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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

(820)

Attribute Ratings

Reviews

(1-25 of 430)
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Score 8 out of 10
Vetted Review
Verified User
Incentivized
MIP Fund Accounting is used for daily cash management activities including Payroll, Bank Reconciliations, General Ledger, Accounts Payable. I do not know that I can actually name a business "problem" that the software addresses per se, as use it for day-to-day accounting activities. I really like many aspects of MIP, but also feel, as someone coming from other accounting software which I taught myself to use, MIP is somewhat user "un"friendly. I feel that it is difficult to learn and seems that it could be more user friendly without so many steps to go thru to attain a goal of cash management for a non-profit!
  • 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!
  • I feel that there are too many ways to pull necessary reports
  • I feel that it would be easier to pull reports that are somewhat more streamlined or easier to edit
  • I would love to be able to pull an "audit trail" as I have with past software that was easy to pull and easy to obtain info froml
  • I do not like that the software has to have so much printing information set up to save paper when pulling reports
I do like the check register, it is easy to access. It is also easy to access information for bank reconciliations but some entries are difficult and I have had ongoing issues with duplicated entries. Those situations coming at times when I am not really sure how I have duplicated an entry and they are somewhat intimidating. It is also somewhat difficult to delete or void erroneous entries or those that need to be otherwise corrected. I do understand that it is accounting software, but feel again that it could be a little bit more user friendly, at least from a fairly "new" user's standpoint!
Score 7 out of 10
Vetted Review
Verified User
Incentivized
MIP Fund Accounting primarily is used in my role for budgeting and developing reports on expenses and receivables. This product also allows myself to create a chart of account and make editions throughout the year. Business problems this product helps with are yearly operating budgets that we can develop, track daily to yearly expenses, show an overview of revenue captured, and allow the organization to better interpret its expenses and revenue through the year.
  • Budget Worksheets
  • Development of reports
  • Provides two version - MIP Cloud and Older Version to utilize
  • Provide accurate reporting and easy to use templates on their cloud
  • Developing simple grant budgets that align with each grant
  • Simplify budget development. Budget Worksheets are great but challenge to develop
  • Can Manage Recurring Entries be performed on the Cloud easier
I think overall the program is developed to be a bit user-friendly in most areas by providing layouts on dashboards, creating source codes for chart of accounts, and reporting on finances. It would be a bit beneficial if it can be a bit more compatible with payroll software systems through integration.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We use MIP Fund Accounting in are organization that goes with our Microx system. This is how we display and move money around. It is a very valuable tool. It allows us to see financial ledgers and detail of spending. it also gives you the ability to run reports and check balances.
  • Shows financial detail.
  • Run financial reports!
  • Posting in MIP allows Microx to move forward.
For my organization it allows to keep track of money spending and where you budget amounts are at. We take things in are Microx and post them in MIP Fund Accounting so it allows the issuer to move forward in a complete movement with billings and purchases. We also can run reports to see what still needs to happen to keep financials moving.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
MIP Fund Accounting has brought us into the 21st century! Not only is the accounting module intuitive and user friendly, but the way it integrates with the other modules has streamlined many of our processes with Purchasing, Inventory, Ordering, Payroll, and even HR. It's well worth the investment for an efficient work environment.
  • Intuitive
  • User Friendly
  • Descriptive Set Up
  • HR Mod needs a facelift (I know it's coming!)
  • Better Training materials.
As a bigger organization with very antiquated software going into the transition, the setup with MIP Fund Accounting has been grueling. We also have more exceptions than rules - so while I'm happy for the transition, we weren't ready for the amount of work it took.
February 26, 2024

Excellence of Execution

Score 8 out of 10
Vetted Review
Verified User
Incentivized
We use MIP Fund Accounting for all of our accounting functions. We pay bills and receive funds through it. We also track fixed assets and our purchases through MIP Fund Accounting. W2, 1095, 1099 are all produced as well as our payroll operations for the company. We do not currently use the program for HR functions, but our HR does use the payroll module for the work they need to do. MIP Fund Accounting helps us to retain all of our information in one place. Before the company used ledger books to attempt to keep up and it did not go well.
  • Easy to access data from any previous year.
  • The system is quick with inputs of information, no lag.
  • It really makes tracking of expenses much easier with PO module.
  • Payroll input is quick as easy.
  • 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.
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.
February 24, 2024

