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MIP Fund Accounting

MIP Fund Accounting

Overview

What is MIP Fund Accounting?

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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Recent Reviews

Outstanding Software!

10 out of 10
February 16, 2024
Incentivized
MIP Fund Accounting assists our organization in tracking and managing expenses and receivables on a daily basis. MIP assists us in …
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Awards

Products that are considered exceptional by their customers based on a variety of criteria win TrustRadius awards. Learn more about the types of TrustRadius awards to make the best purchase decision. More about TrustRadius Awards

Reviewer Pros & Cons

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Video Reviews

1 video

MIP Fund Accounting Review: Serves As A Customizable Accounting Solution Software
01:14
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Product Demos

Introduction to MIP Cloud Accounting Software

YouTube
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Product Details

What is MIP Fund Accounting?

MIP Fund Accounting is a configurable fund accounting solution that allows users to report and track finances, streamline processes, and scale and grow based on your unique needs. MIP is the accounting software of choice, with cloud or on-premises deployment options, and designed to meet and handle the complex accounting needs of nonprofit financial management.

MIP's integrated software solution suite provides general ledger, accounts payable and receivable, budgeting, payroll, human resources, allocations management, procurement, fixed assets, grant management, and advanced security functionality. The solution enables users to manage and report on multiple cost centers at the general ledger level including multiple organizations, funds, projects, grants, programs, departments, locations, etc.

MIP Fund Accounting exclusively serves the financial management and fund accounting needs for nonprofits, schools, native nations, and government agencies with its complete, end-to-end suite of functionality and multi-segmented chart of accounts. The company states that with the right fund accounting platform and expert guidance, users can track unlimited funds, manage complex reporting requirements, streamline productivity, and make the right data-driven business decisions for an organization.

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 TransactionsScreenshot of MIP Budget WorksheetScreenshot of MIP ReportingScreenshot of MIP Audit Trail  and SecurityScreenshot of MIP PortalScreenshot of MIP Fund Accounting

MIP Fund Accounting Video

Meet MIP Fund Accounting

MIP Fund Accounting Technical Details

Deployment TypesOn-premise, Software as a Service (SaaS), Cloud, or Web-Based
Operating SystemsWindows
Mobile ApplicationNo

Frequently Asked Questions

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.

Sage Intacct, Blackbaud Financial Edge NXT, and QuickBooks Desktop Pro are common alternatives for MIP Fund Accounting.

Reviewers rate In-Person Training highest, with a score of 10.

The most common users of MIP Fund Accounting are from Mid-sized Companies (51-1,000 employees).
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Comparisons

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Reviews and Ratings

(819)

Attribute Ratings

Reviews

(76-100 of 429)
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March 25, 2022

Satisfied

Score 5 out of 10
Vetted Review
Verified User
Incentivized
  • cross-fiscal year reporting
  • distribution of expenses among many funding sources
  • custom financial reports
  • COPY and Paste functions while entering transactions
  • Ability to add lines between lines while entering transactions
  • More free trainings on specific topics
Score 7 out of 10
Vetted Review
Verified User
Incentivized
  • Import
  • Budget
  • Accounts Receivable
  • Adjusting entries - copying and reversing takes a lot of extra steps, would be nice to edit the original within a timeframe instead of copying and reversing.
  • Double checks - would be nice to have to enter ach info twice to double-check info being entered, this would make us more comfortable to not always have to do a prenote. would also be nice to auto pre nose new ACH info entered rather than having to wait for the first payment.
  • Printing - would be nice to be able to print unposted directly from the entry page instead of having to pull a separate report
  • reporting, sometimes you can't pull info in a report if you have too many filters, even if you know what you entered has entries, it will give you an error message if it doesn't want to filter certain reports by fund gl and activity code
  • customer service- a lot of times when we call the person on the phone can't help us and we end up having to figure it out ourselves
March 23, 2022

