Item: MIP Fund Accounting
Rating: 9
Author: Jan Warren

Use Cases and Deployment Scope

We use all general ledger functions, AP, and grants management. It is used by fiscal department only, with view rights by CEO.

Pros and Cons

Versatile and flexible reporting
Ability to track and report by segment
AP integrates well with GL

It's not clear to a new user the sequence of AP (reports to be run) We created an internal checklist.
We have recently had issues with allocation calculations picking up prior month transactions that have already been processed, causing inaccurate calculation.
For voided checks, I would like to see an option to void and not reissue. (due to wrong vendor or entry error) We don't do this very often, but the only way I've found to eliminate the void is with an AP credit.

Return on Investment

Better accuracy in grant management (tracking transition to new grant).
Reduced staff time for allocation process.
Custom reports are helpful at audit time to create SEFA and other required documents.

Performance

The filters on MIP reporting allow us to target transactions by division, fund or account number. We find this especially useful for budget status reports or identifying a transaction error.

Likelihood to Renew

The ease of adding fund sources and accounts, the versatility of reporting and the drill down function are useful features. We are able to provide customized reports for our board of directors.

MIP Fund Accounting was highly recommended by our funding source, as other Workforce Development councils (10 out of 12) in our state used it. We did get other bids for procurement purposes, but MIP was the clear choice for us.

Key Insights

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?

Yes

Did implementation of MIP Fund Accounting go as expected?

Yes

Would you buy MIP Fund Accounting again?

Yes

Other Software Used

LinkedIn Learning (Lynda.com), Microsoft 365, Grammarly

Likelihood to Recommend

We have a fairly complex cost allocation process and MIP Fund Accounting works well to reduce the staff time needed. The ability to create customized reports is a big plus, especially for board requests and detailed reports by fund or grant or division.

Support Headcount Required

2 - Used by CFO and Fiscal manager. I would recommend users have basic understanding of accounting fundamentals.

Business Processes Supported

Tracking fund status
Accounts payable
Reporting to board
Preparing for audit

Innovative Uses

Cost allocation

Users and Roles

2 - CFO, fiscal manager

Products Replaced

Yes - Blackbaud. It was very cumbersome to create reports. MIP has all the reporting requirements we needed. It was recommended by our funding source.

Key Differentiators

Ease of Use
Other

The training provided was outstanding. We needed a better system to track grant status and prepare reports for our board. The onboarding team was extremely helpful in the conversion from our old accounting system.

MIP Fund Accounting Customer Support Pros and Cons

Pros	Cons
Quick Resolution Good followup Knowledgeable team Problems get solved No escalation required Support cares about my success Quick Initial Response	Not kept informed Need to explain problems multiple times

Accounts payable
Cash receipts and journal entries

Difficult Tasks

Cost allocation
Budgeting

Usability Pros and Cons

Pros	Cons
Like to use Relatively simple Easy to use Technical support not required Well integrated Consistent Convenient Feel confident using	Slow to learn Lots to learn

Usability

It works well for what we do. We have developed internal checklists for most functions, to ensure we don't miss creating an essential unposted transaction report.

Highly recommend

Software Version

Overall Satisfaction with MIP Fund Accounting