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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

(301-325 of 429)
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September 13, 2016

A Robust Solution

Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Time keeping for employees
  • Workflows for different modules
  • Granular security permissions
  • Reporting is lacking, no custom reporting can be built
  • EWS only works on web browser, no app is available for any device
  • Setting up test databases can be cumbersome
Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • We use the financial statement reporting very often to review organization efficiency. These reports are easy to access and user friendly to read and follow.
  • We have a complicated fund accounting system with multiple revenue sources and expense/cost programs. MIP allows us to track all of these with details necessary for management.
  • The AP/AR modules allow us to quickly see detailed information on vendors/customers when needed, so questions from them via phone can be researched and handled almost immediately.
  • Some of the specific report builder criteria is not user-friendly and lacks the ability to easily preview/modify the outcome.
  • MIP does not offer the flexibility and ability to handle our payroll needs [so we use MITC for payroll processing].
  • When reconciling cash accounts, the suspense items to balance one month are not saved for that month, once they have been cleared in the following month.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • I really like how easy it is to customize reporting formats to suit different reporting needs.
  • I have found it easy to export reports to PDF and Excel formats.
  • I have found it difficult to consolidate organizations across multiple fiscal years.
  • I have also found it difficult to get experienced support for the organization consolidation function without having to pay for additional consulting services by MIP.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
  • MIP's Accounts Receivable billing module effectively generates and processes electronic delivery of billing documents as well as recording associated payments received.
  • MIP's Accounts Payable module functions very well with Aatrix 1099 reporting tool. We currently do not sure the W2 feature, but the electronic reporting of 1099/1096 information is timely and very convenient.
  • We have recently started using the Electronic Funds Transfer module. It is very convenient for creating batches that communicate with our bank software.
  • The import features for Accounts Payable invoices and cash receipts are very helpful!
  • MIP's Electronic Funds Transfer module, during setup, does not allow for testing of information being transferred.
  • MIP's Accounts Receivable billing module import feature has not successfully worked on our trials. Consequently, we have not attempted to import an Accounts Receivable receipts batch.
  • MIP's import feature for both vendor and customer update of information removes the detail of the record for items not being updated; notes are lost, other contact items are removed, etc.
September 12, 2016

Mip user for 8 years.

Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Report flexibility.
  • Permits the customazation of the chart of accounts. You can set this up anyway that you like.
  • MIP gets fund accounting.
  • Once years are closed, it would be helpful to somehow place the batches, for lack of a better reason, off to the side. When looking for a batch, once you have had the system for a while, you have to sort through EVERY batch you have ever created. There are problems when staff do not follow labeling protocol, and sometimes you have to open a batch to see what is in there. If you could say do this and then place a previous unclosed year batch in a place, it would make current tasks simpler.
  • When selling the product, there should be more time spent on the labeling of the batches and items that will be with you forever.
  • The Grants module started out strong and then fizzled. It could be so much more for those of us that are grant funded.
Sue Johnson | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • Accounts Payable is easy and straight forward.
  • Reports are easy to use and manipulate.
  • Overall it is well thought out as a software product, flexible but not too flexible.
  • Accounts receivable is weak.
  • It would be nice to have a database added to this software.
  • Budgeting is cumbersome, not very flexible, forces users to use spreadsheets.
September 09, 2016