MIP Review 2023

Score 10 out of 10
Vetted Review
Verified User
Incentivized
I login into MIP Fund Accounting to order supplies for my department. I use it to order Staples, Waxie, Mckesson, and Charm-Tex. I have to place an order through MIP Fund Accounting, and then my Manager receives a message to approve the order. I keep track of my orders, and so does accoutning.
  • Track Items
  • User friendly
  • Easy to Navigate
  • I feel that the look could be more appealing with more color once you login
Appropriate for accounting/Nonprofit
Score 10 out of 10
Vetted Review
Verified User
Incentivized
I use MIP Fund Accounting to process accounts payable, journal entries, generate vendor and payroll reports. We are nonprofit for workforce development; we sponsor our clients with short training and financial help to pay for training expenses. MIP allows me to run reports to see the exact amount that we have spent on each client. In the past this was an issue being able to get the total money spent on a specific client or grant, with MIP it is easy and user friendly to run a report to get this information.
  • Accounts Payable
  • Accounts Receivable
  • Journal entries
  • Processing Payroll using HR Management and EWS
  • End of the year W-2's and W-9's
  • Building Reports
  • to be able to process more personalize reports to generate information
When processing AP, the program settings are easy to follow for data entry. Same thing with processing Journal Entries

When Building reports, is not very using friendly but it is not impossible either. It just takes a while to get the system to do or process the report using the correct fields.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
We use the MIP accounting system to record items in the general ledger - accounts payable and receivables - to form financial statements. Enter journal entries - cash receipts/disbursements. We enter all assets. At the end of the month, prepare the depreciation. We join the payroll from ADP into MIP through the GL interface, a very reliable system.
  • Easy to do journal entries.
  • Easy to pay bills.
  • Easy to enter assets.
  • Would like to see a preview of entries in the bank reconciliation before posting.
MIP is suited for preparing financials and making it easy to see the financial outcome the way you want. It is not fit for the bank reconciliation module - I would like to see how it will pan out in the reconciliation before posting it.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
In my organization, we use MIP Fund Accounting to input invoices. Using this application is crucial for all sizes as it streamlines financial processing, enhances accuracy, and provides valuable insights. The only problem with MIP Fund Accounting is that, at times, it can become slow. When trying to work fast within my organization, time is of the essence.
  • Easy to maneuver.
  • Quick shortcuts.
  • Readable font.
  • Slow processing.
  • Slow transition.
When trying to process an invoice with the MIP Fund Accounting program, it has some bugs. The processing is slow at times when trying to process. If the application becomes too overwhelmed, it will automatically close the application.
February 23, 2024

MIP in the Open

Score 10 out of 10
Vetted Review
Verified User
Incentivized
MIP Fund Accounting is used by the whole organization for department and overall reporting as well as compliance reporting. It was purchased to allow for reporting by cost allocation to multiple cost centers, including both internal departments and grants. The major benefit is that it allows a large number and multiple levels of cost centers and programs.
  • Cost allocation. Allows great flexibility in the setup of cost pools and receipient centers.
  • Multiple dimension coding structure. Allows complex accounting setups for multi-faceted organizations.
  • Reporting. Allows many different report configurations.
  • Exporting. Ease of exporting reports to PDF and Excel formats.
  • Importing. We now import payroll files from a payroll provider.
  • Bank reconciliation. Exceptionally outdated and inefficient process for clearing checks.
  • Accounts payable. New vendor setup process could be so much easier, especially for vendors who are already employees.
  • Credit card puchases. Badly needs improved functionality in the posting of transactions to actual vendors.
  • The import process needs to be made more intuitive.
Do you need a lot of cost centers and coding dimensions? MIP Fund Accounting does this well.
February 22, 2024

My Review

Penelope Mary Jefferson | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
MIP records all incoming and outgoing expenses. For grant reporting, I am able to generate financial reports. on a daily basis - I use MIP to generate financial reports such as - revenue and expenses by period.
  • Well organized financial data for review
  • Generates clean organized financial reports.
  • Can create different outlooks of expense and revenue
  • More how to guidance
  • More training conferences
When I first used MIP - I was not rushed - MIP provides consistency
February 16, 2024

Outstanding Software!

