MIP is a great fund-accounting software program.
We use MIP Fund Accounting, not only for our daily operations, but for payroll and human resources. We utilize most of the functions …
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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MIP Fund Accounting Review: Serves As A Customizable Accounting Solution Software
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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'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.
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MIP Fund Accounting Technical Details
| Deployment Types | On-premise, Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Windows |
| Mobile Application | No |
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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March 26, 2022
Abila Review Solutions
We use it for our general ledger systems - accounting, accounts payable, fixed assets, budgeting, grants management, cash receipts posting. We also use the bank reconciliation module for bank reconciliations. We have 10 users using various modules in the MIP Fund Accounting systems. We have also included our subsidiary company and consolidated the monthly financial statements. We are planning to include the payroll systems and automate postings to the general ledger. Currently, we are using Excel spreadsheets to prepare journals for posting to the general ledger.
- Accounting - monthly reports are generally easy to produce
- Fixed assets module integration with the general ledger
- General ledger postings
- Budgeting module could be improved to make it easier
March 26, 2022
MIP Fund Accounting Software Review
We use MIP for our GL, AR, AP, and Depreciation. Our past software had been used for over two decades and while easy to use, it was limited in how we could pull data from the system to use. MIP is a true fund accounting software. The reporting features are wonderful and fully customizable. Further, the data can be pulled directly into Excel for further analysis. I have not used MIP Fund Accounting very long, however, it is easy to pick up. Like any new software, I recommend taking advantage of the training that is offered. After completing the training the software becomes very intuitive and easy to use.
- Developing reports with the data you need in a useful format.
- Drill down features
- Easy to follow step progression for AP and AR clerks to follow
- Help menu's are very helpful and easy to find what you need
- Report Manager from the left side menus is cumbersome to navigate
March 26, 2022
Must Use
MIP Fund Accounting is our general ledger software. The product address the problems of elimination of physical checks to electronic funds transfer. The ease of uploading data into software is flawless and a quick process. Software is a lot easier to navigate and run reports virus other ones on the market.
- Bank Reconciliation
- Reports
- Data Inputting
- Payroll Processing
- More icons
March 25, 2022
Satisfied
We use MIP Fund Accounting for bookkeeping and financial reporting for grants. MIP Fund Accounting allows for the management of cross-fiscal year reporting. As a non-profit organization, we have multi-layered funding and MIP Fund Accounting's distribution codes allow for accurate and efficient allocation across the many funds we have. MIP Fund Accounting also offers very customizable financial reports.
- 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
March 25, 2022
MIP - Imperfect But Usable
We use MIP for accounting.
- 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
My main function in MIP is running GL activity and reviewing details and transactions that have gone through as well as running financials and grant reporting on a monthly, quarterly and annual basis. I have also done a little in the AP and AR section as a staff has been out of the office. Our agency also utilizes the Fixed Assets and Allocations modules.
- 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.
We use it in our Business Office - 3 users. We used it for GL and AP and create reports, export them to excel. We also do all budgeting using MIP.
- 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
I am the only person in my organization who uses MIP, as the only accountant on the team. I use MIP for accounts payable, accounting reports and monthly bank reconciliation. Our donations and payroll are imported into MIP from other software, which saves time and maintains accuracy.
MIP allows me to customize reports to share with my team. It allows me to quickly adjust a report to the detail level I may need depending on who I share the information with. The PDF report downloads are professional when sending out data and the Excel report allows me to search through large data.
MIP allows me to customize reports to share with my team. It allows me to quickly adjust a report to the detail level I may need depending on who I share the information with. The PDF report downloads are professional when sending out data and the Excel report allows me to search through large data.
- 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.
August 03, 2021
MIP Fund Accounting review
The accountants in our organization use MIP to manage our accounting data, cut payables, and import donations. We use it for our monthly bank reconciliations. In our organization, our accounting managers are the only users of MIP. There are two of us, but I am part-time entering retirement so the other accounting manager uses it the most.
- 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.
July 28, 2021
Looking for a user friendly software? Go with MIP
We use MIP Fund Accounting to track more than 1,500 organizations by using the fund, source, group, and program code. MIP Fund Accounting is very good at tracking all these organizations; however, due to access, the 1,500 organizations can't access this software to track the financial number. Our side has to do an additional uploading [of] the BDs, CRs, APs, and any JVs numbers to our other software platform [so] that these organizations can see the ins and outs on their financial number.
- 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.
July 27, 2021
MIP Fund Accounting Rock Star
We currently use MIP Fund Accounting for all Financial and HR functions. We are currently implementing EWS for our timesheets. By using it for both Finance and HR, we decrease double entry that would happen without it. We are also able to create a financial packet for our Board. Both of these reasons alone, save us a ton of time.
- 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.
We use MIP Fund Accounting for all accounting functions for the organization including GL, AP, AR, Budgeting, Fixed Assets, Allocations and all forms of reporting. We maintain an accounting department of four users, including myself. This system is particularly helpful in managing grant level accounting for compliance and reporting. The report writing and drill down capabilities of the system are very user friendly and helpful.
