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MIP Pros and cons of the Financial System.
February 23, 2024

MIP Pros and cons of the Financial System.

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

Software Version

MIP On-Premise

Overall Satisfaction with MIP Fund Accounting

We use the MIP accounting system to record items in the general ledger - accounts payable and receivables - to form financial statements. Enter journal entries - cash receipts/disbursements. We enter all assets. At the end of the month, prepare the depreciation. We join the payroll from ADP into MIP through the GL interface, a very reliable system.
  • Easy to do journal entries.
  • Easy to pay bills.
  • Easy to enter assets.
  • Would like to see a preview of entries in the bank reconciliation before posting.
  • It saves the amount of time to prepare the statements /and overall financials, especially where it can be customized.
  • MIP is getting expensive each yearly costs goes up.
The statements can be customized to give the outcome that is needed.
Even though the costs are a little high, it has many good qualities.

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

MIP is suited for preparing financials and making it easy to see the financial outcome the way you want. It is not fit for the bank reconciliation module - I would like to see how it will pan out in the reconciliation before posting it.