Fund accounting for Nonprofits
Updated August 14, 2020
Fund accounting for Nonprofits
Score 9 out of 10
Vetted Review
Verified User
Overall Satisfaction with MIP Fund Accounting (formerly Abila MIP)
Our company has multiple grant sources and MIP makes it easy for us to track multiple funding sources.
Pros
- Track funding sources for grant reporting
- Track overall programs within the organization for FS and 990 preparation
- Prepare multiple P&L's and other reports
Cons
- The budgeting functions don't seem as user friendly.
- MIP is a fund accounting system often used by nonprofits who do not look for a return on investment.
- Showing that your company can track all grant expenses makes you more approachable to donors and grantors.
I haven't used any other fund accounting software. I have used peachtree, Quickbooks, and PeopleSoft (but not a not for profit version). If you chose a program that does not offer the tracking of funds, you have to do that yourself. This leaves too much room for error or overlapping of funds. Grantors really like to see that we easily and accurately keep track of their funds. It makes grant reporting of expenses much easier. I would hate to have to go through every invoice and enter it into Excel. That would be a total waste of time.
MIP Fund Accounting Feature Ratings
Support from Community Brands
The support has worked well with our IT department and assisted with all software upgrades which was helpful.
Comments
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