Accounting nerd's review
June 13, 2016
Accounting nerd's review
Score 5 out of 10
Vetted Review
Verified User
Overall Satisfaction with Abila MIP Fund Accounting
The finance department uses MIP Fund Accounting. It is a complex program requiring knowledge of fund accounting. Therefore, other departments do not use it. It provides a tight audit trail (no after-posting changes) and supports fund accounting transactions, accounts payable, cash disbursements and will produce FASB- and GAAP-compliant financial statements.
Pros
- Report writing is particularly good, I think. Once you get the hang of it, detailed reports for almost any purpose can be created.
- Integrated bank account reconciliation function is great!
- I like the trial balance reports: can be run by restriction or consolidated.
Cons
- Accounts Payable reports are a little lacking: if you want both expense distribution and check numbers on the same report, for example, it's a real chore.
- If you set up a credit card as a bank account (in order to reconcile it) it throws off the cash flow statement.
- There is confusion on some TB reports with lines "Current Balance" and "Opening Balance". Current balance is NOT the total balance of the account.
- We do not really see any improvement in ROI using MIP. It's an accounting program, for us, not an analysis tool.
Comments
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