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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 277)
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Score 10 out of 10
Vetted Review
Verified User
Incentivized
We have approximately 25 funds that we utilize with MIP. We receive revenue from over 9 different funding sources. We are able to keep each fund separate by year and source. MIP helps us track multiple funds by numbering each fund by year. This process allows us to close out a certain year and start a new one seamlessly.
Yelena Novik | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Again, as mentioned above MIP gives an opportunity differentiate funds and programs and source and it's great. It creates order and understanding in the system as well as helps code, run reports, and analyze data. Our organization definitely achieved this benefit, using MIP from year 2007. At first everybody compared the MIP to QuickBooks and the last one was simpler and more understandable. But learning MIP Fund Accounting through the years, it was obvious that the move to MIP was very right and on time.
June 05, 2023

Abilia MIP Review

Score 8 out of 10
Vetted Review
Verified User
Incentivized
Yes, we have different funding sources for different grants. We are able to track individual [grants] and create easy reports that each funding source requires as well as maintain the overall reporting structure for the entire organization.
Donavan Lam, CPA | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User
Incentivized
Yes MIP has allowed us to do that very effectively. We have over 50 funding sources that needs to be tracked annually. MIP allows us to track the expenses properly in addition to ensuring the reporting is being done in a timely manner. The Accounts Receivable module has made our reconciliation process very efficient especially with our large funding portfolio.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Yes, our organization has acheived this benefit. There are multiple funds used and all are integrated for across the board financials. Funds can be combined or separated to get a financial picture of either the fund individually, or for the partnership as a whole. This has allowed us to better inform the board when presenting financials.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Yes, we have achieved this benefit. We have our general bank account and four different endowments. We receive various monies each month, whether it be monthly donations from alumni, a one-time gift to one of our endowment funds, a reimbursement transfer from friends overseas, etc. No matter what it is we are tracking--entering payroll each month, tracking our endowment funds, paying bills--it helps us keep everything organized.
Wesley Bond | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
MIP is very flexible and can be customized to your specific industry and needs. Would work well for a medium sized non-profit for tracking multiple funds and sources. And any module you buy for MIP was actually developed by them so it doesn't end up a hodge podge mess like other competitors. It has allowed us to customize everything based on our needs from managing funds to sources.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Yes, we have multiple sources of funds within our organization and the benefit is tremendous and now we are able to track these funds. The reporting by fund is intuitive and creates a very seamless process. We are able to create income statements and balance sheets by fund type and use this for making management decisions within our organization.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We have multiple programs and multiple funding sources. We also have multiple sites, many with shared aspects. MIP is able to address these with ease through their distribution codes that we heavily utilize.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Our organization has achieved the benefit of managing multiple funds from multiple sources. Currently we have 28 different funds that we manage, with a few more coming down the pike. To date, we've had 118 different funds tracked within our system. Another benefit is having access to customer support. MIP support team is easy to access whether online through the knowledge base, through the system's help feature, or by calling and talking to support staff. MIP makes it easy to access information - if you aren't sure how to do something it is easy to find out how.
Tony Lamm | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We are currently able to track funds from multiple sources. Our major improvement to the software would be to have better reporting of the customers. The current system does not allow for printing of something as simple as labels, nor the ability to produce an email integration into sending to existing customers.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
This has been our primary reason for using MIP. The fact that all transactions can be coded to reflect funding streams, department, etc., makes this reasonably doable.
August 12, 2020

Newbie's Review

Score 9 out of 10
Vetted Review
Verified User
Incentivized
As a non-profit, we receive grant money that has to be tracked very closely. Each grant has its own code so it can be tracked from receipt to use - with the balance remaining easy to retrieve before purchases are made; departments receiving grant funds can get the information they need for budgeting quickly and accurately.
August 11, 2020

Abila - One Stop Shop

Chanette Oeser | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User
Incentivized
We do not have a current need for multiple funds tracking at the current time. It may have been used previously, but since our government funding has changed it is no longer necessary for us. We have gone from primarily Grant funding to Fee for Service funding making the need for multiple funds obsolete.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
As an accounts payable accountant, I think that MIP Fund Accounting does allow the ability to manage multiple funds from multiple sources in a time-saving, efficient manner. For A/P purposes, the ability to see what the budget staff recommends in terms of fund coding, which often includes a combination of fund types, by the time the invoice is ready to be paid allows the accounting staff to compare funding sources for the payment.
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