Abila - a great segment reporting tool.
Updated June 03, 2023

Abila - a great segment reporting tool.

Donavan Lam, CPA | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User

Overall Satisfaction with MIP Fund Accounting

MIP is currently being utilized by the finance department to facilitate the day to day accounting needs of the organization. It helps the organization address our fund accounting needs in addition to fostering an environment of proper nonprofit accounting and reporting. MIP is currently being used for Accounts Payable, Accounts Receivable, Journal Voucher Transactions, an other day to day accounting needs.

Pros

  • The flexibility of the segmented chart of accounts allow for the user to design the chart of accounts based on the organization needs. A well designed chart of accounts allow for reliable reports with detailed cost structures to track and analyze multiple funding sources.
  • The importing features allow for very efficient entries of high volume journal entries and minimize mistakes.
  • The system itself is very user friendly and the design/layout of the system is highly intuitive.

Cons

  • The reporting features can use some improvements for ease of use and more functionality.
  • I feel that if Drillpoint reports can be integrated with the Scheduler Module, it would make reporting and data manipulation even better.
  • Some improvements within the budgeting module is also highly desirable.
  • MIP has streamlined and allowed more tasks to be automated maximizing the efficiency of staff so more staff is not needed.
  • MIP importing feature allows integration to many different systems which makes MIP very flexible allowing costs to be saved if the owner of the MIP system switches between vendors.
MIP has allowed us to track revenue and funding sources with the flexibility of a segmented chart of accounts. This is extremely helpful for periodic reporting especially when it is a part of the funding requirements. However like any system the chart of accounts needs to be designed properly to ensure all tracking elements can tracked properly through the general ledger.
MIP has been a very useful system in my career, there are obviously other systems that are available. However I still feel MIP still give you the best value for the money and the user friendly aspect of the system is highly desirable.
Yes MIP has allowed us to do that very effectively. We have over 50 funding sources that needs to be tracked annually. MIP allows us to track the expenses properly in addition to ensuring the reporting is being done in a timely manner. The Accounts Receivable module has made our reconciliation process very efficient especially with our large funding portfolio.
Welter Consulting - Welter Consulting has been a very dependable resource for our MIP needs. It's one of the reasons why we have remain with MIP as Welter Consulting has always facilitate our accounting needs especially offering creative solutions to our problems.
MIP Fund Accounting is one of the best accounting system out there and provides a very user friendly solution to organizations' needs. MIP is also flexible enough to adapt to different organization structures with different funding portfolios. The variety of modules allow for the users to scale up or down as organizations expand or contract.

Do you think MIP Fund Accounting delivers good value for the price?

Yes

Are you happy with MIP Fund Accounting's feature set?

Yes

Did MIP Fund Accounting live up to sales and marketing promises?

I wasn't involved with the selection/purchase process

Did implementation of MIP Fund Accounting go as expected?

I wasn't involved with the implementation phase

Would you buy MIP Fund Accounting again?

Yes

I believe MIP is suited for organizations that have complex funding structures. Especially those organizations who have multiple funding sources with agencies that require different expense categories to ensure expenses are properly classified. I think MIP is not appropriate for small organizations whose chart of accounts may be less complex in addition to a lower operating budget.

MIP Fund Accounting Feature Ratings

Using MIP Fund Accounting

1 - I think someone who has experience with SQL server is a plus if not someone who understands how to manage the system from an administrative function. Allowing appropriate access with proper security rights while ensuring the system is up to date especially when around tax changes.
  • Day to Day Accounting
  • Bank Reconciliation
  • Revenue Source Tracking
  • Integration with Microix
  • Paperless journal entries tracking
  • Paperless financial reporting
  • Payroll Processing
  • Fixed Asset Management
  • Dashboarding for Analytics
6 - All are part of the finance and accounting team.

Integrating MIP Fund Accounting

Other systems need to have to ability to integrate also with MIP. There is a duality when it comes to integration, MIP can be flexible but if other systems does not have the capability or is designed for other software it may not be an MIP issue. One of the biggest issue is that MIP allows for a great number of segments while most software or programs has a limited amount like 4 or 5 corresponding segments.
  • Microix
  • Paylocity
  • BofA Commercial Cards
For Microix, it is now the default system for our accounts payable process. We utilize it to house invoices, provide audit trails and keep track of everything accounts payable related within that system. The integration was not very difficult as Microix was designed for MIP, however it was time consuming to ensure the set up was correct. For Paylocity and BofA, the integration was more about ensuring certain fields to ensure it matches with the chart of accounts for proper tracking and analysis.
  • Emburse
At the moment I do not think the vendor supports integration but this is a conversation that I am continuing to explore.
  • File import/export
  • Single Signon
Understanding both MIP limitations and capabilities along with the system you’re trying to integrate is extremely beneficial. Ensure there is proper technical expertise from an IT perspective both in house and from the vendor is highly critical.

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