Sage MIP Accounting

Electronic Funds Transfer

Designed to complement the Accounts Payable module and seamlessly integrate with the General Ledger, the Electronic Funds Transfer cash flow management module saves you time and money by issuing electronic vendor payments for a safe, inexpensive, and predictable payment alternative to paper checks..

Key Functionality:

• Improve your cash flow management by designating when payments are taken from your account, making cash flow predictable
• Easily designate which vendors should receive electronic payments
• Process electronic payments using the same easy-to-use select and pay processing method used for Accounts Payable checks
• Easily transmit payments directly to your bank with an easy-to-use terminal interface that allows you to dial and send your electronic payments from within the Sage MIP Fund Accounting system

Accounts Receivable

Time-saving modules facilitate smooth processing and provide critical accounts receivable analysis information, freeing up your time for other tasks.

Key Functionality:

• Detailed accounts receivable analysis lets you update customer records on-the-fly while entering receivables transactions
• Easily track complex invoices across an unlimited number of reporting segments
• Slice and dice billing history to generate comprehensive sales analysis, plus customize or select from the many ready-to-use reports
• Easily create unlimited charge codes that calculate automatically using flexible accounts receivable analysis processing with full integration with other Sage MIP Fund Accounting modules
• Quickly generate invoice on the fly, plus calculate, review, and adjust multiple invoices before printing to produce detailed statements and invoices

Encumbrance

Easily reserve budget for planned expenditures and financial commitments with the Encumbrance module. Improve your internal tracking and external compliance for administering and reporting on encumbered funds.

Key Functionality:

• Enter your encumbrances using the spreadsheet-style entry or generate them using the integrated Purchase Order module
• Maintain a complete audit trail with support for full or partial encumbrance liquidations and pre-encumbered funds for later application
• Verify available budget prior to making a purchase with included encumbrances in budget checks
• Select from a number of ready-to-use Encumbrance Analysis Reports, such as encumbrance summaries or aging reports, or create your own

Accounts Payable

Now your accounts payable process is easier than ever! Flexible and easy of use, the Accounts Payable module lets you to set up and track an unlimited number of accounts. Accounts Payable transactions also simultaneously update the general ledger and vendor accounts and let you easily track vendor payments by vendor.

Key Functionality:

• Easily process invoices, checks, full or partial payments, or even issuing payments from multiple accounts
• Time-saving entry features let you balance your payables entries or allocate them using the distribution feature—automatically
• Quickly check vendor balances on-the-fly and drill down to the accounts payable process details for any transaction with the flexibility to customize or select from the many ready-to-use reports
• Easily monitor outstanding payables, top vendors, and more using the one-click navigator analysis views and the system graphing tools
• Maintain and report on payables history for an unlimited number of years

Fixed Assets

The Fixed Assets module provides your organization with a powerful tool for tracking assets, easily calculating depreciation, and automatically allocating depreciation and disposal entries in the general ledger.

Key Functionality:

• Maintain detailed records of fixed assets by attaching important documents to asset records
• Use Quick Asset Entry to enter fixed assets on-the-fly while recording invoice or purchase entries
• Flexible depreciation options allow you to use the standard depreciation methods included in the system, or set the depreciation interval and perform calculations on your schedule
• Generate accurate, distributed entries for the general ledger, distributed across programs, departments, and more using percentages, fixed amounts or units such as square footage
• Use the powerful reporting options to easily research questions regarding fixed assets for complete asset tracking

Allocations Management

Do you need to perform complex allocations of indirect costs? Do you have multiple funding-sources' investments pooled for higher return requiring interest-earned allocations? The Allocations Management module performs your complicated allocations with the click of a button. Calculate, review, and generate allocation entries using a flexible, easy-to-understand toolset offered within your accounting system while maintaining a complete audit trail and eliminating the risk of spreadsheet errors.

Key Functionality:

• Allocate direct costs, indirect costs, interest earned, dividends, and more
• You can perform allocations on virtually any account balance at the program level, department level, grant level, or across multiple segments simultaneously
• Establish allocation codes to set the calculation parameters you need
• Build sequential allocations dependent upon previous calculation results within a single calculation
• Limit allocations to avoid exceeding contractual indirect cost limits

GASB

The GASB Module includes all the tools you need to easily produce Governmental Accounting Standards Board-34 required reports, plus accomplish the difficult task of producing the complex, intricately formatted GASB-compliant Government Wide Statement of Activities. With the powerful, easy-to-use report writer you can also create and produce all necessary GASB-required statements up to highest accounting standards.

