The Benefits of Updated Software

MIP helps your business office increase efficiency and streamline operations. MIP handles intricate financial processes in a streamlined,
user-friendly system and makes managing finances, tracking every fund, and following
every dollar simple.

Your business office can enjoy several benefits from upgrading its accounting software, including:

Unlimited tracking:

Our unique, flexible Chart of Accounts structure allows you to track an unlimited number of funds, grants, services, projects, locations, and more, enabling you to create reports that are meaningful for you and your stakeholders while staying compliant with state, county, and federal audit reporting standards.

Accurate Reporting & Accountability:

With 340+ built-in reports, MIP makes telling your school’s story and staying accountable to your board, parents, and other stakeholders simple. With
drag-and-drop reporting, you
can customize your reports to
fit your school’s individual needs and create reports without
third-party integrations.

Complete budgeting:

Create and collaborate on unlimited budget versions and build budgets against grants that span multiple periods. Improve staff efficiency with access to financial data in an integrated system, track expenses against grants, and quickly generate budgets to actuals to ensure you’re solid fiscal stewards. Consider “what-if” scenarios and create budgets to prepare for the unexpected.

Reduce human errors:

With all your information in one system and optimized workflows, fund accounting software helps your business office lower the chance of human error by minimizing data entry errors
and flagging anomalies.

Audit preparation:

Auditors assess your school's internal controls, audit trail, and, most importantly, where and how your school spends funding. Auditors want to ensure your business office correctly allocates the funds it oversees. If your organization has its figures spread throughout multiple systems, it creates inefficiency that will add time and confusion when an audit begins. Fund accounting systems like MIP feature robust internal controls, a complete audit trail, and executive view licenses you can share with your auditor to view your finances without making changes.

Lower operational costs:

Adopting multi-purpose,
cloud-based software decreases your business office’s technology spend and lets your team work wherever they have an internet connection. Cloud-based software keeps your organization more secure with
industry-leading security functions.

“MIP Fund Accounting is being used as our
primary accounting software for 32 schools and the
company that manages it. We have several add on
programs that we have joined with MIP for budgeting,
accounts payable, and expense reimbursements.
Prior to using MIP Fund Accounting, we were using
QuickBooks. It was not robust enough for our growing
organization. We have a finance team using MIP and we
have others that have a type of read only access.”

Employee in Finance and Accounting

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