MIP Saved The Day!!!
Overall Satisfaction with Abila MIP Fund Accounting
MIP Fund Accounting is being used by the finance department and the purchasing department only. All general accounting and financial reporting is performed via MIP. In addition, the purchasing department uses MIP to enter encumbrances to track open purchase orders. Use of MIP has fostered collaboration amongst various departments whose responsibilities impact financial reporting and monitoring of budgets. MIP makes producing financial reports very easy and the ability to quickly modify any report is very helpful.
Pros
- MIP export to MS Excel functionality is so easy to use and helps us to quickly begin research and/or analysis.
- The reporting features allow us to pick and choose which columns/fields we would like to see on reports.
- The option to include or exclude unposted transactions provides a good mechanism for what-if scenarios as it relates to financial statement amounts.
- The year-end adjustment feature is new for us however it saves valuable time when reviewing transactions/reporting in preparation for our annual audit.
Cons
- I'd like a better way to forecast expense that allows me to use a different multiplier or factors to augment individual line items.
- I would like the ability to develop the budget within the software so it would be easier for variance analysis between current budget and new budget or current actuals vs proposed budget
- The most positive impact MIP had on our overall business objectives was to reduce the amount of time to produce useful reports. We no longer need to convert text files to MS Excel.
- Being able to add and delete columnar/field data prior to generating the reports has made staff members more productive.
- Common chart of accounts to use for any center and/or grant
We have definitely achieved the benefit from MIP's design for managing multiple funds from multiple sources as well as across fiscal years. We have two grants currently and one contract that all have different grant budget/contract periods. Comparisons to budget can be performed for each independently and by our agency's fiscal year for audit purposes. This helps us to comply with grant or contract regulations,
Prosoft Solutions - Prosoft Solutions, as a partner, was invaluable in the set-up and implementation stage of our transition to MIP Fund Accounting. They were also very helpful when we needed to import transactions to the general ledger from MS Excel. We recently hired them to train staff on the encumbrance functionality in MIP since we have new staff that need to learn this.
MIP Fund Accounting Feature Ratings
Using Abila MIP Fund Accounting
2 -
Computer services support manager responsible for agency computer network, telecommunications, third-party contractual support
One PC/LAN technician provides desktop support to staff using MIP and helps with upgrades to workstations
- Financial Accounting and Reporting
- Budget to Actual Reporting
- Cash Management and Bank Reconciliation
- We are still exploring ways to reduce the effort to forecast annual expenses and create financials for our annual report
- Direct Budgeting in MIP rather than using another software for the budgeting modeling we require
11 - Accounting, finance, purchasing
Evaluating Abila MIP Fund Accounting and Competitors
Yes - We replaced Fundware which was DOS based and very cumbersome to use for reporting. It was too hard to create a set of consolidated reports and you had to export to MS Excel to change the report format.
- Product Features
- Product Usability
Easily exportable and Customizable report formats streamlined our monthly financial reporting process.
I would spend more time on understanding our existing challenges to get a better idea of how those could be met by the software.
Abila MIP Fund Accounting Implementation
- Third-party professional services
Prosoft Solutions
Change management was minimal - Providing refresher training is needed after the software has been used for maybe six months
- Training staff to use the software
- Working with consultant to structure software for the agency's needs
Abila MIP Fund Accounting Support
Pros | Cons |
---|---|
Quick Resolution Good followup Knowledgeable team Problems get solved Kept well informed No escalation required Immediate help available Support understands my problem Quick Initial Response | None |
No - We don't have many issues come up each year and I think this is because we do not use the payroll functionality.
Not at this time.
Using Abila MIP Fund Accounting
- Generating Financial Reports
- Bank Reconciliations
- Getting Budget Amounts into the software
Pros | Cons |
---|---|
Like to use Relatively simple Easy to use Technical support not required Well integrated Consistent Quick to learn Convenient Feel confident using | None |
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