Score 10 out of 10
Vetted Review
Verified User
Incentivized
MIP Fund Accounting assists our organization in tracking and managing expenses and receivables on a daily basis. MIP assists us in tracking our open receivables with the very useful A/R aging reports. On the Payables side we create and send out a decent number of checks to pay invoices each month and the system assist us in tracking and maintaining that AP activity. We also rely heavily on the A/P aging reports for tracking. The bank reconciliation module is also a great tool that we use to track our bank activity. Especially with the growing number of electronic fund transfer transactions.
  • Bank Reconciliations
  • Invoice Processing
  • A/R aging and tracking
  • Check printing settings
  • Graph and Chart Options
  • ADP data import
Well suited for everyday Journal Entries, Invoice entries and check processing. As the volume is increasing in the number of POs and invoices, we are processing on a monthly basis. It would be a huge help if we could connect to vendors electronically so that POs and Invoices could be automatically uploaded or scanned into the system. I would like to see improvements in the reports available including chart and graph options.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
MIP Fund Accounting is our Accounting system for 5 different funds. We use the GL and AP modules, with plans to use Fixed Assets and AR modules in the very near future. We have a third party payroll vendor, but have been able to use the Import feature of JEs to assist with monthly payroll activity.
  • Importing JEs
  • Importing Invoices
  • Review of TB with non-posted JEs
  • Cannot use the drill down function (in reports such as TB, FS) in Modern MIP.
  • Ability to run GL reports that have option to include check #s
  • Make report options easier to under - i.e. matching document # and document #
  • Ability to import cash receipts
I like the ability to run reports for one fund or multiple funds, the ability to use different checking accounts to pay invoices for different funds. The importing process has made month-end close much easier, except for the ability to import cash receipts. We have a template to import cash receipts, but it is too time-consuming to format the Excel template to allow for ease of importing.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
MIP Fund Accounting is used for the finance department at my organization. The program addresses the recording of financial activities for the organization. We strive to integrate all aspects of our business to utilize MIP Fund Accounting effectively.
  • Reports
  • Journal vouchers
  • Attach documents and notes
  • Transitioning from MIP Classic to MIP Cloud
  • Closing the year/having to switch from multi-user to single user
  • Wait times for calls - call back feature has connection issues
MIP Fund Accounting is well suited for program management, if utilized correctly. As a new user, the current program was not set up correctly and we are continuously learning new features of the program. It will take more time to develop an answer to this question.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
I use MIP Fund Accounting to prepare monthly financial statement, along with ledgers and trial balance. The templates for AR and AP have been helpful, allowing me to use softwares like Bill.com to import into MIP.
  • Importing templates
  • Easy to pull report
  • Allow users to delete information instead of correcting the GL entries.
  • Integrate better with big software like QB and Bill.com.
MIP Fund Accounting has helped me to pull better financial reports on a monthly and daily basis.
August 25, 2023

