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Top Rated
618 Ratings

MIP Fund Accounting

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Top Rated
618 Ratings
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Score 8.1 out of 101
8 Ratings
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Score 9.6 out of 101

Likelihood to Recommend

MIP Fund Accounting

Well-suited for basic accounting, I would give it an 8. Drill-down would be nice on the general ledger to be able to look at the original entry. Maintaining the year codes and distribution codes is much too involved-this needs to be streamlined. Would be nice to be able to update information on encumbrances and purchase orders prior payment. The accounts receivable module is a bit of a nightmare-we don't use the invoicing function as it is too involved for our company. While the Accounting function deserves and 8, I would only give the payroll function about a 4.5-sorry.
Eris Tanner profile photo

Receipt Bank Practice Platform

For organizations that require in depth detail in their financials, meaning detailed records of every expense, Receipt Bank is a great option. Accounting firms that are preparing the books for their clients in a cloud atmosphere will most certainly appreciate the ease of use provided with Receipt Bank. But for organizations that are small in number of employees, and maybe they all have company credit cards and no expense reports, Receipt Bank isn't necessary. It's still a "nice to have" software, but not required because these types of employees won't be keeping copies of receipts anyway.
Alicia Gates, CPA profile photo

Feature Rating Comparison

Payroll Management

MIP Fund Accounting
7.5
Receipt Bank Practice Platform
Pay calculation
MIP Fund Accounting
8.8
Receipt Bank Practice Platform
Benefit plan administration
MIP Fund Accounting
6.6
Receipt Bank Practice Platform
Direct deposit files
MIP Fund Accounting
8.5
Receipt Bank Practice Platform
Salary revision and increment management
MIP Fund Accounting
7.0
Receipt Bank Practice Platform
Reimbursement management
MIP Fund Accounting
6.4
Receipt Bank Practice Platform

Customization

MIP Fund Accounting
8.4
Receipt Bank Practice Platform
API for custom integration
MIP Fund Accounting
8.3
Receipt Bank Practice Platform
Plug-ins
MIP Fund Accounting
8.6
Receipt Bank Practice Platform

Security

MIP Fund Accounting
8.7
Receipt Bank Practice Platform
Single sign-on capability
MIP Fund Accounting
8.6
Receipt Bank Practice Platform
Role-based user permissions
MIP Fund Accounting
8.8
Receipt Bank Practice Platform

Reporting & Analytics

MIP Fund Accounting
7.6
Receipt Bank Practice Platform
Dashboards
MIP Fund Accounting
7.0
Receipt Bank Practice Platform
Standard reports
MIP Fund Accounting
8.0
Receipt Bank Practice Platform
Custom reports
MIP Fund Accounting
7.9
Receipt Bank Practice Platform

General Ledger and Configurable Accounting

MIP Fund Accounting
8.0
Receipt Bank Practice Platform
Accounts payable
MIP Fund Accounting
8.4
Receipt Bank Practice Platform
Accounts receivable
MIP Fund Accounting
8.2
Receipt Bank Practice Platform
Cash management
MIP Fund Accounting
8.1
Receipt Bank Practice Platform
Bank reconciliation
MIP Fund Accounting
8.5
Receipt Bank Practice Platform
Expense management
MIP Fund Accounting
8.4
Receipt Bank Practice Platform
Time tracking
MIP Fund Accounting
6.9
Receipt Bank Practice Platform
Fixed asset management
MIP Fund Accounting
7.8
Receipt Bank Practice Platform
Multi-currency support
MIP Fund Accounting
7.6
Receipt Bank Practice Platform
Multi-division support
MIP Fund Accounting
8.6
Receipt Bank Practice Platform
Regulations compliance
MIP Fund Accounting
8.3
Receipt Bank Practice Platform
Electronic tax filing
MIP Fund Accounting
7.9
Receipt Bank Practice Platform
Self-service portal
MIP Fund Accounting
7.3
Receipt Bank Practice Platform
Standardized Processes
MIP Fund Accounting
7.3
Receipt Bank Practice Platform

