MIP Fund Accounting Reviews & Product Details

MIP is easy to use and the screens are all similar meaning it's easy to understand. I like the reporting function as I can pull data from the system and download it into excel and do my data analysis quite easily. I like you can create 4 segments which allows me to track expenses or create P&L's by any of those segments. It's a great software if you have to track grants. Review collected by and hosted on G2.com.

I wish the creation of imports were easier, and I would like the software to track statistics better so I can use them in reports. Review collected by and hosted on G2.com.

The system makes it easy to track funds across multiple programs, manage grants with precision, and generate detailed reports that keep everything compliant and organized. It saves time while giving me confidence that the numbers are accurate. Review collected by and hosted on G2.com.

Some tasks take extra steps that could be streamlined, and new users may need more training than expected. However, once you’re familiar with the system, it does its job well. Review collected by and hosted on G2.com.

Core Fund Accounting Capabilities: The fundamental strength of MIP lies in its dedicated fund accounting features. This is a significant "win" as it addresses the basic, crucial needs of organizations requiring true fund-based financial management.

Potential for Powerful, Complex Operations: I appreciate that the software has the capacity to handle complex accounting scenarios, suggesting a robust underlying system.

Useful Financial Tools:

-Distribution Codes: These are a valuable feature for managing financial distributions.

-Allocation Codes: The concept of allocation codes is beneficial for assigning costs or revenues (though with caveats on flexibility, noted below).

Import Functionality: The ability to import data is a helpful feature that can save time and reduce manual entry.

Flexible Reporting (with a caveat): The reporting system offers a degree of flexibility, which can be powerful. Review collected by and hosted on G2.com.

Significant Lack of Integration: A major "dealbreaker" is the software's inability to integrate effectively with other systems and apps. This creates data silos and inefficiencies.

Limited Flexibility and Customization: Another key "dealbreaker" is the general lack of flexibility in many features and the difficulty in easily customizing the system to specific organizational needs.

-Allocation Code Limitations: Specifically, allocation codes are less flexible than desired, limiting the ability to filter down to more granular levels within a pool.

Clunky and Burdensome Modules:

-Generally, modules feel like they could and should be more efficient and user-friendly.

-The Accounts Payable module, in particular, is clunky and burdensome to use.

User Interface and Navigation:

-The design is basic and can feel outdated.

-It's often confusing to navigate and find where to perform specific tasks, leading to inefficiencies.

Overly Complicated Reporting Output: While flexible, the reporting tools can be overly complicated, making it difficult to extract the precise information needed without undue effort.

Ineffective Customer Support:

-Support responses are slow.

-Support staff don't seem to possess in-depth knowledge of their own product.

-Advanced training and more comprehensive solutions appear to be gated behind paywalls, making it difficult to get the help needed without additional expense. Review collected by and hosted on G2.com.

I like MIP Fund accounting software because it helps me track all the grant expenses. We received multiple grants funding, this is crucial because we have to provide different reports for different grantors in order to get the funding from the grantors. Review collected by and hosted on G2.com.

The module that I dislike is the Accounts Receivable, the reason being is a little complex to setup different criteria. I wish that it could be a little easier for the users to set it up. Review collected by and hosted on G2.com.

Can have robust reporting and helpful tracking for lots of departments, units, programs, grants, etc. Review collected by and hosted on G2.com.

It is not user friendly and it is not intuitive. It's very hard to maneuver. Finding answers is difficult through their Knowledgebase. I find I have to call them to find out how to fix or do something instead of finding out on my own. Review collected by and hosted on G2.com.

MIP is easy to use once trained- but I feel that with changing times, they should offer more training opportunities free of charge for the entire staff using the product. For example, reporting requirements have changed, but the system has been set up in way that new reporting standards can't take place, unless you are trained on them. MIP has a good interface, but many things about the usage are unknown, I am sure there are short cuts, that my staff is unaware of to make work more efficient. Review collected by and hosted on G2.com.

The lack of free resources for support. Everything leads to buying a training- even for new employees. There is no easy to way upload a budget into the system. The processes seem tedious and not easy to do. It would be preferred if a budget spreadsheet could be uploaded in the system. I think many things that I dislike go back to the training aspect. Since MIP isn't that well known, not many people being brought in are versed in it, and the lack of training and support by MIP makes the learning that much harder. I would recommend that MIP give their customers a training session on a yearly basis for new features and new processes that have been introduced in the system. Review collected by and hosted on G2.com.

The fully comprehensive suite of accounting, payroll, and HR makes workflows nice and simple. On top of that, you won't find a comprehensive suite for such a low price Review collected by and hosted on G2.com.

Could use more ground-floor training to ensure all features are utilized. Need a grants management module in order to properly track all funding sources and requirements. Budget system is bulky, at best. Review collected by and hosted on G2.com.

Works well for what we need it for. I like all the reports we can get to do what we need. Review collected by and hosted on G2.com.

Getting what you need can sometimes be tricky. I've had to call the support center more than once to get an answer. The support center is helpful, which is nice. Review collected by and hosted on G2.com.

I like it because of its advanced security and ability to enhance fraud protection. Transactions are well recorded and data is kept safe. Unlimited budgeting and forecasting of scenarios. Through recording of current transactions, you can predict future things like financial position. It is fast and easy to understand. You can have access from anywhere and anytime. It is very user friendly hence can be easily used by individuals who are new to it. Through easy access of data, you can make better financial decisions and execute financial management with greater precision. Tracking, analyzing and reporting on the data is the best our company has ever had. Reports and dashboards are of high standards and customizable. Review collected by and hosted on G2.com.

Very few modifications in the reporting module. No more dislikes Review collected by and hosted on G2.com.

Segment accounting. Lots of features for non-profit accounting. Allocation module automates processes that were once manual. Review collected by and hosted on G2.com.

Antiquated programming. Glitches. Not user friendly. Non logical reporting system. Review collected by and hosted on G2.com.