2019 Review of MIP Advance Fund Accounting

From the 2019 reviews of nonprofit accounting systems.

MIP Advance Fund Accounting from Community Brands offers fund-based accounting capability and is a good fit for small to mid-sized nonprofit organizations and government entities. MIP Fund Accounting offers a wide variety of modules for users to choose from along with core modules which include GL, AP, AR, Bank Reconciliation, Budget, Data Import/Export, and Forms Designer. Community Brands also offers MIP Fund Accounting for nonprofits that prefer on-premise deployment.

The 2019 edition of MIP Advance Fund Accounting offers a variety of product updates such as improvement security encryption, timesheet enhancements, and payroll tax updates.

The system includes a table-driven chart of accounts structure that offers flexibility; with users able to configure multiple account segments in varying lengths that suit their organizational structure. Community Brands personnel work closely with all new customers to create the initial chart of accounts structure that best suits their organization. The program easily processes a variety of transaction types including journal entries, cash receipt processing, cash disbursements, allocations, encumbrances, and purchase order options. The product also includes excellent budgeting capabilities.

Users can create an unlimited number of custom budgets in MIP Advance, with budgets able to reflect any time frame, including across fiscal years. The product also contains a forecasting feature that allows users to easily forecast future income and expenditures, and the included “what if” option allows users to create a variety of budget scenarios to determine the impact specific actions will have on the organization.

MIP offers a variety of optional fundraising modules for nonprofits including Fundraising 50 and Fundraising Online.  Fundraising 50 is useful for donor cultivation and retention, while Fundraising Online offers a variety of online fundraising options such as online giving platforms, event management capability and the option to implement peer-to-peer fundraising for the organization. Though there is no specific grant management module, nonprofits can track grant activity with the flexible account structure. There is also an optional Allocations module that allows users to record direct and indirect allocations by percentage or transaction.

MIP Advance Fund offers solid system security with the 2019 edition of the application offering enhanced database encryption to keep confidential information safe. There is also an option to limit access to sensitive data such as project budgets and payroll information.

MIP Advance Fund offers a good selection of standard system reports that are fully customization.  The product also includes built-in reporting tools that assist users with creating reports. Users can easily create reports across fiscal years, and the product contains good non-profit specific reporting options including Statement of Revenues and Expenditures, and Statement of Cash Flows.  Add-on modules such as Accounts Receivable Reporting, that allows users to create customer invoices and statements. The Drillpoint option offers financial statement customization along with the ability to create graphs and formulas. All MIP Advance Fund reports are easily displayed on screen, emailed to recipients, exported to Microsoft Word and Excel, or saved as a PDF or HTML file.

Along with the core modules mentioned earlier, MIP Advance Fund offers a variety of add-on modules, with all modules working together seamlessly. Add-on modules include payroll and employee management modules, Electronic Requisitions, Encumbrances, Fixed Assets, Purchase Order, Advanced Security, Allocations Management, and various reporting modules including Drillpoint, GASB Reporting, and a Data Consolidation module.  There are also optional fundraising and donor management modules available, and a marketplace offers users easy access to Community Brands business partners, implementation partners, and product partners.

Users can access system help and support options through the Support Center, which offers a variety of tools and resources to registered users, including access to the Knowledgebase, Community Forum, and Subscription Center.  Toll-free telephone support is available during regular business hours, and users can also access product support via email or chat. Community Brands offers various product training options which include online, classroom, and instructor-led training, along with access to numerous whitepapers. A resource library is also available that offers access to a variety of articles, documents, and informational webinars.

MIP Advance Fund Accounting from Community Brands is an excellent solution for small to mid-sized nonprofit organizations that desire a scalable product that can grow with their organization. Pricing for MIP Advance varies, depending on the number of system users and modules that are licensed.  The product offers monthly subscription pricing, which can be obtained directly from Community Brands . Product implementation is typically completed by Community Brands personnel or authorized resellers and is charged separately.  

2019 Rating – 5 Stars