What Is MIP Fund Accounting?
MIP Fund Accounting is a configurable fund accounting solution designed to meet and handle the complex accounting needs of nonprofit financial management. MIP's integrated software solution suite provides general ledger, accounts payable and receivable, budgeting, human resource management, payroll, fixed assets, advanced security and more. MIP Fund Accounting exclusively serves the financial management accounting needs for thousands of nonprofits and government agencies nationwide.
Who Uses MIP Fund Accounting?
Nonprofit organizations, government entities, and tribal organizations
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Reviews of MIP Fund Accounting
Highly functional product for a small, medium, or large non profit organization
Comments: We have used this product for many years for our business and it has served us very well. I would highly recommend it.
1. Configuration of chart of account. 2. Account code combinations to allow for control of account code usage. 3. Import/Export of data functions - We are able to import our 30,000+ lines of data for payroll entry each 2 weeks. 4. Accounts Payable EFT notifications - When we pay vendors via ACH, we set up the system so a notification is sent to the vendor each time we make a payment and it includes remittance details. 5. Administrative access controls. - Admins have the ability to control everything a user needs to see. 6. Customer support is always helpful
1. Although the import function is a huge plus, sometimes I wish we could speed up a the process for larger entries.
Ok for the $, but only if you have it on premises, stay away from their cloud one.
Comments: Loved it when it was on premises, hate their cloud version and the exorbitant prices for services
System is great for the $ but ONLY if you have it on premises. Once you move to the cloud they nickel and dime you to death. Any changes you need, they will charge you dearly for it. For example once we moved to the cloud, adding a new segment and changing history >$7K, I used to have a SQL engineer do it for $1K.
High costs of their customer support for any change
Great software for mid-market non-profits
The Saas version makes it easy to implement and easy on the IT department (they don't have to do anything). It also makes it easy to access from anywhere. We moved from Blackbaud because their system was so clunky and I couldn't get financials out of it easily. With Abila, it's very easy to run a variety of financials that I can tailor to my needs. It's also very easy to drill down (not from the financial reports) to find the detail I'm looking for with links to supporting documents (i.e. invoices). The A/R, fixed asset and other modules let us keep accounting for everything in one place.
The financial reports are a bit limited in terms of showing groupings of departments without being able to show the total on the same report. It can't do monthly balance sheets on one report. And you can't enter operational/non-financial data for more comprehensive reporting. The wait time for calling into their help center is still unacceptable (hold times of no less than 30 minutes). They know about this and, instead of fixing it, tell users to use their chat function. While their response time on chat is very fast, I hate having to type out my issues and responses. I just want to talk to a live person.
Comments: Overall very happy with MIP and the way it works. It was a good choice for us!
MIP is a great fund accounting software. It has been very valuable for our organization and makes it easy to keep everything in order and organized.
System is sometimes glitchy and it's hard to find tutorials for learning new things in the software.
Excellent for non-profits, but it could be even better
The best thing is the multi-dimentional logic built into the product, which enables it to track almost any measure (P&L, Balance Sheet) across various dimensions (company, department, program, grant, restriction type, etc.) This gives you almost total flexibility to manage your organization's finances in any way you want.
My only pet peeves - none of which are deal-breakers - are: - Lack of drill-down capabilities straight from the reports. Say you run a P&L report and want to know the details behind a certain expense figure. In QuickBooks, you can just double-click on the figure and get a detailed report of the details behind it. In MIP you are forced to run a separate Transactions report. The information can still be obtained; it just takes longer. - No "Balance Sheet by Month" report. This is another basic report that even Quickbooks has. It's very important when you're analyzing your historical results. - The documentation is horrible. There are no examples whatsoever. You need to know the system already in order to understand what the manuals mean to say. - Certain reports should give you the codes along with their names. For example, a Distribution Codes report tells you that code 1125 splits costs 40% to Program 254 and 60% to Program 350. But the report doesn't tell you that code 1125 is for employee "John Do", Program 254 is "Advocacy," and Program 350 is "Shelter". You need to run a separate Chart of Accounts report and then do vlookups. This should be a really easy thing to code into the package.