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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Meet MIP Fund Accounting
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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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April 12, 2024
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 offered with the software and find that they are user friendly. MIP Fund Accounting is easy for even our newest employees to understand. This software is a huge assist to our company. When an issue arises we contact MIP support and have an answer in a short amount of time. The staff is very friendly and professional.
- Allowing reports to be exported into a PDF or Excel worksheet is very beneficial when presenting to our board.
- Emailing a report to a funding source without having to print it out and scan is very smooth and helps when you are in a hurry.
- The ability to filter for the exact item(s) that you need help when auditors need verification of those exact details. This is valuable for helping our department locate those areas that need explanation as well.
- The ability to set dates in the organization preferences so that others do not enter a wrong date by accident.
- It would be helpful to locate an item when we are given a check number rather than the name on the check.
- When we process our payroll we have to manually remove extra coding so that our salaries are not all over the general ledger. It would be nice if there were a better way for this function to be eliminated.
- It would be great if the process for using Atrix was smoother. We have issues almost every year for one reason or another.
April 11, 2024
My opinion and words about MIP!
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
February 27, 2024
Use of MIP Fund for Your Finance Team
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
February 26, 2024
MIP Fund Accounting Was Worth the Wait
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.
February 24, 2024
MIP Review 2023
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
February 23, 2024
MIP Great Software for Non-Profits
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
February 23, 2024
MIP Pros and cons of the Financial System.
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.
February 23, 2024
MIP in the Open
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.
February 06, 2024
MIP Fund Accounting's templates for AR and AP have been helpful
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.
August 17, 2023
Stable, Secure with no Surprises!
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.
June 13, 2023
Abila/MIP as everyday help in non-profit accounting
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.
June 05, 2023
Abilia MIP Review
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
June 05, 2023
Highly recommend
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.
June 03, 2023
MIP users' experience
Currently it is being used by Fiscal Department only.
- Bank reconciliation.
- General ledger analysis.
- Reporting.
- Budgeting.
- Custom reports.
June 03, 2023
Abila - a great segment reporting tool.
MIP is currently being utilized by the finance department to facilitate the day to day accounting needs of the organization. It helps the organization address our fund accounting needs in addition to fostering an environment of proper nonprofit accounting and reporting. MIP is currently being used for Accounts Payable, Accounts Receivable, Journal Voucher Transactions, an other day to day accounting needs.
- The flexibility of the segmented chart of accounts allow for the user to design the chart of accounts based on the organization needs. A well designed chart of accounts allow for reliable reports with detailed cost structures to track and analyze multiple funding sources.
- The importing features allow for very efficient entries of high volume journal entries and minimize mistakes.
- The system itself is very user friendly and the design/layout of the system is highly intuitive.
- The reporting features can use some improvements for ease of use and more functionality.
- I feel that if Drillpoint reports can be integrated with the Scheduler Module, it would make reporting and data manipulation even better.
- Some improvements within the budgeting module is also highly desirable.
June 01, 2023
MIP Fund Accounting Review
MIP Fund Accounting is our accounting system of record for recording transactions for GAAP compliance and used for day-to-day accounting / business operations. It is also used to access data for reporting for either actual data or projection data for scenario planning / analysis. It is used only by the Finance department.
- Availability of multiple segments for needed reporting functionality
- Allocation module for automation of transactions
- Free-form nature of MIP to design things as needed for your organization
- It's not user-friendly. Could use a major user-interface overhaul
- Learning curve is high.
- MIP suggests using an outside app, Drillpoint, for its reporting. Its own reporting should be sufficient, but it is not.
- The open-ended nature of MIP can lead to mistakes, such as reports not being designed properly, or leaving data out of reports.
May 03, 2023
Positive
I am in the Finance Department and record all the General Ledger entries. Complete all the Balance Sheet reconciliation. Print reports to do all reconciliation.
