Item: MIP Fund Accounting
Rating: 10
Author: Sarah Gruver

Use Cases and Deployment Scope

We currently use MIP Fund Accounting for all Financial and HR functions. We are currently implementing EWS for our timesheets. By using it for both Finance and HR, we decrease double entry that would happen without it. We are also able to create a financial packet for our Board. Both of these reasons alone, save us a ton of time.

Pros and Cons

The system is designed specifically for non-profit enterprises and their needs. Everything from account codes to audit logs; nothing is left out.
The report function is great. You are able to create pie charts and bar graphs, from organization wide down to individual grants.
I love that I can process 941s and other tax forms right from the software.

I've sat on several trainings and I feel that they are basic and broad. More real-life and in-depth examples for people that have been using the software would be great. I think the trainings are more geared to those that are just beginning to use MIP Fund Accounting.
I would like to see MIP Fund Accounting create a bank feed function to be used to aid the bank reconciliations.
For EWS, I think it would be beneficial for employees to still be able to track their hours worked in each grant per day; instead of having to break those hours up in a Cost Center on time entry for each day. This gets very daunting for some folks that have 5 or 6 splits, to record that each day. We've set these people up with a Cost Center using a distribution code; but it would still be beneficial for an auditor to see an employee document their hours worked per grant each day.

Return on Investment

The Accounting and HR teams have been able to eliminate double entry, and therefore free up a lot of time.
With the budgeting module, we have been able to obtain a firm grasp on our grants and utilize those funds in the best way possible.

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?

I wasn't involved with the implementation phase

Would you buy MIP Fund Accounting again?

Yes

Support Rating

Putting in a support ticket is very easy and they usually respond the same day. I've only had great experiences when needing to use support.

Usability

I find MIP Fund Accounting easy to use, but I also minored in ERP systems in college. If you are a tech savvy type of person, you wouldn't have much trouble. However, those that are not tech savvy, may have difficulty. The good thing is, MIP Fund Accounting has a help page on every single screen; so if you have questions, the help button will address issues on that specific page.

Alternatives Considered

I cannot comment, since I was not at this agency when the decision was being made.

Likelihood to Recommend

MIP Fund Accounting is definitely a must have for larger non-profit organizations. The system has thought of everything you need from financials for your Board, to timesheets, to HR. MIP Fund Accounting also provides revenue & expenditure and general ledger reports that are vital for us getting reimbursements from our grantors. I also love that my quarterly tax reports can be populated and completed right in the software.

MIP Fund Accounting Rock Star

Software Version

Overall Satisfaction with MIP Fund Accounting