MIP top notch service

Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • The ability to customize reports to create what you need it simple and easy.
  • All the different modules have great workflow processes on the main screen to know exactly what needs to occur and what process.
  • Support has been exceptional and quick for any questions or issues that have arised.
  • I wish there was an ability to have just an AR credit instead of adding a negative invoice.
  • Wish there was the ability to track allocation changes without creating a new copy of that allocation.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Easy to use and has great functionality.
  • I had used other accounting programs which were great, but this one is particularly good for nonprofits.
  • Grant tracking is a great tool.
  • I wish there was a manual sometimes, so that I could look up how to do something.
  • Windows 10 upgrade and MIP seemed to have a few printing issues, at least for our organization. Our tech support spent an hour with MIP customer support trying to resolve the issue.
October 08, 2021

Simple and User Friendly

Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • MIP offers many features that can automate work. One of my favorite ways to automate is assigning a GL code to a specific vendor. It makes cutting checks faster and more accurate.
  • I appreciate the warnings that can be set up. It is helpful especially at year end to be warned if I am entering for the previous fiscal year and forbidden to adjust earlier in the year.
  • I like that MIP shows each change to the GL. Yes, the data looks clunky but it provides the full story to changed JV's both for the auditors and for myself.
  • MIP Cloud took away the ability to have multiple things open simultaneously. Now if I need to add a vendor in the middle of a check run, I need to completely exit the batch. The desktop version offered ways to have both open simultaneously.
  • The Cloud version is picky about checking duplicate document numbers during a bank reconciliation. If I select avoided check and there are two document 15's, it will only save one document. I have to go to the desktop version to lock it.
  • The Cloud version does not allow me to do my Recurring Entries. They automatically appear with a warning that they are due when I enter the desktop version.
Score 6 out of 10
Vetted Review
Verified User
Incentivized
  • MIP provides reports that are easy to adapt to current needs.
  • MIP is good with multiple funds and departments.
  • There are date and GL combination settings that ensure incorrect data is not going to a place that it shouldn't.
  • The navigation is difficult. It takes me longer to find things than it should.
  • It lacks the ability to have multiple tabs open simultaneously.
  • The new online system took away the drill-down option and the ability to add new vendors while cutting payables.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Check signature(s), very easy to input the check signature(s) and have a rule on the signer.
  • GL report, it can be very detail[ed] by using the content to add the details you want. The report can be [of] the whole of the organization or filter[ed] down to the level you want.
  • Import and Export, MIP did very well in that you can import any accounting related transactions.
  • Wish MIP had a better guideline on creating the statement of revenue template or financial statement format.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • The system is designed specifically for non-profit enterprises and their needs. Everything from account codes to audit logs; nothing is left out.
  • The report function is great. You are able to create pie charts and bar graphs, from organization wide down to individual grants.
  • I love that I can process 941s and other tax forms right from the software.
  • I've sat on several trainings and I feel that they are basic and broad. More real-life and in-depth examples for people that have been using the software would be great. I think the trainings are more geared to those that are just beginning to use MIP Fund Accounting.
  • I would like to see MIP Fund Accounting create a bank feed function to be used to aid the bank reconciliations.
  • For EWS, I think it would be beneficial for employees to still be able to track their hours worked in each grant per day; instead of having to break those hours up in a Cost Center on time entry for each day. This gets very daunting for some folks that have 5 or 6 splits, to record that each day. We've set these people up with a Cost Center using a distribution code; but it would still be beneficial for an auditor to see an employee document their hours worked per grant each day.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Grant level accounting. We manage well over 50 active grants at any given time. This system allows us to track revenue and expenditures at a grant level which enables our staff to accurately and effectively manage, monitor and report to funders.
  • Allocations module. The allocation module functions enable us to set various allocation methods to capture overhead costs and allocate to cost centers and grants efficiently and effectively.
  • Fixed Asset module. The fixed asset module allows us to integrate asset tracking and depreciation schedules that are easy to use and integrated for efficiency.
  • Drill Point reporting. This functionality looks to be very helpful, but the learning curve for effective setup and integration has proved to be hard to fully implement.
  • Regional access to training. In person training options are limited to areas that are not conducive for easy access from the East Coast.
  • GL limitations for our industry specific tracking and reporting requirements. We have many, many different expense level tracking requirements from allowable grant costs and medical cost reporting requirements that would need a more robust GL naming convention to adequately provide the tracking needed. At this time we still do offline tracking and data accumulation for certain requirements.
Bob Simpson | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Multiple segment fund and expense recording
  • Versatile chart of accounts development
  • AP approval process and expense scheduling
  • Speed and stability
  • Bank reconciliation is a little cumbersome for small organizations.
  • No automated backup from within program. Does have manual backup.
  • Little flexibility in customizing check printing - must use approved stock.
July 04, 2021

