MIP Fund Accounting

MIP Fund Accounting

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Score 8.3 out of 100
Top Rated
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MIP Fund Accounting

Overview

Recent Reviews

Great product, great price

10
May 14, 2022
I use MIP Fund Accounting to manage the finances of a multi-county library system. I use the system for the whole cycle of business …

MIPleased!

8
May 14, 2022
We use MIP Fund Accounting for our HR and Accounting functions. We run a lot of reports using the MIP Fund Account. Sometimes the reports …
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Abilia for nonprofits

10
May 12, 2022
We use the product to track all financial activities in the nonprofit. We use accounts payable, accounts receivable, and the general …
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MIP is Adequate

2
May 02, 2022
It can handle multi-segment accounting strings and fund accounting.
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MIP know what it’s doing

10
April 29, 2022
I use it to control all accounting needs. I run payroll for 2 different company processing groups. It makes our finances easy so we can …

The good, the bad, and the ugly

2
April 27, 2022
We use MIP Fund Accounting daily as our primary tool to manage our accounts. We have approximately 50 active accounts at one time and …
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MIP Works for Non-Profits

10
April 08, 2022
We use it for our payables, our payroll, our receivables, reporting, budgeting. It's nice to have all aspects of accounting under the same …

MIP-one of our best choices!

10
April 06, 2022
MIP Fund Accounting is our sole accounting software from AP, AR, budgeting, and general ledger. It allows the use of grant tracking …

MIP for non-profit accounting

8
April 05, 2022
We are a non-profit organization, and we use MIP for our GL, AR, AP, fixed asset depreciation, and monthly allocation of shared costs. We …

Great for Grants!

10
March 30, 2022
Having a robust system of codes allows us to track the type of funding (federal, state, earned/private/other), restrictions, grants, …

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Awards

TrustRadius Award Top Rated 2022
TrustRadius Award Top Rated 2021
TrustRadius Best of Award, Best Of Feature Set 2021

Reviewer Pros & Cons

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Video Reviews

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Pricing

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Entry-level set up fee?

  • No setup fee
For the latest information on pricing, visithttps://www.mip.com/request…

Offerings

  • Free Trial
  • Free/Freemium Version
  • Premium Consulting / Integration Services

Starting price (does not include set up fee)

  • $249 per month

Features Scorecard

No scorecards have been submitted for this product yet..

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 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

MIP Advance™ Dashboards with drilldownMIP™ Transactions WorkflowMIP DashboardsMIP DashboardsMIP Dashboard drilldownMIP TransactionsMIP Budget WorksheetMIP ReportingMIP Audit Trail  and SecurityMIP PortalMIP Fund Accounting

MIP Fund Accounting Competitors

MIP Fund Accounting Technical Details

Deployment TypesOn-premise, SaaS
Operating SystemsWindows
Mobile ApplicationNo

Comparisons

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Frequently Asked Questions

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.

How much does MIP Fund Accounting cost?

MIP Fund Accounting starts at $249.

What is MIP Fund Accounting's best feature?

Reviewers rate Product Scalability highest, with a score of 10.

Who uses MIP Fund Accounting?

The most common users of MIP Fund Accounting are from Mid-sized Companies (51-1,000 employees) and the Non-profit Organization Management industry.

Reviews

(1-25 of 393)
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Score 10 out of 10
Vetted Review
Verified User
Review Source
MIP Fund Accounting is well suited for organizations with many funding sources and restrictions on how those funds can be used. The reporting is very customizable which makes it easy to design reports that answer grantor or donor questions. I do think the software requires a bit more accounting knowledge than some other systems I've used, but I do not find that a drawback.
May 14, 2022

MIPleased!

Score 8 out of 10
Vetted Review
Verified User
Review Source
Again, I think payroll is a very simple process. I also like that end-of-year tax forms (W2, 1095-C) are fairly easy to navigate through for processing.
Score 10 out of 10
Vetted Review
Verified User
Review Source
MIP Fund Accounting is well suited in the following ways: The ability to use the budgets module enables better planning, implementation, and monitoring of our various activities during the fiscal year. The Multicurrency module allows us to meet the requirements of our various donors who may request that reports be submitted to them in different currencies. In my opinion, MIP Fund Accounting may be less appropriate in the following ways: This software is most suitable for medium to large organizations with complex functions in order to utilize various modules adequately. There are a lot of small organizations that can utilize all or most of what this software offers. However, the cost can be a major factor when considering acquiring this software.
Score 10 out of 10
Vetted Review
Verified User
Review Source
Abilia works extremely well in grant accounting, cost center, and program reporting. Abilia is easy to drill down into the detail supporting individual accounts in a particular cost center or program. Abilia has good functionality in creating a billing system to easily prepare monthly tuition bills for individual school districts. Abilia also has robust fund accounting built into its financial system.
May 02, 2022

