The good, the bad, and the ugly
Updated April 27, 2022

The good, the bad, and the ugly

Anonymous | TrustRadius Reviewer
Score 2 out of 10
Vetted Review
Verified User

Software Version

Nonprofit Technologies (NPT), legacy product

Overall Satisfaction with MIP Fund Accounting

We use MIP Fund Accounting daily as our primary tool to manage our accounts. We have approximately 50 active accounts at one time and hundreds of inactive accounts.

Pros

  • Flexibility to create as many fund accounts as needed.
  • Ability to create a combined statement of revenues and expenses for multiple funds.

Cons

  • Very difficult to use - not intuitive at all; I feel like you really need the training to understand the product.
  • Very little automation; everything has to be manually entered which allows the opportunity for more errors and also requires a lot of double and triple-checking entries.
  • Cumbersome and tedious to use; for example, a journal entry that could be done in two lines on other programs, in my experience, takes at least 6 in this program, sometimes more. When you have to do this repeatedly it takes significantly longer to do everything in this program than it should.
  • Constant issues with reporting; reports are often missing funds or are incorrect and I have to call customer support for help. Most of these issues cannot be resolved immediately and a ticket has to be created to solve them.
  • In my opinion, even simple things don't work properly. We recently found out that when exporting results into Excel, if you select to remove headers and footers with the export, the program also removes some of the data. No telling how long this has been an issue, so now we have a data integrity problem with all of our exports. MIP Fund Accounting says it will fix in the next update so this likely affects other users as well.
  • Because the product is so time-consuming and cumbersome, it creates efficiency issues; everything takes longer than it should to complete, so we have to hire additional staff, especially at peak times.
  • Tediousness results in inefficiencies, lost productivity, and overall negative ROI.
I feel that reporting is difficult to use. Copying existing reports for a new fiscal year is easy but often the data you want to display is not selected, even filtering for the correct data. We routinely have to call support for assistance with reports and most of the issues cannot be resolved during a phone call, a ticket has to be placed for more in-depth examination of the issue. Multiple users cannot run the same report at the same time; so if two people are trying to run an expanded GL, you will have to copy the report and save it with a new name in order to use it at the same time. This results in lots of unnecessary reports in the list. In addition, once you have been using the system for a while you wind up with hundreds of reports in your list of options; there may be a way to archive reports but we have not found that yet so we currently have reports in our list from accounts that are over 10 years old.
Unfortunately, we will likely have to renew our contract for at least another year as we are short-staffed and currently do not have the capacity to examine other software options. We do intend to explore other options in the future but we are a nonprofit so cost will also be a limiting factor for us.

Do you think MIP Fund Accounting delivers good value for the price?

No

Are you happy with MIP Fund Accounting's feature set?

No

Did MIP Fund Accounting live up to sales and marketing promises?

I wasn't involved with the selection/purchase process

Did implementation of MIP Fund Accounting go as expected?

I wasn't involved with the implementation phase

Would you buy MIP Fund Accounting again?

No

The product does allow flexibility to create as many funds as needed with varying start and end dates, which is very helpful when you have a multitude of grants with different start and end dates. Unfortunately, that flexibility results in a lot of extra work to complete routine accounting; journal entries that would normally take two lines take at least 6. And nothing is automated so all of the lines are completely manually entered which allows for human error and requires careful review. I have used a wide variety of accounting software programs and this is by far the worst I've ever used.

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