Inventory Management

MIP Fund Accounting
4.2
Receipt Bank Practice Platform
Inventory tracking
MIP Fund Accounting
7.3
Receipt Bank Practice Platform
Automatic reordering
MIP Fund Accounting
1.0
Receipt Bank Practice Platform
Location management
MIP Fund Accounting
7.7
Receipt Bank Practice Platform
Manufacturing module
MIP Fund Accounting
1.0
Receipt Bank Practice Platform

Order Management

MIP Fund Accounting
4.7
Receipt Bank Practice Platform
Pricing
MIP Fund Accounting
6.5
Receipt Bank Practice Platform
Order entry
MIP Fund Accounting
7.2
Receipt Bank Practice Platform
Credit card processing
MIP Fund Accounting
2.5
Receipt Bank Practice Platform
Cost of goods sold
MIP Fund Accounting
2.7
Receipt Bank Practice Platform

Pros

MIP Fund Accounting

  • Tracks budget amounts and availability very smoothly and the reports are easy to read and utilize.
  • The encumbrance tracking is excellent and makes staying on budget much easier.
  • The general ledgers are easy to access and read.
  • Information by funding source is easy to track and access.
  • Like the 1099 coding functions.
Eris Tanner profile photo

Receipt Bank Practice Platform

  • Key metrics on the submissions by clients and any delays. This allows for early identification where client may be struggling to get the information submitted to Receipt Bank, holding up the bookkeeping processing and ultimately delays in delivery of information to the clients.
  • Identifying unprocessed receipts sitting in the clients Receipt Bank file.. This assists in managing internal workflow and aiding team members who may find they need assistance in completing key tasks.
  • Identifying which clients are using Receipt Bank effectively and which clients need assistance. This can provide the opportunity to discuss with all clients what works well for them and what needs improvement by sharing some of the wins from other clients.
  • Providing managers the ability to review with ease the progress of Receipt Bank processing by client and by bookkeeper. This allows them to identify issues literally before they occur.
Tim Hoopmann profile photo

Cons

MIP Fund Accounting

  • The print on the screen is so small (probably an 8 font), it is hard to read for older users.
  • I would like to be able to change the name of a vendor without deleting it and then re-adding it which loses the history. Sometimes company names change but other aspects remain the same. Or you may mistype a name and need to correct it.
  • There is no easy way to change the chart of accounts if you need to do renumbering. If the person establishing the chart of accounts isn't experienced with it, there is no way to correct the mistakes. This is true especially for the numbering order and leaving enough space between numbers.
  • I wish there was a hard copy manual that clarifies what happens when specific information is typed or requested. For example: What happens in the system when you are writing a reversing journal entry. It allows for 4 different types of reversing entries, but doesn't identify the difference so one would know which one to select.
  • I would like to be able to refer back to other reports when using the "drill-down". The system doesn't allow for that.
Christine Frenzel profile photo

Receipt Bank Practice Platform

  • Receipt Bank Practice Platform has many great features. As they develop the platform I would like to see a rigorous review of all features so as not to add too many and overwhelm my team.
  • Having the flexibility to pick and choose from a suite of features and implement the ones that best suit my practice. A tailor made Receipt Bank Practice Platform. this would allow my practice to grow into the features rather than be overwhelmed by too many.
Tim Hoopmann profile photo

Likelihood to Renew

MIP Fund Accounting

MIP Fund Accounting 9.2
Based on 45 answers
We are not in the market for a new solution as this product works well for us and renewal is affordable.
Christine Ulshoffer profile photo

Receipt Bank Practice Platform

No score
No answers yet
No answers on this topic

Usability

MIP Fund Accounting

MIP Fund Accounting 8.3
Based on 39 answers
The system is very usable from my point of view - we have not experienced any difficulty in the daily functions
Christine Ulshoffer profile photo

Receipt Bank Practice Platform

No score
No answers yet
No answers on this topic

Reliability and Availability

MIP Fund Accounting

MIP Fund Accounting 9.0
Based on 6 answers
I refer back to the previous questions. It has suddenly quit on me.
Christine Frenzel profile photo

