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
  • Flexible and customizable reporting
  • Easy to use and intuitive interface
  • Excellent customer support
  • Looking forward to payroll being available on the cloud side
  • In the cloud, I have to look in 2 places to find the vendor id and then view the payment history. It would be great for that to be one click.
  • I get kicked out of the cloud side pretty frequently - I understand the need for security but the window of inactivity seems very, very short
May 14, 2022

MIPleased!

Score 8 out of 10
Vetted Review
Verified User
Review Source
  • I like that reports are fairly easy to create and run
  • I really like that payroll is such an easy process in MIP Fund Accounting.
  • If the reports were more accurate - especially when being converted to Excel
May 02, 2022

MIP is Adequate

Score 2 out of 10
Vetted Review
Verified User
Review Source
  • Fund Accounting structure.
  • The Dashboard configuration.
  • More dynamic planning/budgeting.
  • Better customization of Reports.
  • Flexibility
Score 2 out of 10
Vetted Review
Verified User
Review Source
  • Flexibility to create as many fund accounts as needed.
  • Ability to create a combined statement of revenues and expenses for multiple funds.
  • Very difficult to use - not intuitive at all; I feel like you really need the training to understand the product.
  • Very little automation; everything has to be manually entered which allows the opportunity for more errors and also requires a lot of double and triple-checking entries.
  • Cumbersome and tedious to use; for example, a journal entry that could be done in two lines on other programs, in my experience, takes at least 6 in this program, sometimes more. When you have to do this repeatedly it takes significantly longer to do everything in this program than it should.
  • Constant issues with reporting; reports are often missing funds or are incorrect and I have to call customer support for help. Most of these issues cannot be resolved immediately and a ticket has to be created to solve them.
  • In my opinion, even simple things don't work properly. We recently found out that when exporting results into Excel, if you select to remove headers and footers with the export, the program also removes some of the data. No telling how long this has been an issue, so now we have a data integrity problem with all of our exports. MIP Fund Accounting says it will fix in the next update so this likely affects other users as well.
  • Because the product is so time-consuming and cumbersome, it creates efficiency issues; everything takes longer than it should to complete, so we have to hire additional staff, especially at peak times.
Joanne Jenkins | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Review Source
  • Being able to design a report exactly as you want.
  • Data entry for payables and receivables.
  • Training
  • The Cloud. It consistently kicks you out and is super frustrating daily.
  • Making adjustments for viewing the Classic Version. It would be nice if you could make the view larger.
  • Deleting very old, unused vendors.
Score 10 out of 10
Vetted Review
Verified User
Review Source
  • Budgeting-we have over 25 departmental budgets to enter and it is efficient to do so through MIP.
  • General ledger imports-we now use imports to expedite data entry and review
  • Reporting-the options are numerous so that we can always pull the report needed-be it for the Board, external agencies, or internal requests
  • Audits-each year our external audits have improved due to the capabilities and reporting available.
  • Bank reconciliation-the ability to clear a series of sequential items would expedite the task
  • Screen-should be able to "lock" the preference of the user-it goes away when leaving the screen
  • The dates-on screen should have popped up to explain "document" vs. "effective" in various applications.
Douglas Gates | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Review Source
  • Segregates funds
  • Manages grants on different time periods
  • The reporting function allows you to easily isolate specific data
  • The Encumbrance module has some issues that I have never seen to be resolved
  • The Full AR Billing Module is a bit cumbersome in the user interface to invoicing
March 28, 2022

Mediocore

Score 8 out of 10
Vetted Review
Verified User
Review Source
  • separating funds
  • P & L's
  • Payroll
  • Reports, I would like to be able to drill down on more reports
  • Leave accounting
  • Payroll, I would like to be able to just tell the system I don't want any direct deposits instead of having to go into each employee and uncheck the DD box
Score 8 out of 10
Vetted Review
Verified User
Review Source
  • Reporting is great and you can create and save custom reports
  • The accounts payable module is helpful for paying vendors through ACH
  • The accounts receivable module is used often for cash receipts
  • The accounts payable would be great if there were more paperless automation features
  • The budgeting module could be improved with more reports
  • It would be great if you could easily attach documents to the non cloud version
Score 8 out of 10
Vetted Review
Verified User
Review Source
  • Budget interface is pretty easy to use
  • Training offered is great
  • Helpdesk is responsive
  • Drill down ability is not where it could be
  • The budget template wizard does not allow a default user set up so you have to click through and make selections on each screen
  • Would like to see more integration of budget and financial reporting (or learn how to see)
Score 8 out of 10
Vetted Review
Verified User
Review Source
  • ability to design my own reports easily
  • various options in check writing
  • payroll module easy to use with lots of flexibility
  • help mode is great!
  • would like the ability to drill down directly from the reports
  • would like to print GL reports without fund code detail
  • quick training available for new users
Score 10 out of 10
Vetted Review
Verified User
Review Source
  • Report generation and customization
  • Combining various reporting entities and excluding any that need to be
  • Allowing for drilling down to the transaction level
  • Forecasting functionality is very limited since you cannot forecast by GL code or expense account code at different percentages or amounts
  • Budgeting is not available as a tool for developing the budget only reporting
  • More options with allocations would allow for varying percentages based on different expense account codes for a cost center
Score 9 out of 10
Vetted Review
Verified User
Review Source
  • Financial Reporting
  • Interface with Microix AR AP and budgeting
  • System setup and controls
  • System for payrolls with complicated union contracts
  • Integrate purchase order/encumbrance in the AP system
  • Attachments features to upload back up documentation
  • Dashboards for graphic presentation of Financial reports
Score 10 out of 10
Vetted Review
Verified User
Review Source
  • Tracks the grant funds well
  • Has a very good reporting system
  • Easy for a new person to learn, because it is pretty intuitive for the most part
  • The Query function would be better if you could query multiple databases at the same time.
  • Occasionally there are glitches that lose or replace some information - it's not often though
  • More standard reports could be added, especially in the HR module
Score 10 out of 10
Vetted Review
Verified User
Review Source
  • Accounting - monthly reports are generally easy to produce
  • Fixed assets module integration with the general ledger
  • General ledger postings
  • Budgeting module could be improved to make it easier