Sage MIP Fund Accounting is a financial software product designed specifically for nonprofit organizations and government entities. Modular in structure, the system would be an excellent fit for mid-sized organizations that require a product that’s scalable and flexible.
BASIC SYSTEM FUNCTIONS
Sage MIP Fund Accounting can be installed on-premise or users may opt for the hosted version, which eliminates any installation issues. The Sage MIP interface contains a drop-down menu bar at the top of the screen. The Navigator to the left is a vertical menu that contains a list of options found in each of the installed modules. The main screen features a workflow diagram with functions found within each specified module. To the right, the process manager contains functions within each module, where users can choose and save frequently accessed functions and reports. Data-entry screens are well designed and provide users with necessary lookup options. Tabs provide easy access to additional entry options.
Sage MIP Fund Accounting offers more than 25 different modules, with the core system containing System Manager, GL, AP, AR Reporting, Budget, Bank Reconciliation, Data Import/Export and a Forms Designer. Other modules available include AR, Advanced Security, Data Consolidation, Direct Deposit, Electronic Funds Transfer, Electronic Requisitions, Encumbrances, Fixed Assets, GASB, Grant Administration, Payroll, Sales Orders, and several others. This extremely scalable product offers a core single-user system or a complex financial product containing numerous modules … or anything in-between, with the ability to add modules as needed. 5
CORE NFP/FUND ACCOUNTING CAPABILITIES
Sage MIP Fund Accounting contains a table-driven chart of accounts and allows users to define a custom chart of accounts using an unlimited number of segments. Numerous transactions types can be processed, including system allocations on either cost or revenue at varying levels, such as program or grant level. Encumbrances can be easily added to the budget reserve. The Budget module contains excellent drilldown capability, and budgeted amounts are quickly accessed for review. Multiple budgets can be set up for grants, funds or programs spanning multiple fiscal years. Budgets can also be set up by account segment if necessary.
The Sage Fundraising add-on modules offer a complete donor management system. Donors can also be tracked in the AR module. The Grant Management module allows for tracking of all aspects of a grant from pre-award status to grant close-out records. All activity, including current invoices, payments and credits can be easily monitored for each grant. Sage MIP provides tools to ensure that all fund accounts are in balance and provides users with the flexibility to set up multiple fiscal years for each grant, fund or project in the system. Audit trail functionality is also found throughout, making it easy to track system usage and transaction processing.
Sage MIP features a long list of e-features, including EFT capability, automated bank reconciliation using the Data Import/Export module, and the ability to process electronic requisitions. Donor statements and invoices can also be emailed. 5
Sage MIP contains a selection of financial dashboards designed to provide an up-to-the-minute status of an organization. Dashboards contain drilldown capability, allowing users to track program effectiveness throughout its existence. Customized budgets can be created for all existing grants and programs. What-if scenarios can be created by entering alternate results for all budgeted items in order to determine the best possible outcome. Sage MIP offers excellent multi-level security, with the ability to provide specific system access by individual or by group. Users can activate the warnings feature to be notified if an invoice will create an over-budget situation. Comprehensive AR management reports can be run for add-on modules designed to manage donor information as well as track donations and assist with program development. Documents can easily be attached to a corresponding file for better organization. 5
FINANCIAL STATEMENTS & REPORTING
Sage MIP offers easy report customization capabilities, with the ability to customize system reports or create new ones. The latest version of Sage MIP has more reporting options than ever, with expanded Form 990 reporting and more flexible GASB reporting. Financial statements are professional in appearance, and include financial, management and analysis reports. Grant reports provide detailed information on costs, allocations and budgets. The Data Import/Export feature allows users to import Excel spreadsheets, cash receipts, timesheets and more. Users can also export reports to Excel, Word or HTML files. 5
Sage MIP can export data to Excel, HTML, PDF or Word. All modules integrate with each other and can be added as necessary. Those using the hosted version of Sage MIP can easily add their accountant to the list of approved users. 5
Sage MIP offers an excellent Help function, along with a series of product guides in PDF. Sage also offers an online knowledgebase and a user forum. System updates can be downloaded from the Sage website when convenient, although users of the hosted version will receive automatic updates. Training options vary, with website, onsite and classroom training available. Both product maintenance and support plans are available and offer access to all product releases, along with unlimited toll-free telephone support. 5
SUMMARY & PRICING
Sage MIP Fund Accounting is currently priced at around $3,000 for a single-user system, with additional modules available starting at $495. Designed for mid-sized organizations, the system can adapt itself to work effectively in organizations of any size.
2010 Overall Rating 5