Healthcare? Grants? Departments? Budgets? YES!
June 29, 2022

Healthcare? Grants? Departments? Budgets? YES!

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

Software Version


Overall Satisfaction with MIP Fund Accounting

We use MIP Fund Accounting for Payroll, Human Resources, and Accounting. In Accounting - my area - we use it for Accounts Payable, partial Accounts Receivable (only non-patient A/R), Cash and Bank Reconciliations, Full GL, Financial Statements, and Budget. We have 3 people working the PR and HR side and 3 people working the Accounting side, so our team is not too large.


  • General Ledger processing, including journal entries and reports
  • Ability to download all reports directly to Excel and PDF formats
  • Use of Grant codes to enable grant reporting by month/quarter/year
  • Ability to have multiple departments and consolidate into groups for reporting
  • Accounts Payable and Accounts Receivable cannot be out of balance
  • Multiple ways to use the product including Cloud and Classic options, Visual menu or Standard (Top of screen) menus to select processes, many options we are not using in our simple organization


  • Chart of Accounts: there is no option to merge or renumber accounts. For instance, once you set up an account in the current asset section, i.e. 1200 Savings account, you cannot change the number or merge it into an LT asset, i.e. 1800 LT Savings
  • Set up: We are locked into the original implementation scenario of multiple Fund numbers (we use only 1) a location code (we use only 1) and a responsibility code (we use only 1) so our account combinations need to start with 1, then GL, Dept, and Grant, then 0 and then 0000 to be complete. So instead of 6000-2010-1000, we need to indicate 1-6000-2010-1000-0-0000
  • After 10+ years we have a lot of GL account numbers, Departments, and Grants which are either I=inactive or D=discontinued and we have to continuously filter them out of our reports such as vendor list, chart of accounts, etc.
  • The aging reports for AR and AP are a nightmare and cannot be trusted
  • You can set up reports that do not balance, i.e. combining reports that do not include all departments because you did not update the filter or options on the report.
  • The training is costly in my opinion. Once you get through the training, you have good takeaways to save time and understand your options, but the cost is an issue. The year that a "season pass" was offered for all the training you could handle was the best! There were all sorts of shortcuts I would not have known about.
  • The training also has the downside of starting with the system implementation and moving forward. Some of this early stuff is truly NA when your system has been in place.
  • We converted to the cloud version a few years ago to reduce our dependency on a dedicated internal IT server which needed to be replaced. The cost of the product switched to a monthly fee which increased cost somewhat but probably is matched with IT savings over time in doing upgrades.
  • We have an efficient team of two people doing the transactional work, so we don't really have much incentive to further automate our processes. And with the turnover in the CFO position we have had, has helped us maintain consistency in our processing.
  • Once I learned how to memorize and recall transactions it was a huge timesaver and increased the accuracy and consistency of our entry.
  • The cost of training is sometimes prohibitive. Example is my accounting clerk MIGHT benefit from additional training but at about $200 for a lot of the courses, it is more than we have budgeted.
We are really currently using only one fund, although back in the early years there was a second fund. We do use departments and grants and generate reports on those breakdowns. Also being able to produce a combining report by divisions (consolidated from departments) has enabled us to generate our required functional statement of expenses that the auditors need.
We really do not have any need to implement a new system. We really do not have any problems with our current setup and do not plan to change it.
I have been at this position for 7 years and don't feel like I am in a position to compare the products.

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


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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?


If you want to use grant reporting and departmental reporting, this product works very well. It works well with basic accounting tasks and reports other than aging. It has a good amount of internal integrity, i.e. you cannot have a difference between your AR sub ledger and the AR general ledger account. This is a great product if you are well skilled in using Excel to convert text to data, create pivot tables and manipulate report presentations. With the cloud version, you have access to a "classic" view that mirrors the former product and a new "online" version which is sometimes easier to use and more visually accessible in some screens.


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