MIP is Adequate

Score 2 out of 10
Vetted Review
Verified User
Review Source
We have had difficulty getting information out of the system for our reporting and planning purposes. It's kept us pretty manual on anything outside of transaction recording.
Score 2 out of 10
Vetted Review
Verified User
Review Source
The product does allow flexibility to create as many funds as needed with varying start and end dates, which is very helpful when you have a multitude of grants with different start and end dates. Unfortunately, that flexibility results in a lot of extra work to complete routine accounting; journal entries that would normally take two lines take at least 6. And nothing is automated so all of the lines are completely manually entered which allows for human error and requires careful review. I have used a wide variety of accounting software programs and this is by far the worst I've ever used.
Joanne Jenkins | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Review Source
Entering payables is extremely easy and user-friendly. This leads to balancing the bank account being very easy to accomplish each month. I love the Cloud Version for looking up invoices that were paid and balancing out statements. So much easier to read and I like that you can customize the dates.
Score 10 out of 10
Vetted Review
Verified User
Review Source
It is well suited to non-profit accounting, with the UDF available to further code items as needed. It is especially applicable to the size of the agency we have (budget of 10M). The payroll and HR modules should be better suited to an agency size of ours (300 employees annually). We would love to have the payroll and HR modules so they would integrate straight to the GL but have determined the functionality is not robust enough for the agency and the turnover.
Douglas Gates | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Review Source
MIP is a great non-profit fund accounting software that is extremely functional, flexible, and affordable. There is newer software out there that has additional bells and whistles, but those all come with significant costs that may be prohibitive to many non-profit organizations both large and small.
March 30, 2022

Great for Grants!

Score 10 out of 10
Vetted Review
Verified User
Review Source
MIP Fund Accounting is great for any non-profit organization that needs to manage grants or multiple sources of funds. It can be a bit confusing for non-finance personnel so if an organization wants broader access, this program doesn't provide dashboards, charts, or things of that nature that help non-finance personnel easily visualize data.
Score 9 out of 10
Vetted Review
Verified User
Review Source
MIP is able to handle all accounting needs. They offer add-on modules to include payroll, eft payment, and other functions. I wouldn't recommend MIP for small enterprises with limited accounting needs, as it is an in-depth accounting program.
Brian York | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Review Source
If they are a small to medium non-profit it's an excellent fund accounting solution. It's cost-effective and relatively easy to use. Getting good advice about the setup is very important, it can be cumbersome if, for example, too many segments are set up. The out-of-the-box functionality can be enhanced through the purchase of additional modules, such as Payroll or Accounts Receivable.
Score 8 out of 10
Vetted Review
Verified User
Review Source
I have a background in using SAP, so I have a lot of experience with that product. While SAP established some of my expectations, that is a much more expensive product that isn't necessarily suited for a smaller business or non-profit. For the smaller, non-profit environment, MIP works quite well. So I would definitely recommend the product for a similar environment.
Score 8 out of 10
Vetted Review
Verified User
Review Source
It is a great program when a lot of detail is required for each transaction. It can be complicated if that extra detail is not needed though. I appreciate the various modules that are offered. Currently we don't use the cloud based platform although I expect that is in our future.
Score 10 out of 10
Vetted Review
Verified User
Review Source
MIP Fund Accounting is well suited for financial reporting at a detailed level with flexibility in report formats; combining various reporting units and reporting grants across multiple time periods. Budget development is not a feature of the software which could use the previous budgets as what-if scenarios to begin a new budgeting process.
Score 9 out of 10
Vetted Review
Verified User
Review Source
Importing our payroll allocation from an Excel spreadsheet is very efficient Most of our staff are allocated to different programs/grants, so using distribution codes is very helpful In MIP, you can't just go into a posted journal entry and make a revision. You have to reverse it and re-enter it correctly. Initially, this seems a bit tedious, but you get accustomed to it with time.
Score 9 out of 10
Vetted Review
Verified User
Review Source
MIP works well for not-for-profit or governmental accounting, with a focus on fund accounting and budget controls. The system allows to track costs and generate reports at various levels of authority, including fund, cost unit, program, object-level reporting. The system also allows soft closing without having to do actual year-end closing of the books.