Item: MIP Fund Accounting
Rating: 8
Author: Kimi Cheng

Use Cases and Deployment Scope

Our Finance and Accounting Department staff use MIP Fund Accounting everyday. It records revenues and expenditures, it records payable and run check weekly, it generates financial statements at the year end. Other department managers use it for reporting purposes.

Pros and Cons

Very easy to customize reports based on individual or department's need, plus all reports can be exported in Excel format.
Vendor and customer ledgers are easy to understand with minimal training.
Payable module is very smooth and easy to learn, never had problem printing weekly checks.
We have multiple departments within the organization, it is very easy to record ledgers to each specific sub-departments.

Bank Reconciliation is difficult to use. The Deposits and Other Cash Items tabs are grouped by date instead of batch number.
Lack of local training provided by MIP. Difficult to find employees who have MIP Fund Accounting experience.

Return on Investment

Save time to prepare year-end financial statements.
Save time to keep customers and vendors records.

Alternatives Considered

N/A

Other Software Used

QuickBooks Desktop Enterprise

Likelihood to Recommend

We have 10 departments and 15 sub-departments. MIP is able to allocate revenues and expenditures to each sub-departments and roll-up to the departments.