Successful financial management for non-profit businesses.
Updated August 03, 2016
Successful financial management for non-profit businesses.
Score 8 out of 10
Vetted Review
Verified User
Overall Satisfaction with Abila MIP Fund Accounting
MIP Fund Accounting is our main accounting software. We use it to manage our revenue and expense budgets against actual results. The monthly department statements and activity reports are distributed to budget managers on a monthly basis for variance reports. All cash receipts and disbursements are processed through the accounting system with great success and good reporting capabilities.
Pros
- We have had success in managing Accounts Payable and Cash Receipts in MIP Fund Accounting. The input of items is not difficult and the reports that can be generated are useful.
- Managing our annual budget vs. actual results is easily done with this software. We report on variances monthly through the use of the general ledger activity reports and the income statements.
- We do not process payroll through this software. However when we first began using MIP Fund Accounting software I did use the payroll module and found it very easy to use.
- The ability to export reports to Excel files is extremely helpful for analyzing data and reporting on it.
Cons
- The import feature is available however I have not successfully used this function. I attended a live training several years ago and the trainers were not able to assist me in importing the payroll journal entry that I enter monthly.
- Creating 1099s at calendar year-end has not worked well for us. It would be much more useful to be able to print reports for use with outside vendors. The version of MIP affects the use of internal reporting...not sure why!
- We have experienced positive impact on our business as we are capable of managing to budget and maintaining daily accounting functions with Abila MIP Fund Accounting.
We do track financial information by funds primarily when grant funds are awarded and subsequently expended. We also use project codes to manage projects each year.
We have not looked at any other products in several years. We have had a couple of solutions suggested however the cost has been prohibitive and since Abila MIP Fund Accounting is working well for us, we have not looked any further into other products.
MIP Fund Accounting Feature Ratings
Using Abila MIP Fund Accounting
Accounts payable; cash receipts; general ledger management; financial reporting; budget management
1 - Network administrator support is in-house
- Accounts payable - to maintain on time payments to all vendors
- Cash receipts - to accurately record all cash activity
- General ledger - budget management of revenue and expenses
- We use the cash flow statements for management purposes as well as the reports that help with projections for future periods.
Using Abila MIP
| Pros | Cons |
|---|---|
Like to use Relatively simple Easy to use Technical support not required Well integrated Consistent Quick to learn Convenient Feel confident using Familiar | None |
- Entering invoices is not difficult and moving through the accounts payable process up to payment of invoices is a simple process.
- Entering data in the system is not at all difficult. The ability to somewhat customize for personal preferences is good!
- In my opinion, running various financial reports is an easy process and the ability to export to Excel or create as a pdf document is a bonus.
- The process for producing vendor 1099s at year-end does not work well in MIP Fund Accounting. I have a work-around to gather the information and I use an outside vendor to prepare the forms and submit them. I would prefer it to work in the accounting system...
Comments
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