- 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.
I have many clients in the not-for-profit arena and fund and contract accounting is a huge part of their operations. MIP is the defacto leader in this area. Some clients use it right out of the box, just in the finance offices. Others, generally larger organizations, take advantage of integration capabilities, both inherent and developed by my organization to automate labor intensive reporting and data input task.
- 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 21, 2021
MIP Fund Accounting is very intuitive!
Currently, MIP Fund Accounting is being used by our Finance department, which is made up of general accounting, along with payment analysts as we provide funding to local residents in need. MIP Fund Accounting is used to keep all financial records for our organization, specifically how we are funded, how those funds are allocated across various programs and the associated employees, and how those funds are passed along to local residents in need.
- User Support
- Administrative Tasks
- Intuitive Menus and Functionality
- Ease of diagnosis when something breaks
- Project management of data migrations/upgrades
- Number of software updates
July 04, 2021
Great value
We use MIP Fund Accounting only in the finance office of our school. Each one of our departments must create and maintain their own budget and MIP helps us to create the proper reports to allow those individuals to accomplish this.
- 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
MIP is being used by our accounting department to manage accounts payable, budgets, and financial reporting. It addresses our need for flexible coding and reporting, due to the segment structure, as opposed to set strings of coding. It allows us to easily report out on several different contracts within different contract periods.
- 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.
June 12, 2021
Good, but not user friendly
MIP Fund Accounting is being used for bookkeeping purposes across our organization. It allows us to keep track of donations, grants, fundraising events, and take care of audits & other accounting purposes. It is used mainly by our accounting department, but reports are consistently sent to development, marketing, and on the executive level.
- Donation Tracking Slips
- Reports
- It is difficult to make changes to past records/reconcile.
- Not user friendly if you have quick employee turnaround.
May 27, 2021
MIP Fun Accounting
At this time, MIP Fund Accounting is being used by the accounting department but in the near future we will be adding time-sheets and HR module to our group of modules already owned. It has reports that are easily produced for other staff, and our Board Member Trustees. The steps for each process are user friendly.
- Financial reports.
- Payroll processing.
- Accounts payables & receivables.
- Would like to see budgeting module made easier.
- Active or inactive vendors.
April 28, 2021
Great Product - Extreme Flexibility
[MIP Fund Accounting] provides the books of record for our organization. We have developed our organization to have reporting for Departments, Programs, Grants, and tracking if gifts have restriction or not. It provides the necessary analysis tools for our Non-Profit Organization.
- 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
April 28, 2021
Great product for charities and NPOs
MIP is our finance application. It ties in with our donor database, FR50. It is used for the entire organization for budgeting and reporting. It is working very well to support reporting for government grants, donor requirements, and board and leadership decision-making.
- 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.
April 13, 2021
Love that I can count on MIP to be user-friendly!
My ministry, City Gospel Mission, uses MIP Fund Accounting to efficiently enter all our donations and pay our bills. I truly appreciate that the basic look of MIP doesn't change even as upgrades are implemented. I'm an older user and it drives me crazy when technology upgrades but I can't figure out how to do it the "new and improved way." MIP has always been very user-friendly and has helped grow our ministry from a $2 million dollar organization when I first came on board to over an $8 million dollar budget today. In a previous position, I used Peachtree and feel MIP is better.
- Very user-friendly.
- Looks the same even when changes are implemented.
- Reporting is easy.
April 13, 2021
CFO very impressed with MIP Fund Accounting Software.
MIP Fund Accounting is being used by the Alpha Kappa Alpha Sorority Corporate Office and for all 10 Regions.<br><br>It allows us to use Fund Accounting to account for our revenues and expenses. It has assisted us in getting clean audit opinions over the last eight years.
- 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.
April 13, 2021
MIP is a great buy and I highly recommend.
It is being used for all of our payroll and accounting systems. Being a nonprofit that is federally and state funded, we must have a secure program that can track each grant separately. It was recommended by our auditors and several other Area Agencies use it as well.
- Budgets.
- Tracking grant expenses.
- Payroll.
- Benefits.
- It needs an alert if a document or JE number has already been used.
March 31, 2021
Fund Accounting - good and bad
We use MIP Fund Accounting across the entire company. We use it for general ledger, accounts payable, and payroll.
- 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.
March 29, 2021
Powerful software to meet your Non-Profit needs.
We currently use MIP Fund Accounting for Financial Reporting, Accounts Payable, EFT, Bank Reconciliation, Allocations, Budget, Encumbrances, and Electronic Requisitions. The program is primarily used by the Finance Department, however the Electronic Requisition module [is] used throughout the organization. Our agency receives a number of Federal, State, County, and Local grants and contracts. MIP allows us to track revenue and costs per fund and to easily allocate shared costs across multiple funds.
- 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.