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MIP: for non-profits who want an accounting system that they will not outgrow
July 21, 2021

MIP: for non-profits who want an accounting system that they will not outgrow

Bob Simpson | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Software Version

Other

Overall Satisfaction with MIP Fund Accounting

I have many clients in the not-for-profit arena and fund and contract accounting is a huge part of their operations. MIP is the defacto leader in this area. Some clients use it right out of the box, just in the finance offices. Others, generally larger organizations, take advantage of integration capabilities, both inherent and developed by my organization to automate labor intensive reporting and data input task.
  • Multiple segment fund and expense recording
  • Versatile chart of accounts development
  • AP approval process and expense scheduling
  • Speed and stability
  • Bank reconciliation is a little cumbersome for small organizations.
  • No automated backup from within program. Does have manual backup.
  • Little flexibility in customizing check printing - must use approved stock.
  • Reduction in FTE hours on reporting and tracking
  • Low TCO for mid to large organizations
  • Ability to make quicker cash decisions
  • Better operational control of multiple income and expense streams for quicker understanding of current positioning.

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

While MIP rarely answers when you call, they have never missed their SLA obligation and [are] usually faster than it requires. They jump right into the issue without 20 layers of people who barely know what program you are calling about never mind CPA level accounting issues or large setup issues.
While it does require training, and I would suggest it be on site if possible or at their corporate training offices, most users adapt to it quickly. Most parts of the program have very similar layout and functionalities and ability to have tasks/reports pre-configured.
TCO, reporting, flexibility and support are at the level you require in a large non-profit arena.
MIP is best implemented where many sources of revenue are present and you wish to track expenses against those revenues. It is overkill for organizations with basic income and expense structures. When you find QB for non-profits can't service your needs, you should skip the intermediaries and jump to MIP. In the long run you will save money and suffer less aggravation with multiple accounting system conversions. I have worked with MIP since the DOS days and despite a few changes in ownership of MIP, the support, updates and quality of the product is outstanding.

MIP Fund Accounting Feature Ratings