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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
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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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Pricing

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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.

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

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FastFund Online from Araize is an SaaS system that integrates nonprofit, fund accounting, fund raising (CRM) and payroll in a single solution. The vendor says FastFund Online is designed to help nonprofits take control of their fiscal and development responsibilities in order to be more accountable…

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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

(824)

Attribute Ratings

Reviews

(1-25 of 429)
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Score 7 out of 10
Vetted Review
Verified User
Incentivized
  • 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

Excellence of Execution

Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • Easy to access data from any previous year.
  • The system is quick with inputs of information, no lag.
  • It really makes tracking of expenses much easier with PO module.
  • Payroll input is quick as easy.
  • With the payroll process, if there is an error in sending the stubs through email, there is no option to resend without a restore. That really needs to change.
  • Being able to void encumbrance at the same time as a PO would be an incredible time saver.
  • When processing W2 the system deletes info.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • 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 in the Open

Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • 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.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Importing JEs
  • Importing Invoices
  • Review of TB with non-posted JEs
  • Cannot use the drill down function (in reports such as TB, FS) in Modern MIP.
  • Ability to run GL reports that have option to include check #s
  • Make report options easier to under - i.e. matching document # and document #
  • Ability to import cash receipts
August 25, 2023

MIP Review

Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Reporting capabilities
  • Providing necessary fields for inputting data
  • Ability to upload documents
  • Opening transactions that have already been posted
  • MIP Cloud has lots of glitches that make it frustrating to use
Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • The flexibility to build and run reports to pull information over many different time periods for detailed Grant and contract expenditure tracking
  • Accounts payable set up and data entry very easy to use which makes it simple to train new employees
  • MIP customer service during the initial set up and over time has been very patient and helpful with the changes that we have had to incorporate.
  • I have many reports that I built in unposted general Ledger transactions that I want to copy into posted general ledger transactions. I would like there to be a easy way for me to do that without having to rebuild the reports.
  • I would like to be able to download reports to Excel that have formulas in them.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • Search queries for accounting/financial data to any specificity
  • Simplify data from three different software programs into one palatable system
  • Navigation all naturally makes sense
  • Could be more streamlined
  • Could have a more basic version (it is a step up in complexity from quickbooks)
  • When trying to go back to a previous page/task (the 'done' or 'back' buttons) sometimes do go back too far, but sometimes they do. More consistency of how those buttons work would help.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • 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.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Allows for different funding sources to be set and managed
  • Easy to use general ledger and components
  • Report capability access by fund
  • Difficult to find help on your own in the help section. Easy of use in the help section.
  • Automatic session numbers generated by the system. This would provide more consistence in the ledgers along with easier lookup capability.
Yelena Novik | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • 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.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Data entry using forms.
  • Work Flow: To make sure posting is complete.
  • Available resources: Support is EXCELLENT!
  • Security/Roles
  • Database: Easy to manage and update.
  • Reporting /printer management
  • User preferences/look and feel, user interface
  • Patches or update delivery and installation
June 05, 2023

Abilia MIP Review

Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • 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

Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • 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.
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