TrustRadius
MIP Saved The Day!!!
https://www.trustradius.com/accountingMIP Fund Accounting (formerly Abila MIP)Unspecified8619101
Joan A. Cox, CMA CPA profile photo
Updated January 18, 2019

MIP Saved The Day!!!

Score 10 out of 101
Vetted Review
Verified User
Review Source

Overall Satisfaction with Abila MIP Fund Accounting

Abila 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.
  • 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.
  • 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 is well suited for organizations with multiple funding sources, multi-year and cross-year reporting, and numerous cost centers/expense charge codes. The common chart of accounts helps with consistency in reporting across an organization and to external users. Consolidation of different grants is easy to complete and reporting can be performed on any time period.

I don't [think] it is appropriate for smaller organizations that do not have complex accounting or reporting requirements. Many nonprofits have a small staff which might find MIP more structured than they may need to their reporting.

MIP Fund Accounting Feature Ratings

Accounts payable
10
Cash management
10
Bank reconciliation
10
Expense management
10
Fixed asset management
8
Multi-division support
9
Regulations compliance
8
Standardized Processes
Not Rated
Order entry
6
Standard reports
10
Custom reports
10
Role-based user permissions
10
Single sign-on capability
9

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
Abila MIP is a great product to meet our needs in terms of accounting, reporting with a good security to provide access to those that need it. It is fairly flexible and scalable.
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

Make sure you know what you need and how to minimize potential errors due to training shortfalls
  • 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

They have responded quickly and worked with us to provide information and/or solutions. The follow-up with email to ensure the issue is solved is good.
ProsCons
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.

Using Abila MIP Fund Accounting

Easy to modify reports; direct export to MS Excel; ability to email reports from the software
  • Generating Financial Reports
  • Bank Reconciliations
  • Getting Budget Amounts into the software
ProsCons
Like to use
Relatively simple
Easy to use
Technical support not required
Well integrated
Consistent
Quick to learn
Convenient
Feel confident using
None