MIP Fund Accounting

Fund accounting for government organizations and nonprofits

4,2 /5 (65 reviews) Write a Review!

MIP Fund Accounting Overview

What is MIP Fund Accounting?

MIP Fund Accounting is a comprehensive, configurable fund accounting solution. With its end-to-end suite of functionality and multi-segmented chart of accounts MIP is designed to meet and handle the complex financial management and fund accounting needs of nonprofit and government organizations. Software is provided via a secure cloud offering and can also accommodate on-premises deployment.

MIP Fund Accounting allows users to manage funds and finances across the entire organization by tracking and reporting on transactions in a precise yet flexible manner via real time reports. Specific grants and funds with an unlimited number of segments can be easily set up and customized to the particular needs and structure of the organization. MIP Fund Accounting enhances visibility with its ability to compare budgets to actuals and budgets by individual grant or program, and enable forecasting with "what-if" scenario calculations. The software's built-in report writer provides over 160 reporting templates and enables user-based tailoring to generate a full spectrum of reports, grant reports, and financial statements. An optional advanced reporting module can be added if more detailed reporting is required.

With robust security and fraud prevention functionality the MIP Fund Accounting system can track side activities performed by employees, flag suspicious transactions, automatically revoke system access after an employee is terminated, and mask vendor account information to keep it from being misused. MIP delivers a fully integrated HR Management Suite to support human resource management, payroll, employee web services, timesheets, and benefit enrollment from one, single solution. Multicurrency, allocations management, procurement and electronic requisitions, and fixed asset modules can be added to the core solution as well as an API that helps connect MIP Fund Accounting to a number of third party systems.

MIP Fund Accounting Overview

Pricing

Starting from
N/A

Pricing options

Free Trial
One Time License
Subscription
Value for money

Contact MIP for pricing details


MIP Fund Accounting Features

Devices
Business size
S M L
Markets
United States
Supported Languages
English

Media

MIP Dashboard
MIP Report Creation
MIP Audit Trail
MIP Budget Worksheet
MIP Dashboard drilldown
MIP Fund Accounting screenshot: MIP Dashboard MIP Fund Accounting screenshot: MIP Report Creation MIP Fund Accounting screenshot: MIP Audit Trail MIP Fund Accounting screenshot: MIP Budget Worksheet MIP Fund Accounting screenshot: MIP Dashboard drilldown

MIP Fund Accounting Reviews

MIP Fund Accounting Reviews

Overall rating
4,2
/
5
Excellent
26

Very good
31

Average
7

Poor
1

Terrible
0

Value for Money
4
Features
4,1
Ease of Use
4
Customer Support
4,2
88% recommended this app
Paul W.

Highly functional product for a small, medium, or large non profit organization

We have used this product for many years for our business and it has served us very well. I would highly recommend it.


Alejandro R.

Excellent for non-profits, but it could be even better


Paige B.

Great software for mid-market non-profits


Brittany E.

Used when it was Sage

When I used this product, I did not work in the accounting department, I worked in the Warranty/Repairs Department of a construction company. However, we used this software to make notes, bill for repairs, find out when a warranty should be issued upon customer being paid in full, and communicate with the accounting department as they were in another building than our department. The invoicing feature was very straight forward and easy to use. Checking if a customer was paid in full was also easy. Making notes was also easy but the categorization of the notes could have been better. It was just a long list with no differentiation or date categorization. You just had to scroll through a giant list of notes to hopefully find what you needed to know, and hopefully someone put a name and a date by the note so you could ask them additional questions if they did not list enough detail. Switching from different screens was a little time consuming. When I used this software, there was no ability to set an action request. I'm sure by now they have changed this and made it possible to set actions or reminders for yourself or others.


Verified Reviewer

Sturdy and reliable accounting software

Overall good, reliable and serves our current needs. We'd prefer a system that did not require annual updates performed by our applications team, but it's something we can live with. Customer support is helpful but can be hard to reach at times.


Paul W.
Industry: Primary/Secondary Education
Company size: 1 001-5 000 Employees

Highly functional product for a small, medium, or large non profit organization

Used Daily for 2+ years
Reviewed on 2018/09/03
Review Source: SoftwareAdvice

We have used this product for many years for our business and it has served us very well. I would highly recommend it.

Pros

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

Cons

1. Although the import function is a huge plus, sometimes I wish we could speed up a the process for larger entries.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 9.0/10

Alejandro R.
Industry: Philanthropy

Excellent for non-profits, but it could be even better

Reviewed on 2014/12/08
Review Source: SoftwareAdvice

Pros

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.

Cons

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.

Rating breakdown

Ease of Use
Customer Support

Likelihood to recommend: 9.0/10

Paige B.
Industry: Civic & Social Organization

Great software for mid-market non-profits

Reviewed on 2015/06/01
Review Source: SoftwareAdvice

Pros

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.

Cons

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.