Abila Review

Score 6 out of 10
Vetted Review
Verified User
Incentivized
  • Cloud based/multiple user environment
  • Tracking of recurring entries
  • Would like to ability to model an entry prior to posting
  • Easier download to Excel
  • Better budgeting module...especially balance sheet
Tamour Kousha | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • Reporting - MIP is particularly strong in reporting. We have been able to create custom reports for all major funding sources, strong internal reports for senior management and the board of trustees, and detailed general ledger reports to ensure data is being accurately entered into the accounting system.
  • Accounts Payable/Receivable processing & reporting - MIP has allowed us to add efficiency to these 2 key areas of our department. The entering and reviewing of accounts payable has become easier, and we have significantly reduced the time it takes to file accounts payable invoices (invoices are now being filed by batch, previously they were being filed alphabetically, which took a significant amount of time). The accounts receivable process has been streamlined through MIP. Invoicing tenants, pledges and grants are setup as recurring invoices, which makes this process very easy on a monthly basis. Also, internal monitoring of outstanding accounts receivable has been improved due to MIP's ability to generate custom accounts receivable reports.
  • Copying sessions/setting up recurring entries - MIP allows you to copy previous sessions that have been posted into the accounting system. Being a non-profit, some of our allocation journal entries and other entries can be quite large. The ability to copy a session that has been previously posted saves us a significant amount of time. MIP also allows you to setup weekly/monthly recurring entries. Again, not having to manually enter these entries on a weekly/month basis saves us a significant amount of time.
  • Budget Module - the budgeting module in MIP is somewhat difficult to use and seems to be less user friendly than other modules.
  • Purchasing request system that integrates with MIP - we have not had any luck finding a purchase request system that integrates with MIP. We operate several different programs and the managers of these programs are currently submitting manual requests to use their program dollars. I would like to see MIP introduce a purchasing module that includes an authorization process, and incorporates both check requests and credit card requests.
  • Correcting errors - It becomes somewhat cumbersome when an error needs to be fixed in MIP. A journal entry needs to be made for anything that has been coded to the incorrect general ledger account or other chart of account code. I would like to see MIP introduce a feature that makes this process much easier (i.e. if something is coded to an incorrect grant or program, an administrator can override the entry and manually change the coding).
Score 2 out of 10
Vetted Review
Verified User
Incentivized
  • Prompts to backup database on exit.
  • US based, articulate support reps.
  • Client link back to server is not optimized for VPN utilization. (Remote users will likely need to VPN back to a local desktop and run the client there.)
  • Support does not have a good grasp on optimizing a customer hosted instance, they insisted SQL Express should be adequate for our needs but we had agonizingly slow performance until we upgraded the database to a full SQL standard license which is very expensive.
Score 6 out of 10
Vetted Review
Verified User
Incentivized
  • It provides you the ability to customize your reports. This helps when you have grants, program etc., that need to have their own reporting.
  • Layers of coding keeps things clear to who ever looks at your books.
  • It allows you to run may items concurrently. So if you see something is wrong you can fix it without closing what you are in to fix it. It also allows you to answer questions with out closing one area when asked about another.
  • I would like the report writer to be a bit more intuitive.
  • The maintain drop down could be more intuitive as well.
  • Links to back up documents from areas to increase speed.
September 08, 2016

Overall in MIP

Lillian Burrow | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User
Incentivized
  • Wide selection of reporting
  • Ease of data entry
  • Would like to hide or delete inactive or discontinued vendors. Actually, I would like to hide inactive vendors and delete discontinued vendors.
  • Would like to hide inactive codes and delete discontinued codes.
  • Direct deposit should be included with the payroll module. When the direct deposit box is check marked in payroll for an employee, it should automatically advance to the direct deposit information. Another module should not have to be purchased for that.
  • As a non-profit, MIP is very expensive. What little I know is because I had to learn it on my own. Our organization can't afford all the training and/or different modules in order for us to truly utilize MIP. Just paying for the yearly support wipes out that line item of the budget.
Score 4 out of 10
Vetted Review
Verified User
Incentivized
  • Allows us to access the sql database which allows extensive reporting options.
  • Track payroll and accounting expenses in one GL
  • You cannot put special characters into user defined fields, this will not allow payroll to process for an individual.
  • Cannot delete unused distribution codes.
  • Prompts to save a report every time there is a change, impractical.
  • HR module instruction manual is written poorly and missing steps, it's obvious this hasn't been written by the same developers, needs to be reviewed.
Marie Cline | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Reporting outside our fiscal year was the main reason we chose MIP. Several of our grants have different periods than July 1 to June 30, and it was very important to be able to easily report on those other periods.
  • The ability to create and modify reports with exactly the information we need and none of what we don't is great.
  • The ease of putting information into the system is great.
  • Some reports can't have particular fields added to them, especially in payroll. It would be nice to be able to modify for every piece of information.
  • Sometimes the recurring entry function doesn't work as well as we'd like.
  • I have trouble with fixed assets. We just track our assets in Excel because MIP seems too complicated for keying assets that we already owned and getting the historical information correct.
September 02, 2016

Review at a Glance

Score 7 out of 10
Vetted Review
Verified User
Incentivized
  • Many options for pulling different reports
  • Access by multiple users at one time
  • I think the importing function can be difficult to get used to and set up
  • Entries that are made to different fund codes have to moved through a clearing account. You can not make one entry to 2 different fund codes.
September 02, 2016