Great value

Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Financial reporting
  • Budget analysis
  • Accounts Payable
  • Ability to use the same invoice number for different vendors in the same batch
  • Simplify report writing
  • Simplify file imports
June 21, 2021

MIP for Me

Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Allows for custom segment structure.
  • Reporting is fairly easy to customize.
  • Ability to copy, reverse, manage recurring sessions easily.
  • Budget templates can be cut and pasted from excel, which allows for easy transfer of data without input.
  • Import process is easy and intuitive, and allows for pre-validation of data.
  • Cannot handle importing of large batches, they must be broken down to less than 500 transactions or the system will lock up. Posting of these batches takes a long time.
  • Ability to import and attach invoice copies is cumbersome and there is no option for 3rd party software such as PaperSave to accommodate this.
  • The system should be able to identify duplicate invoice numbers within a vendor, not within a batch where you might have several different vendors with the same type of invoice naming. If you are not careful you will append invoices to other vendors activity.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Bank Reconciliations
  • Financial Statement Flexibility
  • Memorized Transactions for consistency
  • Report development can be challenging
  • Ability to hide abandoned zero balance accounts from the COA
  • Better Budget vs. Actual reporting
Score 7 out of 10
Vetted Review
Verified User
Incentivized
  • MIP does segments well. We can delineate between locations as well as programs to provide detailed reporting.
  • It is very simple to use and easy to learn.
  • We have alot of functionality with a small and simple chart of accounts.
  • For Canada, we would have loved to integrate a payroll module.
  • MIP does not calculate HST, so we have to do it manually.
  • MIP's report design function is not user-friendly for accountants.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • It creates combined financial statements for the AKA Corporate Office and all 10 Regions.
  • It creates detailed general ledger reports very easily.
  • It allows information to be downloaded from other systems.
  • I currently do not have any problems with the design of the system.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Account payable is good.
  • Changes to accounts and general ledge has to be done properly. Nothing can be deleted, so there is always a paper trail.
  • Reports can be created any way they are needed.
  • The reports are very complicated to create, maybe a wizard would help. I always take the default and just modify it to get what I need.
  • The partnership with Aatrix for the payroll taxes needs to be improved. The reports don't always update properly. You have to download manually. It just seems like an afterthought.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Overall, the program is easy to use and provides, reliability, flexibility, and scalability. In addition, Abila provides multiple support options.
  • The Allocation feature allows the user to easily spread shared costs like rent or utilities to all the programs that benefit from the cost.
  • The reporting module comes with many useful templates and is flexible for customizing a variety of reports.
  • We sometimes have issues with the Encumbrance module with the liquidation process in that it can be difficult to zero out the encumbrance.
  • We are having trouble with the auto notification feature in the Electronic Requisition module. We keep receiving an error and MIP support is yet to figure out a solution.
  • Old Program (fund) codes can be difficult to delete.
March 24, 2021

Meh

Score 2 out of 10
Vetted Review
Verified User
Incentivized
  • Support center is great.
  • Lack of free trainings.
  • Hard to use.
  • Redundant features.
March 23, 2021

Trusty System

Score 7 out of 10
Vetted Review
Verified User
Incentivized
  • Reliability.
  • Doesn't change.
  • Support is great.
  • Font size is too small and not adjustable.
  • Organized poorly for ease of training. Try explaining the difference between Transactions and Activities to a new employee!
  • Inability to archive old records is a real problem for us. Why should we have to pay an outside entity?
  • Inability to fully remove inactive codes from the tables. Admins should be able to edit/remove codes on the tables.
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