Posts by MIP Team
Helping High Schools Streamline Their Financial Processes
With limited funding, high schools face the constant challenge of supporting student outcomes and district academic performance while optimizing the available resources. High school financial officers must complete complex accounting tasks year-round to align their funding with their programs, expenses, and educational goals. A lack of streamlined financial processes makes ensuring student success a struggle.…
Read MorePreparing K-12 District Leadership for Financial Reporting and Auditing
Financial reporting is one of the major responsibilities of a K-12 school district school board. Financial reporting for school districts is an often complex process that requires thorough planning, record-keeping, and documentation. Since school board members have various backgrounds and experiences, completing financial reporting may be a more familiar process for some. As you prepare…
Read MoreNew Year’s Activities for K-12 Students
As the year comes to a close, many teachers and faculty start planning parties to celebrate. Keep reading for some New Year’s activities for students. 1. Learn About the History of New Year’s Celebrations Students of all ages can have fun learning about the history of their favorite traditions and the holiday. You can devote…
Read MoreHow to Observe International Fraud Awareness Week
Nine percent of nonprofits are victims of fraud every year. While that may seem like a low number, the average loss of these fraudulent activities rose to $639,000 in 2020 for nonprofit cases alone. Losing any amount of funds or data due to fraud can damage your nonprofit’s mission and make it difficult to support your beneficiaries. International…
Read MoreWays to Optimize the Technology Your Organization Already Has
Any organization that utilizes technology should evaluate its systems periodically. Optimizing your existing tech can help your mission save money and get more out of your investments. From getting your team involved in ongoing training to reaching out to customer services, there are a few different ways you can get more out of the systems…
Read MoreIntegrate Your Financial Accounts for Instant, Accurate Data: Here’s How
Today, when everything from vacuuming to investing is automated, manual bank reconciliation feels outdated and more time-consuming than ever. That’s why we made automatic bank reconciliation possible with version 2021.2 of MIP. Automated Bank Feed Clearing is a new feature that allows the activity of certain banks and account types to be automatically listed in…
Read MoreThe Importance of Reducing Errors in Data Entry
Data entry is a critical everyday task for accounting teams in any organization, including nonprofits, schools, governments, and healthcare organizations. Your financial information is dependent on data entry, which means a single error can significantly impact your organization. Unfortunately, data entry is still often a manual task. This can leave your organization’s data entry vulnerable…
Read MoreWhy Paper Isn’t Working Anymore and Why Upgrading to the Cloud With MIP Is Important
Virtually every sector of the economy has become increasingly reliant on digital tools. The digitization of services brings new opportunities, especially for those holding on to manual systems. With global enterprise spending on cloud services reaching $129.5 billion in 2019, more organizations are realizing the cloud’s potential for spurring growth. The cloud enables organizations to streamline…
Read MoreBenefits of K-12 Schools Streamlining Their Financial Processes
K-12 schools often face financial challenges, from receiving funding to facilitating financial processes. Even with enough funding, schools can continue to struggle financially and manage complex accounting. To combat these challenges, your school district should understand how to develop an effective finance management plan for your institution, especially if you are facing budget cuts. Schools…
Read MoreStreamline Your Nonprofit’s Payroll
Nonprofit hiring is still suffering from the effects of the Great Resignation. As nonprofits work to become more employee-friendly, adopting workflows around payroll will help improve employee satisfaction and allow teams to reallocate resources to other processes. If your payroll system is antiquated or encounters frequent errors and miscalculations, it may be time to upgrade to…
Read MoreHow Technology Makes Talent Acquisition, Onboarding, and Development Easy
Employees are a vital asset to any organization. When it comes to talent acquisition and management, today’s fast-paced business environment might leave any organization relying on outdated practices behind. Fortunately, technology is evolving to streamline these processes and many others. Utilizing industry-leading technology solutions can improve how your organization recruits, onboards, and manages its employees,…
Read MoreMIP Customer Resource Library: How to Maximize MIP for Audits
Your organization is already in charge of its financial story using MIP Fund Accounting®, and when it comes time for an audit, we’ve got you covered there as well. MIP helps speed up and simplify your audit prep.
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