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Good Product for the Money
November 21, 2022

Good Product for the Money

Anonymous | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Software Version

Other

Overall Satisfaction with MIP Fund Accounting

We use MIP Fund Accounting's GL, A/P, bank recs, budgeting, and reporting. We process employee reimbursements using the EFT module and are looking at doing this for some of our key vendors. The GL is easy to use and there is the save entry feature, which is nice because I have a lot of monthly entries that I don't have to key in all the time. I also like the reverse and copy option in the GL as well as it saves time. We run monthly revenue and expenditure reports for our budget leaders to manage their projects, making sure their projects are spending the way they should.
  • GL format is easy to enter in.
  • System is user-friendly.
  • You are able to drill down to transaction level.
  • Reporting could be more robust.
  • Encumbrance could be easier to use.
  • No workflow for invoice approval.
  • The GL save entry option has saved time for me as I don't have to key in my monthly entries every month.
  • I also save time by being able to look at unposted entries and review them for errors. I have staff who can make the entries and then I review them.
  • The one negative thing is I have had issues within the encumbrance module. We have multiple contracts with outside organizations and with the emergency funding that was coming in, it was too difficult to try to adjust the encumbrances.
I think MIP Fund Accounting could do better with reports. There needs to be a better way to run reports for projects across multiple budget cycles.
We are considering a new software at this time.
We are in the very first stages of looking at alternative accounting software. Abila MIP Fund Accounting was implemented at our organization before I started and our organization has now outgrown the system.

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?

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

MIP Fund Accounting is a good system for the most part, but it lacks in reporting.