MIP Review

Score 9 out of 10
Vetted Review
Verified User
Incentivized
I use it to input all financial data and to prepare month and year-end financial reports
  • Reporting capabilities
  • Providing necessary fields for inputting data
  • Ability to upload documents
  • Opening transactions that have already been posted
  • MIP Cloud has lots of glitches that make it frustrating to use
MIP is suitable because it has great reporting capability and we are easily able to track grants with it. I have no issues with the classic module but the cloud module is very glitchy - transactions get posted duplicate same with check runs I have had to call support multiple times because of issues in the cloud environment.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
We use MIP fund accounting to track our grant and contract expenditures. No other software was able to track to the level of detail that we need.
  • The flexibility to build and run reports to pull information over many different time periods for detailed Grant and contract expenditure tracking
  • Accounts payable set up and data entry very easy to use which makes it simple to train new employees
  • MIP customer service during the initial set up and over time has been very patient and helpful with the changes that we have had to incorporate.
  • I have many reports that I built in unposted general Ledger transactions that I want to copy into posted general ledger transactions. I would like there to be a easy way for me to do that without having to rebuild the reports.
  • I would like to be able to download reports to Excel that have formulas in them.
I use MIP for tracking all of our grant and contract expenditures so we can do our billings. Our strings are very complicated but work for us to produce many, many reports that we use for financial reporting.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
MIP Fund Accounting is used to consolidate billing and accounting data from 3 separate software programs. I could not imagine a more suitable program to do this. It boils everything down in a palatable form and is relatively easy to navigate. It took me minimal time to learn the program and get comfortable navigating it. There is a minimal learning curve, and not much can be undone, so any errors I happen to catch can be fixed with minimal stress.
  • Search queries for accounting/financial data to any specificity
  • Simplify data from three different software programs into one palatable system
  • Navigation all naturally makes sense
  • 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.
MIP Fund Accounting is well suited for compiling data from multiple sources into one digestible system. It is relatively straightforward to navigate. I have 3 billing software programs that I am responsible for bringing together for our CFO to make decisions, and follow GAAP, and MIP Fund Accounting is extremely suitable for that. I consider MIP Fund Accounting to be a bit too dense for smaller companies with little to no relative complexity to their financial/organizational structure.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We use MIP Fund Accounting for our organization's accounting record keeping. Including, but not limited to, manager reports, payroll imports, accounts receivable and payable and budgeting. It runs seamlessly with our hourly time reporting software.
  • Reporting formats
  • Original budgets
  • Accounts Payable
  • Some reports have glitches that I've submitted as issues but were never addressed.
  • Accounts Receivable platform sometimes has issues with reversing and reposting entries.
  • Budgets could be more user friendly when entering or making changes.
During our annual audits sometimes they ask for specific or new reports that I am able to easily build and quickly run for them. We purchased the fixed assets platform years ago and my coworker who tried to set it up and use it eventually gave up trying to make it work. That was also the case for the encumbrance module with a different coworker.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Abila MIP is a great accounting software program if you work in the FQHC world or where you have a ton of grants you have to keep track of. We use MIP to do our Budgets, Fixed Assets, Payables, GL, and Bank Reconciliations. We use Microix to link our payroll and PO Module to this system which makes it seamless. This program allows me to track my grants many ways so I stay compliant with the Federal Government. The system is easy to use and allows me to even scan in documents like invoices so I can retrieve them later on. This is just a really good system when set up and trained properly on it.
  • Fixed Asset Tracking
  • Tracking of Grants
  • Scanning in of documents
  • Budgeting
  • Can Improve on making the upload feature easier.
  • Needs to promote their stats function better
  • Having a built in payroll module would be nice as well.
I would recommend MIP to people working in the FQHC world as this system allows for you to track everything you need to pull financial reports out for HRSA and other government agencies. This software when set up correctly can also track your grants very well, help complete Table 8 of the UDS report, and does a great job for budgeting as well. The only knock on this program is creating upload files as it seems more complex than it needs to be.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
MIP supports our not for profit with an easy to use funding platform. We manage grants and funding with easy access and recording entries each month.
  • Allows for different funding sources to be set and managed
  • Easy to use general ledger and components
  • Report capability access by fund
  • Difficult to find help on your own in the help section. Easy of use in the help section.
  • Automatic session numbers generated by the system. This would provide more consistence in the ledgers along with easier lookup capability.
Very helpful to manage our business model with funding sources and allocation options. Easy to use general ledger and reporting.
Yelena Novik | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
MIP is used mostly in the accounting department, where we have a few users. It is also installed in one of biggest programs located separately from admin. But at this place it is not used much for now. Probably in the future MIP will be used there and in another programs as well.
  • Compared to QuickBooks MIP gives much more detailed options for coding.
  • The ability to code a transaction in details gives an opportunity to run different reports with detailed criteria.
  • I absolutely like service where I can enter my question online on the website and someone will contact me shortly.
  • Most problems resolve quickly over the phone and sometimes with the MIP professional going though the problem on the employee's computer.
  • I like reports that can be run in order to see the data entered in MIP.
  • Any info that looks like hidden could be found by running report with specific criteria, which is extremely valuable.
  • I specifically like a criterion where I can enter a word or two for the transaction description and find info I am looking for.
  • I would improve the look of the customer statement. For instance in QuickBooks there was number on the invoice and the number of the payment/check made that applied to the invoice and then the balance was shown after each payment made. With MIP, the invoice and payment is shown under the same invoice number with no balance after each payment, but with the balance at the end of the statement.
  • I would make the font bigger not only on the screen where I can click on ctrl+ to make it bigger, but also inside the session.
  • When printing checks, it shows the check number, then how many checks are going to be printed. If you are already on this screen and would like to change something, you can't. There should be an option to cancel printing checks.
  • If I enter a manual receivable invoice, it doesn't look like a receivable invoice in the group, it can only be printed as an un-posted or posted session report. Manual invoices are not included into historical invoices to be printed again.
I really like MIP and can see many positive and helpful things it offers in comparison to QuickBooks. As I haven't worked with other accounting software this is the only comparison I can make and it's definitely positive.

