Great Fund Management
March 03, 2017
Great Fund Management
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with Abila MIP Fund Accounting
We use MIP Fund Accounting across the entire organization, supporting 26 different cost centers. MIP allows our organization to track multiple funding sources and properly match expenses to the various funding sources. We use MIP as our primary budgeting tool and budget reports are prepared monthly and provided to multiple management levels within our organization. We are currently implementing an electronic purchase order and invoicing system which integrates with MIP. We project that this integration will increase productivity within our accounting department and reduce the need for maintaining paper files.
- MIP Fund Accounting provides the ability to accurately allocate expenses across multiple funding sources. The setup of various allocations and distributions within the software is very user-friendly
- From general ledger reporting to complete financial statements, the reporting features within MIP Fund Accounting are robust and flexible. MIP provides our organization the ability to customize reporting and provide actionable information to managers and executives.
- Cash management is performed flawlessly within MIP Fund accounting. The bank reconciliation features and journals allow us to effectively manage our cash position at all times.
- Currently, we hard-enter our annual budget into the software. There does not appear to be an import tool which seems odd given the ability to import and export data from other modules.
- Within the Administration/Security module, if I need to provide a user with the ability to "post" transactions, I cannot limit which modules the user can post within. For example, I provided the AP manager the ability to "post" transactions, but could not limit this authority to only the AP module.
- Customization of our internal reporting to meet the demands of external requirements has allowed us to decrease labor costs
- Able to integrate our electronic purchase order/invoice system without having to change our accounting software; MIP "grows" with our organization.
- The budget controls and reporting within MIP Fund Accounting have proven to be an effective tool in controlling costs and making necessary adjustments throughout the year in order to meet financial goals.
Our organization has achieved this benefit. The flexibility within MIP allows us to scale up or down with ease. Associating fund accounts with cost centers is the basis of the reporting structure. From there, we can customize the degree of complexity required both internally and externally. The standard reporting in conjunction with Excel and DrillPoint minimizes or eliminates manual calculations necessary to produce required reporting.
The customer service provided has been excellent, which has reduced employee frustration with respect to our accounting software an increased productivity. We use MIP for all accounting and financial reporting functions within our organization.
We felt MIP was the best choice because it demonstrated the ability to better meet the various reporting requirements we encounter as a non-profit. The pricing was competitive and we determined that the software was best suited to meet future needs. The support was an important factor in our decision and this has been a proven asset. Bottom line, functionality, customer service, price and the ability to scale up as our organization grows were the determining factors.