- Fixed Assets
- General Ledger Information
- Reports
- Trying to understand Dates for the reports
- Determin what dates work to give you the correct information.
April 25, 2023
MIP Does the Job
We are a non-profit administering mostly government grants. We use it for tracking payroll and other expenses, and creating invoices to expend grant funding and financial reports for our board of directors.
- Financial Reports
- General Ledger Accounting
- Decent user support
- HR Module - need to format more timesheets for hourly employees to enter actual ins and outs as California law is now requiring this.
- More intuitive menus
- Easier ways to correct errors
April 19, 2023
MIP Reporting is second to none.
MIP allows us to streamline our accounting and finance with our upper Financial Services and Tax Consultants. The reporting features are fabulous. The general accounting entries and payroll functions are easy to use. I have used other payroll and accounting software in the past and this is one of the easiest programs I have found. We have two locations reviewing our accounting and if I make a change, the other location can review the change in real-time. MIP is fantastic.
- Reporting
- Payroll
- Bank Reconciliation
- Accounts Payable
- Accounts Receivable
- Journal Entries
- No edit functions, which is necessary for documentation purposes
MIP Fund Accounting addresses the specific needs of nonprofit organizations which includes tracking and reporting on individual funds from multiple sources in a manner to comply with the Financial Accounting Standards Board (FASB), generally accepted accounting principles (GAAP), and other specific reporting requirements for federal, state or local government entities.
- Tracking multiple houses under one fund
- Restrictions for donations
- Budget line items broken out by administration and program support
- Payroll documents are uploaded and encrypted
December 08, 2022
Great product that is easily customizable.
We use MIP Fund Accounting to manage our local HRA and also our company, which is an economic development organization. We use it for AP, AR, GL, fixed assets, etc. MIP is able to provide the level of detail that we need and that our Boards need to make smart decisions for our companies. We are able to get accurate and complete reports and edit them to show the information we need.
- Able to provide true fund accounting.
- Excellent reporting options.
- Manage our fixed assets.
- Would like to see all the same options in the cloud module that are in the original module and vice versa.
- A/R is a bit clumsy, too many steps.
November 21, 2022
Good Product for the Money
We use MIP Fund Accounting's GL, A/P, bank recs, budgeting, and reporting. We process employee reimbursements using the EFT module and are looking at doing this for some of our key vendors. The GL is easy to use and there is the save entry feature, which is nice because I have a lot of monthly entries that I don't have to key in all the time. I also like the reverse and copy option in the GL as well as it saves time. We run monthly revenue and expenditure reports for our budget leaders to manage their projects, making sure their projects are spending the way they should.
- GL format is easy to enter in.
- System is user-friendly.
- You are able to drill down to transaction level.
- Reporting could be more robust.
- Encumbrance could be easier to use.
- No workflow for invoice approval.
September 19, 2022
MIP Fund Accounting Review
We use MIP Fund Accounting for all agency accounting processes, including accounts payable, accounts receivable, general ledger, and payroll.
- source accounting
- payroll
- general ledger detail reporting
- cross reference of accounts payable document number to check number in some reports
September 19, 2022
MIP -Workhorse Financial System
Annual budgeting, financial reporting with comparison to budget, variance analysis, nonprofit grant expenditure tracking, accounts payable
- general ledger
- Accounts payable
- Financial statements
- Bank reconciliations suspense items
- Transaction data entry could be simplified to allow copy and paste, inserting lines
September 13, 2022
MIP is good if you know how to use it.
We use MIP to enter invoices, AR invoices to send to customers, journal vouchers, reconcile cash and ledgers, issue checks, and maintain vendors and 1099 vendors and reporting.
- allowing the breakdown between multiple departments, jobs, units, etc.
- Robust reporting.
- Catching duplicate invoices.
- It is not user friendly - not intuitive.
- Reports are difficult to build on their own.
- The knowledgebase is very difficult to navigate - it's very difficult to find answers to questions - I always have to chat or call to find the answers to my questions.