"I’ve already recommended it to other libraries. The biggest benefit is security, versus QuickBooks, which isn’t a true [accounting] system. It’s too easy to delete transactions in QuickBooks, and we we're looking for more security than that."
Products
Key Features
General Ledger
Accounts Payable
Budget
Bank Reconciliation
Accounts Receivable Reporting
Data Import Export
Additional Executive View User
Forms Designer
EFT AP
Grant Administration
SVC Multitenancy
20%
reduction in time required to record invoices
30
hours a month time savings
1 million
collection items circulated
The Ela Public Library was growing and needed an accounting solution that would grow with them. They also desired a system that would give clearer reporting for department budgets and easier data import and export capabilities.
Lauren Rosenthal, Executive Director for Ela Area Public Library did an extensive analysis of fund software options, analyzing functionality, ease of use, popularity, availability of call center staff, ease of data migration, hardware requirements, and price including both setup and recurring costs.
Challenge & Solution
Library managers each had to use individual Excel files to keep track of budget spending. Additionally, managers had little to no tracking of spending. The library needed a more robust and long-term system to manage and plan their budgets with efficient and quick importing and exporting capability from Excel sheets.
Rosenthal had experience with QuickBooks and knew the library needed to invest in an accounting software solution built for nonprofits. With so many budgets, the library finance team also wanted a solution that could provide strong fraud protection and transparency.
Results
The library turned to MIP Accounting to manage its finances. The budget module implementation for the library has provided more freedom for each department manager and higher transparency overall for audits.
“The budget module allows each department manager to create a budget worksheet complete with chart of account codes. It allows managers to include detailed data so we’re performing zero-based budgeting,” Rosenthal said.
Using the module worksheets, the library can quickly export from Excel import back into MIP serving the finance a superb long-term solution where worksheets can be easily modified for budgeting year after year.
Using the module worksheets the library can quickly export from Excel import back into MIP serving the finance a superb long-term solution where worksheets can be easily modified for budgeting year after year.
“The biggest benefit in MIP versus QuickBooks, which isn’t a true [accounting] system – it’s too easy to delete transactions in QuickBooks, we’re looking for more security than that,” Rosenthal said.
MIP’s audit trail and session reversing provides complete traceability. MIP’s reporting is robust and versatile, offering summary and detailed reporting for the board and staff.
“After using the product for seven years I am fully aware of its superiority for processing general ledger and creating reports, as well as integrating the financials with the entire budgeting process so department heads can better understand their individual budgets,” Rosenthal said.
About Momentive Software
Momentive Software amplifies the impact of over 30,000 purpose-driven organizations in over 30 countries. Mission–driven organizations and associations rely on the company’s cloud-based software and services to solve their most critical challenges: engage the people they serve, simplify operations, and grow revenue.
Built with reliability at the core and strategically focused on events, careers, fundraising, financials, and operations, our solutions suite is bound by a common purpose to serve the organizations that make our communities a better place to live.