Key Functionality:

• Report fixed assets in the Government-wide Statement of Net Assets
• Report depreciation on capital and infrastructure assets
• Divide net assets into different categories for convenient financial reporting
• Report depreciation expenses in the Statement of Activities

Bank Reconciliation

The Bank Reconciliation module makes reconciling your cash accounts simple and easy, giving you immediate access to cash transactions for instant reconciliation.

Key Functionality:

• Reconcile an unlimited number of cash accounts independently and as frequently as you need with hassle-free bank reconciliation processing
• Monitor bank balances and cash transactions, record discrepancies, and track suspense items, such as bank errors or disputed transactions, plus produce post-reconciliation reports
• Save time and eliminate duplicate data entry with automatic updating of clearing details retrieved within Bank Reconciliation Analysis reports
• Automatically clear checks and deposits with information from your bank with the Data Import/Export module

Grant Administration

Nonprofits don't have to buy stand alone grant management software; they can get it directly in their accounting systems. For many nonprofits, acquiring, managing and reporting on grants is a central concern and an everyday task that absorbs many staff hours. Use this grant management software to consolidate all grant-related information and documentation and to simplify grant administration and grant management software processes directly in the Sage MIP Fund Accounting system.

Key Functionality:

• Track grantor details including contact information, reporting periods, indirect cost rates, notes, custom fields, and more
• Scan and file all grant-related documents and organize them into pre-award, post-award, and close-out records to quickly access any document
• Forecast expenditures for remaining periods within a grant
• Quickly view all activity including outstanding invoices, payments, and credits for each grant and drill-down to the details associated with every transaction

Budget

The Budget module helps you create and track available budgets for grants, programs, and departments, and extends your reporting power. With it you can easily monitor the performance of budgets and enforce budget compliance by preventing entries that might put you in the red.

Key Functionality:

• Instantly create budgets for any timeframe, including multiple fiscal years and cross fiscal year budgeting for grants
• Easily create and maintain an unlimited number of budgets and financial reports for nonprofits at any level
• Quickly and easily make flexible budget inquiries and check for budgeted amounts, money spent, committed funds, and available budget within the system
• Easily drill-down to detailed entries for a complete audit trail.
• Produce detailed financial reports for nonprofits that can be easily disseminated to your management staff and board of directors for more accurate forecasting and budget analysis

Multicurrency

The Multicurrency module allows you to process transactions in any number of currencies while fully complying with FAS 52 regulations within a true nonprofit accounting environment.

Key Functionality:

• Automated settlements of open invoices generate FAS 52 compliant transactions within the system’s already easy-to-use transaction entry process
• Create and process transactions in any number of currencies
• Maintain an unlimited number of active currencies, rates, and rate types
• Report on recognized gains and losses within the easy to use award winning report writer
• Produce financial reports in any active currency for interested recipients

Data Consolidation

Do you have chapters, local offices, or field locations that maintain their own accounting books day-to-day, yet you need to see aggregate and comparative reports? The Data Consolidation module makes it easy to generate consolidated reports from independent locations that use any Sage MIP Fund Accounting product.

Key Functionality:

• Consolidate data from any Sage MIP Fund Accounting Product
• Consolidate data from independent Sage MIP Fund Accounting data sources to produce aggregate financial statements or to generate comparative reports for more effective decision-making
• Enter information only once and use it in the production database and for consolidated reporting
• Custom reports from the component databases are included in the consolidated organization when you perform a consolidation
• Adjust balances and create elimination entries in the consolidated data to ensure accurate consolidated reports

Payroll

This nonprofit payroll module gives you a powerful tool to track employee service efforts, easily produce a timely and accurate nonprofit payroll and generate fully distributed accounting entries.

Key Functionality:

• Maintain detailed profiles of your employees including pay information, demographics, emergency contacts, review dates, and performance notes
• Group employees by pay cycle or department to facilitate nonprofit payroll production, distribution, and reporting
• An unlimited number of customized nonprofit payroll codes can be created for earnings, benefits, deductions, worker's compensation, leave, and more
• Timesheet templates are stored to simplify detailing payroll codes for each employee
• Users have a choice to distribute earnings by percentages, dollar amounts or units

Direct Deposit

The Direct Deposit module lets you exercise more control over payroll processing disbursements while giving your employees the convenience of electronically depositing their pay. Direct Deposit, which integrates seamlessly with the General Ledger, is designed to complement the Payroll module.

Key Functionality:

• Allow your employees to deposit pay into multiple bank accounts, including both checking and savings account types
• Automatically send your NACHA-formatted direct deposit file from the Sage MIP Fund Accounting system directly to your bank through a convenient terminal interface
• The audit trail clearly tracks payment type issued to employees
• Improve cash management by designating when payments are taken from your account for predictable cash flow
• Override direct deposit for special circumstances, such as bonus checks