Item: MIP Fund Accounting
Rating: 10
Author: Shane Bennett, MBA

Overall Satisfaction with Abila MIP Fund Accounting

Use Cases and Deployment Scope

MIP Fund Accounting is used in our accounting department and is incredibly useful in capturing financial data and in reporting. We must report on multiple grants to different regulatory agencies and this software allows us to record costs at many different levels from the grant, the grant year and grantor prescribed cost categories, while still sharing GL codes and employee/participant codes that may be applicable to any grant.

Pros and Cons

Pros

Custom reporting options that are easy to use
Ability to track costs at a very detailed level, far beyond just a grant and general ledger account code
Ability to report on grants that have differing beginning and ending grant dates
Ease in creating reports that are used for audits
Ability to track expenses for participants on our social programs

Cons

It's expensive to change or add reporting segments.
Account codes, specifically Cash accounts, don't have a place in the setup to include the (bank) account number.
Payroll liabilities are accrued in PR, but when transferred to accounting they just go to the liability GL account rather than creating the Accounts Payable to the vendor. For instance, I would like to see state withholdings transferred over to a payable to the designated vendor rather than having to separately record the AP which removes it from state withholding payable to Accounts Payable. This additional entry is room for error.

Return on Investment

Once you set up your frequently used reports, you save much time in pulling routine information; this is especially useful when you have stakeholders asking for information 'on the spot'.
Different awards/grants require different reporting categories and MIP Fund Accounting makes it easy to customize your reporting for each award/grant to match the prescribed budget categories. Giving your grantors information in 'their language' is incredible goodwill.

Likelihood to Recommend

We have several board policies that limit amounts we can spend per participant/client in certain categories (training, supportive services, etc) and MIP Fund Accounting allows us to create reports that make it easy to track our spending. When we have state monitors, they will sometimes select a sample of participants/clients and ask what we have paid for them; MIP Fund Accounting makes it easy to report on detailed costs per participant/client.

MIP Fund Accounting Feature Ratings

Comments

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Reporting life saver!