Sage MIP Fund Accounting Software – Nonprofit Accounting Software for Government Organizations
Total Government Financial Management
Sage MIP Fund Accounting provides government financial management for cities, counties, tribal governments and other governmental organizations such as special districts. This flexible government accounting system helps organizations easily track, manage, and report on funds from multiple sources, across multiple budget periods.
Sage MIP Fund Accounting offers increased system performance, flexible technology options, and analysis tools to give government organizations of any size the system they need to make more informed decisions. This complete government fund accounting software allows agencies to efficiently produce accurate reports of all types, including meeting GASB 34 requirements, and capital and infrastructure reporting. Integrated with Sage FAS Gov-a complete GASB-compliant fixed assets management solution for complete government financial management.
Flexible Fund Tracking and Chart of Accounts
Unlike commercial systems, Sage MIP Fund Accounting provides real government financial management, allowing you the flexibility you require to track and report on multiple funds, across multiple budget periods. The Sage MIP Fund Accounting table-driven chart of accounts is robust and flexible, designed to handle high transaction volumes and complex accounting configurations required for government financial management. You can customize the chart of accounts to fit the recording and reporting needs of virtually any government organization.
Built-in Report Writer, Including Templates
Any agency/Organization will benefit from the unlimited number of financial statement formats that can be created, previewed onscreen to ensure accuracy, and saved for future use. Beyond other government fund accounting solutions, the Sage MIP Fund Accounting system includes a wide variety of pre-formatted reports, including the audit-ready GASB financial and accounting reports, including:
- Statement of Activities
- Statement of Cash Flows
- Statement of Net Assets
- Budget Reporting
- Statement of Revenues, Expenses and Changes in Net Assets
- Net Assets reports including Infrastructure Reporting
Unlimited Budget Versions
Use the budget worksheet feature to quickly create any budget scenario during the budget preparation cycle or use versions to re-cast your budget to reflect amendments during your fiscal year.
- Report on any and all budget versions within your Financial Statements or Budget Reports
- Utilize budget versions as a forecast tool for "what if" scenarios.
- Recast budgets throughout the year for easy GASB compliant reporting
Automated Tasks Maximize Efficiency and Accuracy
Special function keys, distribution codes and automatic offset entries are just a few of the timesaving options available in this government fund accounting system.
- Automatically distribute amounts to the correct accounts and line items by dollars, percentages, and units.
- Use the Automatic Offset feature to balance transactions and complete the entry simply and efficiently including automatic inter-fund entries.
- Use the Memorize Document and Recall Document feature to instantly memorize and recall frequently entered transactions.
- Specify both valid and invalid account combinations to ensure that transactions are recorded correctly.
- Use system warnings to notify users of improper combinations for transaction entries. Use other optional settings to issue warnings when budgets are exceeded to comply with government financial management rules.
System Safeguards Keep Data Secure and Accurate
Use role-based security to save time and spare redundancy to create groups with certain security privileges, including controlling access to tasks and menu items so users access to only those tasks that are appropriate for their department or position.
- Perform data integrity checks. Built-in authentication processes makes database access secure.
- Assign account-level security to individuals or groups to give them access to specific account codes.
Meeting Other Government Accounting Requirements
Sage MIP Fund Accounting includes additional government accounting specific features such as:
Automatic allocation of expenses across several projects or accounting codes and tracking of restricted or unrestricted funds for projects or funding sources.
- Posting of transactions to the general ledger in real time or batch mode.
- Built-in system checks, so transactions are balanced before posting for each accounting segment.
- Excellent audit trails and transaction reporting to reduce time spent tracking specific transactions.
GASB 34 Module
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.
The GASB Module will allow you to:
- 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
The GASB Module will assist in the major change to traditional government financial reporting and accounting standards, which require all government entities, such as colleges, school districts, local government entities, and other public sector organizations, to perform accrual accounting of fixed assets in an accurate, complete, and detailed manner.
The GASB 34 module is fully integrated with other Sage MIP Fund Accounting modules.
Contact Soft Trac for more information on how Sage MIP Fund Accounting with GASB 34 reporting can provide a complete accounting system for municipalities and government organizations.