MIP Fund Accounting™ is a configurable fund accounting solution. The solution includes functionality for fund accounting, procurement, budgeting, payroll, human resources, timekeeping, fixed asset management, grant management, and dashboards for nonprofits and government agencies.
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Square Payroll
Score 6.1 out of 10
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Square Payroll is a payroll solution for hourly employees, from Square headquartered in San Francisco, California.
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MIP Fund Accounting
Square Payroll
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MIP Fund Accounting
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Community Pulse
MIP Fund Accounting
Square Payroll
Features
MIP Fund Accounting
Square Payroll
Payroll Management
Comparison of Payroll Management features of Product A and Product B
MIP Fund Accounting works very well for general fundraising. The form creation process is easy and allows you to set parameters and add fees, quantities, images, etc. This process is smooth on the customer (forward-facing) side as well. Reports are generated once the transactions have gone through, making tracking and reconciliation with accounting easy.
I would say that Square Payroll is perfect for companies that don't exceed 100 employees. The multistate payroll system allows for us to be able to handle business with ease when we go do work in Mississippi or Arkansas. The multiple payout options are great for our particular business. We might deal with a multimillion dollar contract one day and a $120 order the next.
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
With the payroll process, if there is an error in sending the stubs through email, there is no option to resend without a restore. That really needs to change.
Being able to void encumbrance at the same time as a PO would be an incredible time saver.
[In my experience] they can cancel your service at any time, without warning or explanation. When they do this your funds are held by them for up to 90 days, at which time they are presumably accruing interest on your money. This could take a small business under very quickly and there is nothing you can do about it.
[I believe] getting verified is complex and not customer friendly. Until you are verified you can't talk to payroll customer service, which is paradoxical. Even getting a hold of account services for this purpose is tricky and exceedingly time-consuming, plus they can not answer most questions directly.
[I feel] they don't communicate well, closed my account with no notice whatsoever. The only notification I had about the need to verify my account was one easily lost email. Not having responded to this email fast enough created months of stress and difficulty in the setup process, only to find in the end I would need to start from scratch to attempt to sign up again.
[In my experience] if they close your account you can never reopen it. You have to start a new account from scratch.
[In my experience] they can hold your money and not deposit funds if your account is "under review". This can happen without explanation. No customer service is directly available for this. I was told I had to wait for them to call me.
[I believe] they are either lying, or the left hand doesn't know what the right hand is doing to such an extent that they give a great deal of misinformation.
I give MIP a 10 because Our organization use MIP Fund Accounting ever since I've been there and that's been for over 20 plus years for all of our accounting and payroll. MIP has stayed on the cutting edge of technology, ever evolving to meet the needs of the times, especially post pandemic, while many are working remotely! MIP support staff are very knowledgeable and efficient. Even new users can get up to speed quickly with MIP Fund Accounting.
I don't know what it would be like in the for-profit arena, but for the non-profit arena, it is an excellent product. I love how you don't actually have to close years and are able to get information that spans over the year-end. And the grant tracking is excellent too. It is just an excellent accounting system.
It could use a mobile-friendly interface. Other than that it's a simple layout and non-cluttered which allows you to get done what you need to get done. No unnecessary dodads or distractions.
I have rarely encountered any issues accessing MIP Fund Accounting over the years. On the rare occasions when availability was interrupted, the reasons were always found in-house when using the on-premises version. Since we have migrated to the MIP cloud, we have had no issues with availability. Any maintenance or updates are always communicated to us and are usually done outside of business hours.
MIP Fund Accounting is an important asset for performing search queries. If I had to do a historical search query without MIP Fund Accounting, I very well might have to pull data from three different programs, turn each piece into like-data myself, and then consolidate it all down into interpretive data. MIP Fund Accounting does it all by itself and has a wide array of ways to filter down as specifically or broadly as you want for any given query.
I have not reached out to MIP for technical support; however, their website offers great help resources so I can solve an issue on my own. Another team member reached out to MIP for support and was helped quickly. The transition process took longer than expected due to a lag in communication.
I think they have quick and helpful customer service reps, however, I give them a 9 because I have had to wait on hold for long periods of time before.
There are no specifics on what happens if you make one choice or another to know which is the best selection. This is true for JVs and AP. In training we were not given specifics of what happens when one possibility is selected over another.
The training with Laura was amazing. She had answered all our questions and customized the training to our needs that we are working with and trying to address using MIP accounting. The only thing I wish that could come out of the trainings was to have permanent access to the recordings of our paid trainings we received. They recordings of the training only last for a short time before it goes away which makes it hard to go back and re-watch and learn.
Again, I was not directly involved with the planning and setup of the software. However, I was involved in training my staff during the implementation phase. As with any software implementation, consistency of training is key and a willingness to seek out help from Customer Support helps tremendously to insure accuracy of information and training.
I've utilized other ERP accounting software like Infor, NetSuite, and MS Dynamics, to name a few. MIP Fund Accounting offers flexibility and room for growth while not being overly heavy on your team to maintain it. And, we're now learning more about the add-on's and more advanced capabilities to leverage with our team.
We have tested the QuickBooks Online platform. Before using Square, we tried QuickBooks, but the experience we had was not to our liking. QuickBooks Online is a much more complicated platform to use, the interface is much larger and has complexity in the configuration of the collection of hours of work of the employees. In addition, QuickBooks technical support does not respond in time to users' doubts, on several occasions we had several doubts about the operation of the platform and the response was too late and inconsistent. We decided to use Square Payroll because it offered us a much more accessible UI, a simpler but more precise interface for what we needed in our company, to be able to make payroll payments and make detailed reports on the workers.
MIP is easy to install and use on my work laptop. I can still use the software when travelling for work or when working from home. It is always reliable and effective. This applies to other people on our organization as well. Employees who need access to the MIP database are able to access it from their desktop computers or laptops
When used, it also visibility to how we are using our allotted Government funds. It allows us to make sure we are being efficient with those dollars.
MIP Fund Accounting allows us to be more accurate in posting expenses. It allows us to be sure of which accounts are we are posting to. We can pull those accounts in real time and make sure that our entries are having the desired effect on the accounts involved.
MIP Fund Accounting allows accountability in that we can see who posted what, when they posted, and to which accounts they posted.
