings7.9685 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
1173 Ratings
7% below category average
Approval workflow00 Ratings7.71045 Ratings
Balance details00 Ratings7.41121 Ratings
Annual carry-forward and encashment00 Ratings7.7890 Ratings
Employee Self Service
Comparison of Employee Self Service features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
8.4
1392 Ratings
2% above category average
View and generate pay and benefit information00 Ratings8.61356 Ratings
Update personal information00 Ratings8.71380 Ratings
View company policy documentation00 Ratings8.11127 Ratings
Employee recognition00 Ratings8.31022 Ratings
View job history00 Ratings8.51211 Ratings
Asset Management
Comparison of Asset Management features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
7.4
451 Ratings
7% below category average
Tracking of all physical assets00 Ratings7.4451 Ratings
HR Reporting
Comparison of HR Reporting features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
7.3
1288 Ratings
3% below category average
Report builder00 Ratings7.31236 Ratings
Pre-built reports00 Ratings7.51254 Ratings
Ability to combine HR data with external data00 Ratings7.2824 Ratings
Onboarding
Comparison of Onboarding features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
8.2
1210 Ratings
3% above category average
New hire portal00 Ratings8.41200 Ratings
Manager tracking tools00 Ratings8.1974 Ratings
Performance and Goals
Comparison of Performance and Goals features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
7.8
687 Ratings
3% below category average
Corporate goal setting00 Ratings7.7551 Ratings
Individual goal setting00 Ratings7.8634 Ratings
Line-of sight-visibility00 Ratings7.7491 Ratings
Performance tracking00 Ratings7.9643 Ratings
Performance Management
Comparison of Performance Management features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
7.6
861 Ratings
4% below category average
Performance plans00 Ratings7.5785 Ratings
Performance improvement plans00 Ratings7.4680 Ratings
Review status tracking00 Ratings7.7791 Ratings
Review reminders00 Ratings7.8798 Ratings
Multiple review frequency00 Ratings7.7675 Ratings
Succession Planning
Comparison of Succession Planning features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
7.6
462 Ratings
3% below category average
Create succession plans/pools00 Ratings7.2318 Ratings
Candidate ranking00 Ratings7.5373 Ratings
Candidate search00 Ratings8.0418 Ratings
Candidate development00 Ratings7.6343 Ratings
Recruiting / ATS
Comparison of Recruiting / ATS features of Product A and Product B
MIP Fund Accounting
-
Ratings
Paylocity
8.0
815 Ratings
4% above category average
Job Requisition Management00 Ratings8.1700 Ratings
Company Website Posting00 Ratings8.2728 Ratings
Publish to Social Media00 Ratings8.0568 Ratings
Job Search Site Posting00 Ratings8.1695 Ratings
Duplicate Candidate Prevention00 Ratings7.6598 Ratings
Applicant Tracking00 Ratings8.2755 Ratings
Notifications and Alerts00 Ratings7.9752 Ratings
Best Alternatives
MIP Fund AccountingPaylocity
Small Businesses
QuickBooks Online
QuickBooks Online
Score 8.2 out of 10
Dayforce Powerpay
Dayforce Powerpay
Score 9.4 out of 10
Medium-sized Companies
Sage Intacct
Sage Intacct
Score 8.6 out of 10
Paypro Workforce Management
Paypro Workforce Management
Score 9.7 out of 10
Enterprises