Would be nice to have info in the bigger phone. I mean in all the screens as on some screens I can do it by pressing ctr+ but on most screens it is impossible to increase font.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
A very reliable system to have. Once installed, like the TV Ads, you set it and forget it. It keeps running and making daily and periodic tasks a breeze.
  • Data entry using forms.
  • Work Flow: To make sure posting is complete.
  • Available resources: Support is EXCELLENT!
  • Security/Roles
  • Database: Easy to manage and update.
  • Reporting /printer management
  • User preferences/look and feel, user interface
  • Patches or update delivery and installation
One of the BEST accounting systems I have implemented and used. Better accounts management between the campus and auxiliary/3rd party. More if they too have MIP. Reliable connections, all the time. Up 99.99%
June 05, 2023

Abilia MIP Review

Score 8 out of 10
Vetted Review
Verified User
Incentivized
We are a non-profit membership association that also receives federal funding for training grants. We use MIP for the accounting of all functions of our organization, but it is most useful in the tracking of the seven different grants we currently have.
  • Allows for the separate tracking of funds
  • Great detailed reporting
  • Has been able to integrate additional modules for different organizations as they need them
  • Cumbersome in entering all the detail, but steps have been continuously made to improve efficiencies
  • Drill down of reporting
  • Reports are customizable, yet formatting is not helpful when you transfer to Excel
Hard question to answer. Currently, MIP is well suited for my organization in being able to track our grants by separate funding sources, yet fluid enough to let me determine the reports I need to prepare as an individual or for the entire organization as a whole.
June 05, 2023

Highly recommend

Score 9 out of 10
Vetted Review
Verified User
Incentivized
We use all general ledger functions, AP, and grants management. It is used by fiscal department only, with view rights by CEO.
  • Versatile and flexible reporting
  • Ability to track and report by segment
  • AP integrates well with GL
  • It's not clear to a new user the sequence of AP (reports to be run) We created an internal checklist.
  • We have recently had issues with allocation calculations picking up prior month transactions that have already been processed, causing inaccurate calculation.
  • For voided checks, I would like to see an option to void and not reissue. (due to wrong vendor or entry error) We don't do this very often, but the only way I've found to eliminate the void is with an AP credit.
We have a fairly complex cost allocation process and MIP Fund Accounting works well to reduce the staff time needed. The ability to create customized reports is a big plus, especially for board requests and detailed reports by fund or grant or division.
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