How MIP fund accounting works for us
October 07, 2016

How MIP fund accounting works for us

Anonymous | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with MIP Fund Accounting (formerly Abila MIP)

We use MIP Fund Accounting with three of our companies. The parent company is a complex company with many departments that have numerous grants that are being tracked. The ability to create your own reports makes it easy to get the information that you need. This software can be simplified for the less complex companies. The MIP Fund Accounting has allowed us to use the same software for many ventures.
  • The ability to track our clients with each grant and projects.
  • The feature of re-occurring invoices in payables as well as receivables.
  • Being cloud based has made it very flexible on work hours. The ability to allow our staff to work remotely.
  • The online access can have problems with speed. We have found that MIP's servers have had times of over use and struggle.
  • Accounts payables shouldn't default to 30 days. Suggest to default to 0 days then you can change. Most companies now are due upon receipt or 10 days.
  • Accounts receivable is not user friend. For simple transactions it takes many enters. Need to find a simpler process to post a deposit with one entry and still have the ability for customer history and each transaction history. Currently if you want this history you have to go through too long of a process.
  • The ease of multiple funds
  • The increase of productivity
  • The complexity of the software can take time to know all of its features and abilities
Our company is a nonprofit organization that receives at least 50 grants a year that we need to track each of the budgets. We no longer have to keep Excel spreadsheets on each of these grants to provide project managers the financials for each grant. We are able to print them a report for each client and what funds support each of our clients needs. We can print reports on a specific project, what clients are associated with that project and what grants funded that project. Meanwhile, in our smaller companies, our property management company, and our retail store can still utilize MIP Fund Accounting. We don't have to purchase multiple software.
Our company has used many MIP software, but so far MIP Fund Accounting as been the best. The support that MIP provides has been helpful, they are quick in their replies and keep you informed as they are working through the issue at hand. You have a few different opinions in contacting MIP for help. You also have access to a forum that allows you to provide your input on what is working and what doesn't.
This software gives you the ability to have a coding structure that allows you to take one grant and code it to a source, a department, a project, if it restricted funds, as well as the participant involved. The level of the reporting structure has helped our reports to our funds and helped us with our productivity as well as our turn around time on grant reporting.

MIP Fund Accounting Feature Ratings