No answers on this topic

PeopleStrong
PeopleStrong
Score 9.9 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
MIP Fund AccountingPaylocity
Likelihood to Recommend
9.0
(435 ratings)
8.3
(1525 ratings)
Likelihood to Renew
9.6
(132 ratings)
8.8
(166 ratings)
Usability
8.6
(103 ratings)
8.1
(333 ratings)
Availability
10.0
(15 ratings)
8.9
(36 ratings)
Performance
8.6
(92 ratings)
8.5
(35 ratings)
Support Rating
8.8
(100 ratings)
7.1
(148 ratings)
In-Person Training
10.0
(9 ratings)
8.2
(6 ratings)
Online Training
8.0
(7 ratings)
7.9
(29 ratings)
Implementation Rating
6.1
(28 ratings)
7.2
(92 ratings)
Configurability
8.4
(8 ratings)
7.1
(26 ratings)
Contract Terms and Pricing Model
-
(0 ratings)
8.4
(25 ratings)
Ease of integration
9.2
(14 ratings)
7.2
(28 ratings)
Product Scalability
8.1
(15 ratings)
8.3
(34 ratings)
Professional Services
-
(0 ratings)
8.5
(18 ratings)
Vendor post-sale
9.7
(13 ratings)
7.4
(34 ratings)
Vendor pre-sale
8.8
(13 ratings)
8.5
(31 ratings)
User Testimonials
MIP Fund AccountingPaylocity
Likelihood to Recommend
Momentive Software
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.
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Paylocity
Paylocity is a very user-friendly system. It is very easy to learn and use. They offer features like Time and Labor, Payroll, integrations with other software and Human Resources benefits. They have an excellent onboarding process and feature recruitment right at your fingertips, so you do not have to go on so many job boards. I like their self-service portal because it allows our staff independence on clocking in and out as well as requesting paid time off and our staff can make their own corrections when they miss a punch on their time sheet or forget to clock in and out for lunch or during the day.
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Pros
Momentive Software
  • Easy to obtain check register for select periods
  • Easy to do bank reconciliations
  • Easy to log in for remote work, for anywhere I need to access it from!
  • Easy to pull vendor, chart of accounts and other pertinent information, also easy to add information to those sections.
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Paylocity
  • Payroll is made pretty easy. I love that we have the ability to log into payroll, we just upload the information from commissions, things like that where there are exceptions to a regular payroll run. It may make it very easy to do that, just a quick upload. Additionally, when we're in the payroll grid, it gives us the ability to just make quick changes to people's pay or their tax schedule, tax withholdings, things like that without having to go through a lot of different screens. It's just very easy to access just for the click of a button. Love that.
  • We talked about performance reviews, talked about payroll with benefits administration, it allows us to utilize EDI feeds with our benefit vendors so it creates a seamless, but we just enter the information into Paylocity and then it seamlessly provides that information to our vendors. That's been really helpful. And adjusting benefits is also very easy within Paylocity. I love the recent edition of compensation analysis information, so I'm able to go into the compensation module and look for jobs that are similar to a job title at our company. I can enter the job description, I give them what state that the person or the job is in, and it pops out compensation data. It gives me different options, so titles that might be similar. So if there's not something that's an exact fit, I'm able to find something really, really close. It's been a huge upgrade because before that I was having to use a different vendor and paying $400 per job and now it's significantly less expensive to Paylocity and I'm still getting great quality data. It's been very helpful.
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Cons
Momentive Software
  • 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.
  • When processing W2 the system deletes info.
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Paylocity
  • Develop a full AP/AR process that integrates with the other financial tools like payroll, expenses, etc.
  • Have the platform DCAA compliant and have it audited so that companies can use it as a definitive government contracting platform.
  • Develop an improvement that would allow for Time and Labor integration and reporting to Medicaid for service providers so they don't need multiple systems.
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Likelihood to Renew
Momentive Software
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.
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Paylocity
There are several technical issues we have experienced this past year with the employee onboarding process that we are still waiting to have resolved. Overall our experience with Paylocity has been positive, and we love how user-friendly and easy to navigate the system is. It has made all of our HR processes much more streamlined and efficient.
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Usability
Momentive Software
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
I would give it that overall rating because we implemented in 2023 and so although that may feel like a lot of time, it still is, we still have a lot to learn and so I'm optimistic that as we learn more that rating will increase.
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Reliability and Availability
Momentive Software
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
Over the last 3 years, we've only had one major service issue that rendered Airbase unusable for us for about 24 hours. That said, they navigated the SVB bank crisis very well and made sure funds were available during that time.
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Performance
Momentive Software
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.
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Paylocity
We had some minor hiccups throughout the year but they have all been fixable. Paylocity integrates well with our 401k provider, Principal, and our benefits, OneDigital. It makes it simple to house everything and have it all connected. It doesn't slow anything down to have Principal integrated. It makes it more efficient
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Support Rating
Momentive Software
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
It is very hard to get answers to your questions, you cannot speak to someone without days of requesting assistance or answers and then eventually can get a call back and then it is usually resolved fairly quickly. But NOT easy to get that help.
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In-Person Training
Momentive Software
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
I didn't have in-person training, but I'm sure it was just as great as any other training/assistance Paylocity provides. Paylocity customer service is always available. You never have to be on hold and their answers are always accurate and timely. Documents in the help section are helpful as well. My in-person training was conducted y one of our employees who was involved in the initial set-up and training of all employees. She was excellent.
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Online Training
Momentive Software
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
Momentive Software
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
Implementation was a bit bumpy and Paylocity team not always available for next steps and/or questions. I feel like Paylocity could have done a better job in their fact finding as far as what we were currently doing, our payroll policies and needs, etc. so that we would have run into less issues as we moved forward.
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Alternatives Considered
Momentive Software
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.
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Paylocity
We went through demos five years ago and we evaluated ADP and UKG in the past, and we used Paycor previously. In the past, I've used ADP and Kronos when it was still Kronos at other companies. So several different ones. One of the main reasons was that it was all one platform and you didn't have to log into other platforms for it to communicate with each other. Payroll talks to time that talks back to payroll and you don't have to log into anything separate. The reporting was also really easy and you didn't have to have a master's degree to do it.
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Contract Terms and Pricing Model
Momentive Software
No answers on this topic
Paylocity
I didn't help but I like the pricing
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Scalability
Momentive Software
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
We have gone from a medium sized company to a larger company with no issues whatsoever with Paylocity being able to keep up or do what we need it to do for the size of our needs. In fact, it does more than we even use at this juncture
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Professional Services
Momentive Software
No answers on this topic
Paylocity
They are thorough, care about quality and success, take the time needed to implement properly, answer questions, build data feeds. A professional, caring, very skilled team there.
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Return on Investment
Momentive Software
  • 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.
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Paylocity
  • So when I first found Paylocity back in 2013 and was pitching it to the senior leadership company, my PowerPoint presentation, our return on investment was reducing errors in time and labor. We did paper time sheets back in the day back in 2007, 2008. So we were always running paper time sheets, Microsoft Excel or other standalone products, printing them out and hand keying them into a payroll system. So my ROI to our company was to save money and time on data entry and also to better manage the taxes. So we pay for the tax service, we're in 27 states having to manage that. Previously we were responsible for knowing what every state tax codes were, what every state tax compliance rules were. So with Paylocity we signed up for a tax service and that has been a huge return on investment.
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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

Paylocity Screenshots

Screenshot of a view of real-time employee data and performance metrics used to uncover and analyze trends. This creates an impactful understanding of the business, increase retention, understand labor costs, and plan for changes.Screenshot of where to automate manual processes with Paylocity's self-serve automation engine, Workflows. Users can implement routines for time-consuming manual tasks.Screenshot of where to manage and comply with employment law. Paylocity's HR Compliance solution helps users to stay on track and view important employee compliance items, from Equal Employment Opportunity (EEO), healthcare, and compensation.Screenshot of how Paylocity Recruiting can automate hiring processes. amplify outreach, showcase a company's culture, and build stronger candidate connections to swiftly fill positions.Screenshot of recognition and rewards in Paylocity.