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
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 operations, from budgeting to operating to reporting. The system is designed for organizations like mine, so it is easy to track and report on various grants and other special-purpose funding that we receive.
May 14, 2022

MIPleased!

Score 8 out of 10
Vetted Review
Verified User
Review Source
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 aren't completely accurate - some items are omitted.
Score 10 out of 10
Vetted Review
Verified User
Review Source
Currently, our organization use MIP fund Accounting for all our accounting and financial management needs. This product addresses needs such as managing fixed assets, the ability to report in multicurrency, and budgeting. For example, our organization is operated on an approved work plan and budget, and the budget module enables us to monitor our spending and produce reports such as variance analysis to assist in our forecasting, planning, and decision-making.
Score 10 out of 10
Vetted Review
Verified User
Review Source
We use the product to track all financial activities in the nonprofit. We use accounts payable, accounts receivable, and the general ledger package. We track our grants in Abila and have created financial statement reporting for our Board in Abilia. We use Abilia to prepare reporting for all our programs and cost centers. We recently moved to the cloud and purchased the budget module.
Larry Parish | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Review Source
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 focus on consumers. Also, our audits are extremely easy with all the different reports it runs. It’s really a foolproof way to do your finances.
Score 8 out of 10
Vetted Review
Verified User
Review Source
I have been using Abila for the last 3 years to keep the books for a Not for Profit organization consisting of 13 entities. The entities vary in scope from consulting to real estate. The software is very accommodating for not-for-profit accounting that consists of grants, budgeting, etc. The MIP Fund accounting software does not accommodate the real estate quite as well, simply because it is not made for it.
Joanne Jenkins | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Review Source
We use it for our payables, our payroll, our receivables, reporting, budgeting. It's nice to have all aspects of accounting under the same program, making reporting consistent. We recently moved to the Cloud (about 18 months ago). I like the Cloud, but am constantly kicked out of it and there seems to be no resolution for it. The classic version works 99.9% of the time and I am often using that over the Cloud version because it consistently stays available.
Score 10 out of 10
Vetted Review
Verified User
Review Source
MIP Fund Accounting is our sole accounting software from AP, AR, budgeting, and general ledger. It allows the use of grant tracking easily. It also allows an efficient method for tracking custodial funds (approx. 50+ checking accounts for individuals, approximately 25 shared accounts of those served) that are audited quarterly by the state agency. It also allows tracking of those persons' accounts that we bill for various expenses that the agency forwards the funding for (until reimbursed by either the individual or their funding source). These are essential tasks that require constant monitoring.
Score 8 out of 10
Vetted Review
Verified User
Review Source
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 also use it to create our annual operating budget. The reporting features are easy to use and fully customizable. There is also an option to export the reports directly into Excel for further analysis. MIP customer service is readily available, and they are very friendly and helpful. I have resolved several reporting issues by simply calling the help desk. I would like the option to increase the font size as sometimes it is difficult to read on the main screen.
Douglas Gates | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Review Source
We use MIP Fund Accounting for all of our accounting needs. We use it effectively to manage a significant number of contracts, grants, and funds. We heavily use the application and many of the modules including a significant number of imports to automate our operations. We also use the tool to produce many of our financial statements for our board and internal managers.
March 30, 2022

Great for Grants!

Score 10 out of 10
Vetted Review
Verified User
Review Source
Having a robust system of codes allows us to track the type of funding (federal, state, earned/private/other), restrictions, grants, programs, and departments. We can easily pull reports to slice the data in many different ways, which assists with decision-making. The reporting features are robust, and it's incredibly easy to create customized reports, apply filters and adjust parameters as needed.
Score 9 out of 10
Vetted Review
Verified User
Review Source
MIP Fund Accounting is valuable in managing 4 different tax entities; 30+active programs, and numerous funding sources. The accounting interface is straightforward making AP and AR clear to enter, manage and analyze. Reporting is robust allowing for deep analysis.
Brian York | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Review Source
We use MIP as a fund accounting solution and have historically run payroll through it as well. It tracks our grant spending, we run full cycle accounts payable through it and use it for employee expenses as well as payroll. We run our internal reporting through the software and use that for grant billing purposes. We're also working on adding on the Microix product requisition software and digitizing our receipts and such. For its cost, I think MIP is one of the best fund accounting solutions for small to medium non-profits who need a real fund accounting solution but don't need a true ERP system. The biggest weakness is probably the grant management tools, which are not very good and can't have reports run using those fields directly. However, you can use report groups if you're careful and understand the functionality in order to create grant reporting groups to track different end dates and such. MIP has a lot of power and flexibility if you investigate all it can do, many times there are ways to create functionalities that seem lacking, such as through user-defined fields.
March 28, 2022

Mediocore

Score 8 out of 10
Vetted Review
Verified User
Review Source
I do full accounting on MIP including payroll. I have an issue with leave balances and can't seem to get all of them correct. Some reports are frustrating trying to get the information I need or look at what is making up the report.
Score 8 out of 10
Vetted Review
Verified User
Review Source
Budgeting, posting/importing journal entries, approving transactions, reviewing transactions, allocations, and lots of reporting. The reporting is typically custom financial reports, transactions details, trial balances, and some year-end reports. In the Budgeting module, I import and pull reports. My main roles are reporting and budgeting, so most of my activity is in pursuit of those things.
Score 8 out of 10
Vetted Review
Verified User
Review Source
MIP Fund Accounting tracks all income sources and funds associated with them. It keeps things simplified with the various fields for funds and departments codes. In a non-profit organization this is critical. The reporting options are flexible which allows me to design new reports quickly and produce the info requested on short notice.
Score 10 out of 10
Vetted Review
Verified User
Review Source
We use MIP Fund Accounting for all financial accounting and reporting. We also use the software to compare our actual financial results to budgeted amounts for over 50 budgeted operating cost centers. The product addresses accounting and reporting for multiple grants and across multiple reporting periods which we did before only through Microsoft Excel.
Score 9 out of 10
Vetted Review
Verified User
Review Source
Our usage of MIP entitles many aspects but the one aspect we prioritize is tracking expenses and revenue. We receive numerous grants from governmental entities and other nonprofits, so keeping track of how expenses/revenue are coded is always a top priority. MIP allows you to be as detailed as you want. This can range from funding source to program/department.
Score 9 out of 10
Vetted Review
Verified User
Review Source
We have been using MIP Fund Accounting since 2016. It was a significant upgrade from our old system Blackbaud Fundware. MIP Fund accounting has provided us with a lot of flexibility and efficiency in reporting, cost tracking and budget controls, bank reconciliation, accounts payable/receivable, and general ledger analysis. The program has several features for creating custom reports, setting organizational preferences and restrictions to enhance control and reduce errors. Overall we are satisfied with our upgrade to MIP fund accounting.
Score 10 out of 10
Vetted Review
Verified User
Review Source
I spend most of my time in the HR module, but also use the accounting software as necessary. Obviously, accounting and finance spend more time in that portion than I do. HR uses the system for payroll, employee information, and reporting.
Score 10 out of 10
Vetted Review
Verified User
Review Source
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.