Abila Review

Maggie Salmon | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • Managing grant money
  • Paying invoices on time
  • Availability of custom reports
  • It can be hard to find and understand some of the instructions
September 02, 2016

Loving Abila

Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • Reports are easily customizable
  • Analysis is a breeze
  • Learning to write reports is easier from a train-the-trainer approach.
  • We recently added the Microix module for electronic purchase orders.
  • Budget formation - right now we are spreadsheet driven and only use MIP once the budget is final
Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • As an individual without accounting background, I find the process of creating a vendor easy and intuitive.
  • Releasing payments and modifying payment schedules is quick and easy; allowing for the unique modifications some of our grantees require.
  • From my point of view the major con is the grant intake form our accountant created for grantees to be "vendors" within the MIP system. Very cumbersome. Too much irrelevant information for the financial side of the grant-making process. Will need to discuss how to modify/simply this process going forward.
  • I would like to see a simplified way to get vendor payment activity information. I often have to look up check and $ amount for grant tracking. I know how to do it, but the steps to identify the appropriate report and vendor identification to viewing the data is slow and cumbersome compared to other activities in MIP.
September 02, 2016

Abila- Nonprofit Review

Score 6 out of 10
Vetted Review
Verified User
Incentivized
  • Purchase Orders - Easy to create and easy to bypass certain codes that do not need to be used.
  • Budgeting - Easy to enter the budget. However, to manipulate reports to fit our criteria has taken some time to figure out. Overall, the budget reports are exactly what we need.
  • Invoices - invoices are detailed and easy to enter and generate to aged payables quickly.
  • Bank Reconciliation is important and MIP's set up is easy to understand.
  • Reporting - It is difficult to pull information out of MIP without spending hours setting up formulas, titles, and content for reports.
  • Attachments - this process is very unclear in the tables and contents. It is difficult to understand and figure out where the attachment is going and how it is useful in MIP because it does not pull the information into MIP itself. It's basically just in there to say it's on file.
  • Organization setup is hard to maneuver.
September 02, 2016

The MIPpet SHOW

Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • Statements set up to suit your needs require only a few clicks to update the information to new periods, allowing easy budget to actual comparisons.
  • The automated bank reconciliation process, through clearing posted items, allows for easy reconciliation each month.
  • The ability to produce financial statements and reports with unposted activity permits for real time analysis of financial position.
  • I like the easy process of taking information from the database, exporting to Excel, and easily refashioning the information in pivot tables for varying looks and comparisons.
  • In the process of updating Distribution Codes starting with copying a previous code, the process for update requires getting out of the processing area and reentering to find the new code to proceed with updating.
  • The look on-screen for vendor balances has information very scattered and difficult to read. An improved presentation would be appreciated.
  • Under Combining Statements, reports cannot be run with unposted account activity.
  • In filtering lookup for posted JVs under Reports, entries have Session Description, but under unposted in Reports they do not have that useful information. And within the JV entry, when copying a previous entry, selections appear in random order rather than sorted in order like within filtering for posted or unposted entries in Reports. It would be good to have a standardized presentation method -- filtering under Reports for posted transactions is the best.
  • When running a statement using assigned groups, it would be good to receive some type of alert if there are expenses not captured within the statement because an account with expenses has not been assigned. As new account numbers are added, they aren't necessarily assigned to groups.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Since MIP is customizable, it can be configured to report on many different levels.
  • Report setup is easy by using many of the "canned" reports.
  • Distribution codes can be set up to repeat complex allocations.
  • Some reports are only available at the "posted" level. It would be nice to have an "unposted" option on every report.
  • The recurring transactions could be easier to use.
  • In the allocation module, only three segments can be used. It would be nice if there were a few more options.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Reports
  • Love the Recurring Entry Function
  • Ease in reversing transactions and voiding checks when needed
  • Customer service
  • I don't see that there is a great deal that could be improved on except perhaps more manuals and written how to instructions for the various functions.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Does budgeting well
  • Once we have COA changed over, we will be able to print indirect cost proposals and reports directly from the system
  • Statements for directors and auditors are run directly from the system in various formats
  • We probably do not use the system to its fullest, but what we do use it for works fine. We do not have any limits to report for us.
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