Your organization is completely unique, and deserves an accounting software that can mold to your financial processes, human resource procedures, and so much more.
Luckily, MIP is a customizable fund accounting software – which is great news for your nonprofit!
Their software can be tailored to your needs by installing modules (think apps) to add various functionalities to the overall platform. From budgeting to bank reconciliation and payroll to advanced security, the available modules can easily take you, your accounting software, and your organization to new organized heights.
Ultimate List of MIP Modules
Below we list all the MIP modules you can add to the fund accounting platform:
Core Accounting Functionality Modules
A foundational module that tracks a variety of financial transactions including cash receipts, cash disbursements, journal vouchers, and more. Also has a report writer directly within the module.
This module is used to centralize all vendor information and automate your Form 1099 production. It also updates your general ledger and vendor accounts simultaneously, streamlining your financial processes.
Accounts Receivable Reporting
Track all your revenue streams and their information with the Accounts Receivable Reporting module.
Using the Data Import/Export module, you can easily reduce errors from manual data entry, transfer information from outsourced payroll systems, and remove duplicate entries.
Effectively manage your bank balances and transactions with the Bank Reconciliation module.
The Budget module allows you to create unlimited, customizable budgets for all timeframes. You can also use it create “what if” scenarios and forecast your position for the future.
Create professional forms for your organization using the Forms Designer module. Forms types include: billing statements, check stock, and purchase orders.
Payroll and People Management Modules
The Payroll module helps you produce timely and accurate pay for your employees and keep track of comprehensive employee information. The module will update with the latest tax rates and keep you tax compliant, at both the federal and state level.
Electronically deposit your employees’ pay into their accounts with the Direct Deposit module.
Using the Human Resource module, you easily update employee records, like education, certifications, benefit plans, and more.
Employee Web Services
The Employee Web Services module gives employees 24/7 access to paystubs, timesheets, and benefit info.
When combined with the Employee Web Services module, your employees can easily manage their own benefits plans, selecting and adjusting their plan as they need.
Stay on top of all requisition requests with the Electronic Requisitions module. You can approve, reject, or check status changes through your MIP software.
Using the Encumbrances module, you can earmark funds for upcoming expenses and include the reserved funds in your reports.
With the Fixed Assets module, you can easily add new, track, and depreciate assets in the General Ledger.
Protect your fund accounting software with the Advanced Security module. Reduce fraud, risk, limit confidential info, and promote accountability.
Accurately and consistently perform easy or complicated allocations when you use the Allocations Management module.
Accounts Receivable Reporting w/ Billing and Sales Order Entry
Using the Accounts Receivable Reporting w/ Billing and Sales Order Entry module, you can create invoices, statements, request payment, and more directly within your fund accounting software.
Pull in data from local chapters or other offices to create comprehensive reports using the Data Consolidation module.
The Drillpoint module allows you to create custom reports for all your stakeholders. You can also dig into your data, add graphs, add formulas, etc. to really maximize your info.
Electronic Funds Transfer – for Accounts Payable
With the Electronic Funds Transfer module, you can control when vendors draft payments and decrease postage costs.
Executive View License
Collaborate with your team when preparing reports or budgets without buying full software seats with the Executive View Licenses module.
WIth the GASB reporting module, you can easily create GASB-compliant reports.
If you work with multiple currencies, the Multicurrency module will keep track of the conversions, process transactions, and create the right financial statements.
Using the Scheduler module, you can automate reports to run whenever you need them – including outside of normal business hours.
Adding modules to your fund accounting software can improve your efficiency, streamline your processes, and help you focus on the things that matter most.