Receipt Bank Practice Platform

No score
No answers yet
No answers on this topic

Performance

MIP Fund Accounting

MIP Fund Accounting 10.0
Based on 6 answers
Yes, it works very well about 95% of the time. I don't notice any slow down with any programs it integrates with.
Christine Frenzel profile photo

Receipt Bank Practice Platform

No score
No answers yet
No answers on this topic

Support

MIP Fund Accounting

MIP Fund Accounting 8.4
Based on 37 answers
Every time we have needed support we had the issue resolved within an hour.
Bianca Jurczak profile photo

Receipt Bank Practice Platform

No score
No answers yet
No answers on this topic

In-Person Training

MIP Fund Accounting

MIP Fund Accounting 8.0
Based on 6 answers
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.
Christine Frenzel profile photo

Receipt Bank Practice Platform

No score
No answers yet
No answers on this topic

Online Training

MIP Fund Accounting

MIP Fund Accounting 5.7
Based on 4 answers
Personalized training provided for our organization
karen hoffman profile photo

Receipt Bank Practice Platform

No score
No answers yet
No answers on this topic

Implementation

MIP Fund Accounting

MIP Fund Accounting 6.1
Based on 22 answers
I would not implement without the help of a reseller.
Nikki Patterson profile photo

Receipt Bank Practice Platform

No score
No answers yet
No answers on this topic

Alternatives Considered

MIP Fund Accounting

I have not had an opportunity to compare this system to others. I had no input in selecting this system. I would have liked to have compared it to other systems in terms of ease of use/intuitiveness, flexibility and granularity of report development, and capabilities in dealing with prior year adjustments and their effect on trial balance reporting. On those counts, I do not think the system scores very high
Thomas Harty profile photo

Receipt Bank Practice Platform

I use both Receipt Bank Practise Platform and Hubdoc as they both have provided different features that are effective for my practise. A product that has a dashboard is very effective. Being able to go to one location and see all information on clients is vital to better productivity. I always do a full analysis of new products before implementing them in my practice. This assessment allows me to analyse the impact on internal productivity and also external ease of use and effectiveness for clients. They must deliver on solving an issue for my practice or my clients or both,
Tim Hoopmann profile photo

Scalability

MIP Fund Accounting

MIP Fund Accounting 9.0
Based on 6 answers
I have had some issues with the software suddenly closing with no reason given.
Christine Frenzel profile photo

Receipt Bank Practice Platform

No score
No answers yet
No answers on this topic

Return on Investment

MIP Fund Accounting

  • As a non-profit, our main business objectives are to stay within regulations so that we may be paid by our funders and continue to contract with them..MIP allows us to track information to assist in this objective.
  • Cash management is very important, since we are often paid in arrears. MIP helps us track cash and outstanding program balances.
Kathy Dugan profile photo

Receipt Bank Practice Platform

  • Receipt Bank has helped alleviate the frustration felt by both our clients and our staff when it comes to the detail needed for some of the organizations that we serve. In some cases it's just NECESSARY to have all of that detail for the financial statement preparation, and prior to Receipt Bank, we had to email back and forth, download attachments, manually enter the information into Quickbooks Online, save the document etc. It was a tedious process. Receipt Bank took care of all of that, and it saves both our clients and our staff HOURS of work each month.
  • Receipt Bank has given our clients the confidence to make their work places paperless offices. It frees time and money for them, because they don't have to keep track of the documents, they don't have to store the documents (and find a place to store them), and they never have to file them away. Receipt Bank archives all of the documents so you can find them if you ever need them, and the documents are in their financial data as well, which is where they really need them. I've never had a client regret going to Receipt Bank just because it makes life so much simpler for them.
Alicia Gates, CPA profile photo

Screenshots

Receipt Bank Practice Platform

Pricing Details

MIP Fund Accounting

General

Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No
Additional Pricing Details

Receipt Bank Practice Platform

General

Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No
Additional Pricing Details

Add comparison