Rating breakdown

Ease of Use
Customer Support

Likelihood to recommend: 9.0/10

Brittany E.
Industry: Construction
Company size: 2-10 Employees

Used when it was Sage

Used Daily for 1-5 months
Reviewed on 2017/01/20
Review Source: SoftwareAdvice

When I used this product, I did not work in the accounting department, I worked in the Warranty/Repairs Department of a construction company. However, we used this software to make notes, bill for repairs, find out when a warranty should be issued upon customer being paid in full, and communicate with the accounting department as they were in another building than our department. The invoicing feature was very straight forward and easy to use. Checking if a customer was paid in full was also easy. Making notes was also easy but the categorization of the notes could have been better. It was just a long list with no differentiation or date categorization. You just had to scroll through a giant list of notes to hopefully find what you needed to know, and hopefully someone put a name and a date by the note so you could ask them additional questions if they did not list enough detail. Switching from different screens was a little time consuming. When I used this software, there was no ability to set an action request. I'm sure by now they have changed this and made it possible to set actions or reminders for yourself or others.

Pros

Multiple users can be on the program at one time. It is relatively user friendly as long as you have basic computer knowledge.

Cons

The time it took to go from one feature to another was frustrating when you are on the phone with a customer and needed to get to several different places quickly, however, that could have been due to the number of users we had on our server at a given time. If an older person, who has limited computer knowledge were to try and use this program, they may need a training course to become comfortable using it.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 7.0/10

Verified Reviewer
Industry: Individual & Family Services
Company size: 51-200 Employees

Sturdy and reliable accounting software

Used Daily for 2+ years
Reviewed on 2019/12/22
Review Source: Capterra

Overall good, reliable and serves our current needs. We'd prefer a system that did not require annual updates performed by our applications team, but it's something we can live with. Customer support is helpful but can be hard to reach at times.

Pros

It is reliable and doesn't crash. Good suite of features that suit our essential needs, such as payroll, AP, AR, reports, budgets and fund management. Other tools are add ons that we do not currently use but had to contract with a few additional third parties to meet our needs.

Cons

Annual fee and need for annual updates. Normally these are not too cumbersome but occasionally they are more difficult to implement for our applications team and it takes up a good chunk of their time.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 7.0/10

User recommendation
7,9/10
Based on 65 user ratings
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MIP Fund Accounting Pricing

MIP Fund Accounting Pricing

Starting from
N/A
Free Trial
One Time License
Subscription
Value for money

Contact MIP for pricing details

Contact MIP for pricing details

Value for Money
4/5
Based on 65 user ratings
Compare value for money rating with alternatives
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MIP Fund Accounting Features

MIP Fund Accounting Features

API
Accounting Integration
Accounting Management
Activity Dashboard
Audit Trail
Automatic Notifications
Billing & Invoicing
Compliance Management
Customizable Reporting
Data Import/Export
Electronic Payments
Expense Tracking
Financial Analysis
Invoice Management
Invoice Processing
Multi-Currency
Real Time Data
Reporting & Statistics
Third Party Integration
Workflow Management
Features
4,1/5
Based on 65 user ratings
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Categories

Additional information for MIP Fund Accounting

Additional information for MIP Fund Accounting

Key features of MIP Fund Accounting

  • Asset Management
  • Bank Reconciliation
  • Billing & Invoicing
  • Compliance Management
  • General Ledger
  • Payroll Management
  • Project Accounting

Benefits

True, multi-dimensional chart of accounts
Fraud prevention and error protection with advanced security, clear audit trials, and robust internal controls
Only vendor of choice, offering cloud-based or on-premises deployment
Fully integrated HR Management Suite, including Payroll
Able to scale and grow in order to manage unlimited funds and grants

MIP Fund Accounting FAQs

MIP Fund Accounting FAQs

Below are some frequently asked questions for MIP Fund Accounting.

Q. What type of pricing plans does MIP Fund Accounting offer?

MIP Fund Accounting offers the following pricing plans:

Pricing model: One Time License, Subscription

Free Trial: Not Available

Contact MIP for pricing details

Q. What are the main features of MIP Fund Accounting?

MIP Fund Accounting offers the following features:

  • Asset Management
  • Bank Reconciliation
  • Billing & Invoicing
  • Compliance Management
  • General Ledger
  • Payroll Management
  • Project Accounting

Q. Who are the typical users of MIP Fund Accounting?

MIP Fund Accounting has the following typical customers:

Small Business, Large Enterprises, Non Profit, Mid Size Business

Q. What languages does MIP Fund Accounting support?

MIP Fund Accounting supports the following languages:

English

Q. Does MIP Fund Accounting support mobile devices?

We do not have any information about what devices MIP Fund Accounting supports

Q. What other apps does MIP Fund Accounting integrate with?

MIP Fund Accounting integrates with the following applications:

Paypool, TripLog

Q. What level of support does MIP Fund Accounting offer?

MIP Fund Accounting offers the following support options:

Phone Support, Online Support, Forum, Knowledge Base