| Sage MIP Fund Accounting |
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| Written by Scott Koegler | |||
| Monday, 03 September 2007 06:31 | |||
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Sage MIP Fund Accounting Version 7.0 (www.sagesoftware.com) is a versatile, multi-module system that can help to make daily work as well as periodic reporting easier for nonprofit organizations. The system includes a workflow system as well as a flexible reporting system that can be configured to automate much of the routine work required of nonprofit entities.
Sage's installation wizard leads the user through setting the system up in a variety of Windows environments. For first time installations on stand-alone computers, users can opt to use the included MSDN database. For higher performance and for multi user systems, Sage will configure an existing instance of Microsoft SQL that must already be in place on the organization's computer. Sage's MIP includes nonprofit-specific functions that the company describes as designed into the product rather than added on to it. Those features include self-balancing funds, cross-year reporting, and integrated budget management functions. In addition, the system integrates with the company's line of fundraising applications, allowing for direct tracking between accounting activities and donations. An additional 20 or so modules are available and integrate directly with the system. These include Grant Administration, Budgeting, GASB Reporting and others. While this makes MIP highly flexible, it also means that any installation will include more than the single MIP module. In Use MIP's main screen makes operations easy for both the uninitiated and experienced user by offering a full compliment of navigation options. The system's main screen offers a list of modules along the left side of the page from which the user can select. Once the module is selected, a workflow diagram is displayed with icons that represent the various functions and their relative position in the sequence of processes. For example, designing and modifying the chart of accounts appears before defining account code combinations, then followed by optional functions to work on distribution codes, assign offset accounts, and assigning closing accounts. The steps of entering journal entries and posting transactions are shown as separate processes. In another panel to the right, the list of reports available for the module are shown. As part of the account setup, I was able to create my own fields (Sage describes these as unlimited in number). These are helpful in maintaining notes and specific information regarding the details of funds sources, vendors, and notes about specific transactions rather than depending on separate notes. Most modern general ledger applications include the ability to drill down into the details of transactions. MIP includes this drill down ability as well, and makes it easy and intuitive to use. A unique feature is MIP's Executive View. This is more a licensing issue than a particular feature that accomodates executives who are more interested in viewing information than in processing it. Executive View is a heavily discounted license that can be configured to the specific needs of an executive who needs to keep up to date on balances, operating results, and budget status. However it does not allow access to accounting transactions. This arrangement is particularly helpful when creating budgets, as these licensees have the ability to create budget proposals that can be viewed by other members of the team, modified, and eventually merged directly with the MIP budget system. After my own experience working with multiple versions of spreadsheets, consolidating the work of multiple users, only to finally rekey the spreadsheet budget into an accounting application, I understand the frustration this kind of tool can prevent. Recap | |||
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About the Author: Kurt Martin is a Founder and Group Publisher of Progressive Media Group (PMG) and the Publisher of Nonprofit Technology News. During his 4 years as Publisher of The NonProfit Times, he grew the imprint from a single newspaper to a community of websites, online job boards, email newsletters and digital editions of the print editions. Prior to taking the role of Publisher he was the East Coast Sales Manager for Broad Daylight, Inc. a knowledgebase company. He also held management roles in advertising and ciruclation sales at American Banker/Bond Buyer (Thomson), Faulkner & Grey (Thomson) and SourceMedia (Investcorp.) Kurt graduated from Montclair State University with a B.A. in Political Science and Public Administration. |