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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

(819)

Attribute Ratings

Reviews

(76-100 of 429)
Companies can't remove reviews or game the system. Here's why
March 26, 2022

Must Use

Score 9 out of 10
Vetted Review
Verified User
Incentivized
MIP Fund Accounting software is best suited with entities that are midsize. Setting up reports process is very clunky and not really user friendly. Copying an existing report is an easy process. The program had a feature to see what processes were done in history to see if a process was completed.
March 25, 2022

Satisfied

Score 5 out of 10
Vetted Review
Verified User
Incentivized
MIP Fund Accounting is well suited for a cross-fiscal year reporting and allocating among multiple funding sources. MIP Fund Accounting also offers customizable financial reports. I feel the opportunities with those customizable reports are vastly underutilized by our organization. Transaction entry is a bit more cumbersome in MIP Fund Accounting than what I have seen with other products. It is not always the most user-friendly and not easy for self-taught employees.
March 23, 2022

MIP top notch service

Score 9 out of 10
Vetted Review
Verified User
Incentivized
There are multiple reasons MIP has worked well for our agency. One of the biggest is the ability to create multiple budgets to track for different grants we operate and report on. Fixed Assets module is probably the most difficult to maintain and operate, but being newer to the software this is the one that we have not learned as much on (working in software for the last 2 years).
Score 10 out of 10
Vetted Review
Verified User
Incentivized
As mentioned, for a non-profit, it is fantastic. I know there are other products out there for non-profits, many of which are exorbitantly expensive. I love how MIP gets better and better. When we were first with MIP some 18 or 19 years ago, it was great but did not do nearly what it does today. I wish I had had the time over the years to learn all the new features, but I did not. Still, I love it.
October 08, 2021

Simple and User Friendly

Score 10 out of 10
Vetted Review
Verified User
Incentivized
MIP is great when an organization has multiple departments. I am able to pinpoint exactly what department or event an expense was for because of the multiple options and layers to narrow down.

Reports customizations are great in order to produce an understandable summary of the data for non-accounting professionals. This would be suitable for organizations who have staff with limited accounting knowledge outside the accounting team.
Score 6 out of 10
Vetted Review
Verified User
Incentivized
MIP is good for organizations that break down data by multiple funds or departments. When looking at the GL report, it is easy to change the report to give the overall data for the GL line or dive into the detail by account or fund. MIP is good for organizations using multiple cash accounts. Since the AP line is connected to a specific cash account, it is accurate when using multiple cash accounts for payables. As long as the person loads the correct checks for the specific bank account, MIP puts it in the right place in the software.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
MIP Fund Accounting is definitely a must have for larger non-profit organizations. The system has thought of everything you need from financials for your Board, to timesheets, to HR. MIP Fund Accounting also provides revenue & expenditure and general ledger reports that are vital for us getting reimbursements from our grantors. I also love that my quarterly tax reports can be populated and completed right in the software.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
I have been eager to recommend this system to colleagues of smaller operations that are looking to expand or enhance their ability to grow and track costs adequately. I have been less likely to recommend to larger operations with establish[ed] systems.
Bob Simpson | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
MIP is best implemented where many sources of revenue are present and you wish to track expenses against those revenues. It is overkill for organizations with basic income and expense structures. When you find QB for non-profits can't service your needs, you should skip the intermediaries and jump to MIP. In the long run you will save money and suffer less aggravation with multiple accounting system conversions. I have worked with MIP since the DOS days and despite a few changes in ownership of MIP, the support, updates and quality of the product is outstanding.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
I think that MIP Fund Accounting is best suited when funding needs to be tracked very specifically, such as in the case where funding comes from many sources, funding is governed by laws that require very specific tracking, and/or funding is being distributed and allocated across many areas. It might not be as well-suited for simplicity, such as a single or static linear flow of funding.
July 04, 2021

Great value

Score 10 out of 10
Vetted Review
Verified User
Incentivized
We are a simple user, AP, AR and general journal entries - so MIP is very functional for us. There are times when we have an AP batch with vendor invoice with no number so we like to use the date of the invoice - MIP does not allow this though. It would be helpful if you could allow the same invoice number (as long as the vendor is different) in the same batch.
June 21, 2021

MIP for Me

Score 9 out of 10
Vetted Review
Verified User
Incentivized
We have a large number of funding pools that must be tracked and the flexibility of the coding segments allows us to easily capture any type of transaction and apply it to the appropriate fund. I did not consider us a particularly large company, but we do have a large number of vendors and I believe any larger than us would not be able to efficiently utilize MIP due to the batch size and posting restrictions.
Score 5 out of 10
Vetted Review
Verified User
Incentivized
I would recommend MIP Fund Accounting to small-medium organizations with experienced employees in using accounting software. For companies with new/younger staff, I would not recommend choosing MIP Fund Accounting. The software is not very user friendly/intuitive, but if used correctly, users can pull robust reports regarding specific funds or overall.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
With a knowledge base, I feel MIP [Fund Accounting] can be adapted to almost any industry. It's flexibility is amazing. You definitely need to work with a management partner who takes the time to understand your business and is willing to work with you to set up the most functional usage you can attain.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Last year, City Gospel Mission had an outside, professional accounting consulting firm evaluate MIP and their conclusion was that it was working well for our ministry. It seems very well-suited for our non-profit world needs. I'm not sure how it would work for other industries.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
MIP Fund Accounting is well suited for an environment where you have multiple funds to account for and multiple regions.

MIP Fund Accounting would be less appropriate in a For Profit environment.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
If you don't need to track multiple funding sources or need audit security, QuickBooks may be fine. The initial setup is very time consuming. And you have to set up the reports if you add an account or program.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
MIP Fund Accounting is well suited to incorporating a new fund into the organization. It is simple to add the general ledger codes needed, use the report templates, combine the fund with other funds as needed for organizational reporting. MIP Fund Accounting is less appropriate when trying to incorporate electronic signatures to an attached document in the Electronic Requisition module.
March 24, 2021

Meh

Score 2 out of 10
Vetted Review
Verified User
Incentivized
It's just hard to use. Granted, my company won't pay for training but there isn't a lot I can find on my own. Some of the basics should be pre-recorded and logged for free training for all. The documents for training are ok, but don't always have all of the information I'm looking for.
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