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Import invoice format for NPOs

alright hello everyone and welcome to today's webinar simplify your nonprofits financial management with fund accounting my name is Kim Spellman and I'll be your moderator I work on the marketing team here at JMT consulting and I'm excited to be hosting this session today when pleased to introduce today's speaker Dan wharton dan is an MIP client account manager at JMT consulting and today he's going to talk to you about why we believe JM T is the best nonprofit partner out there and give you an overview of the MIP fund accounting system before I hand it over to Dan I have a few housekeeping items to cover first today's webinar will be recorded and will be emailed to you for on-demand access along with a slide deck next we'd love to hear from you during today's session if you have a question for Dan please feel free to send it through the Q&A tab at the bottom we'll be answering questions at the end of the session so without further ado I'd like to kick things off by welcoming Dan Dan over to you thanks Jim just one second here as I fiddle around with the settings give me one sec all right sorry about that folks when nonprofit organizations grow beyond a certain size particularly when the buna see material revenue from more than one source or stream the weakness of off-the-shelf bookkeeping tools such as QuickBooks becomes apparent jamesy consulting has been recommending MIP fund accounting to nonprofits for more than 20 25 26 years MIP is a true fund accounting solution that allow organizations large and small I mean all regulatory audit and funder reporting requirements OFP also provides a versatile and scalable platform for growth so welcome join JMT as we provide an in-depth overview of MIP and the benefits it provides to nonprofit organization today's presentation should take about 50 minutes to deliver and at the end we'll have about 5 or 10 minutes to answer your questions from the audience I think it's important to start off by telling you a little bit about who we are and who we serve how we only serve the nonprofit community and how we've grown to become the largest MIP partner in the country let's start with this and then we'll we'll get into MIP JMT Consulting is the largest I might be reseller not just in volume but also in science we have regional offices in Austin Texas that's where I am Nashville Tennessee in Paterson New York mm-hmm today's presentation is on MIP font accounting but we should also acknowledge that there are times when we have the source a solution from an approved third party again approved third party same tees vetted through hundreds of vendors to bring you the best in class solutions for payroll financial planning and analysis cemetery management ap animation document management and more really everything that touches GL rest assured everything that we do will lead to a better process and greater efficiency so how did we get our start well you can see the picture of Jackie in the upper right that is the farmhouse in Patterson and we were founded back in 1991 by a nonprofit finance professional Jackie Mt so hence the name so Jackie was in her fourth role as a nonprofit finance person when she left and started her own consulting firm she had been a customer for a few software and Technology implementations but rural as less than thrilled in what she had experienced so with a lifelong passion for nonprofits and having been a customer who was lessened pleased with the technology services that she received was really in that spirit that she found jmt nearly 30 years ago I realized that I'm telling a bunch of options at you and really haven't even had an opportunities he would M IPS offer maybe you've heard MIP is a modular based system perhaps you already know that there are 26 modules available my heart doesn't matter yet what does matter that as a non-profit you have options you don't have to be the biggest in order to get the best James he has a roster solutions partners that we recommend leaving tested and approved by your peers in the nonprofit community I'm speaking of let's take a look at some of the organizations that we've helped along the way a lot of banners here a lot of logos you recognize any of these names I've personally worked with quite a few the truth is the Chianti served over 2,000 nonprofit organizations and helped every one of them at some capacity and helping them achieve their goals and really it's just through our mission at JMT our mission is your business I'm gonna jump over to just one one example I'm going to share one customers perspective this is an organization called health first and health first is a nonprofit located in central Wisconsin they help families with reproductive and nutritional services they've been a gem T client for seven years now since 2013 being a nonprofit healthcare provider if they have a complicated accounting structure and built to accommodate multiple funding streams the receiving insurance payments donations grants and they have their own fundraising efforts but in order to alleviate some of the minimal processes the organization was doing they chose to implement MIP in this being software help them eliminate hours of manual entry a lot of staff to be more productive because the organization had bigger plans for the future they wanted to expand its offerings so health first leader and implemented the HR and employee web services modules in doing so they also migrated over to the MIP cloud this made sense for them at that different locations and employees that travel between them so improve accountants remind HR and more tech driven capabilities really helped transform health first and the organization it is today and has helped them serve more vulnerable populations all over the state of Wisconsin Nina thank you very much for contributing this let's see if if everyone's still paying attention hey Kim can everyone see the poll or survey mm-hmm I don't think so if you try depressing pull up one more time or I can do it if you would please sure I don't think I am not technically talent okay launch poll Hey okay did it pop up uh says host and panelists cannot vote looks like we can see if everyone else can vote cool okay see told you not technically is out of here all right we got window first stage and another vote for Oracle or another enterprise-class ERP okay all right so if everyone would go ahead and select which accounting system are you using today if you're a consultant and I think there are a couple on here please pick which one you tend to recommend the most or work with them okay while you're doing that I'm gonna go ahead and introduce a few members of the MIP team that guy in the UH ugly green tie that's Tom and he's represented MIP and some a farmer fashioned from more than twenty years dennis has been a support role and supported the application for now 14 years and Steve he started out as a finance director and we lured him over to JMT but he now works as an implementation specialist and certified trainer but like Tom I was I was introduced to MIP by working directly for the software publisher others here I'll represented our marketing client success and professional services teams these are the folks that you'll come to know along the way they're with me as I try and find the answer to our first survey it looks like the most people voted for Oracle or another Enterprise enterprise-class ERP with three votes in sage ended up with one vote I would lost money here I I thought for sure we'd have quite a few cookbook users that's good curious to know what what your personal interests are in a solution like MIP but um we can we can get to that later feel free to give us call and let us know or when we follow up you guys next week let us know if you've got everything that you were looking for out of this out of this presentation so why do we recommend MIP pond accounting well number one it's a hundred percent fast be compliant I could go on to give you some sort of long dull definition of a fund and how a fund is a fiscal an accounting entity with a self-balancing set of accounts ing cash and other financial resources together with all the related liabilities and residual equities or balances and changes they're in which are segregating for the purpose of try and carry on specific activities or attaining certain objectives in ance with special regulations restrictions or limitations but I wouldn't do that to you I number two MIP has long enriched 30 year history with over 6,000 active customers I posted a retention rate or renewal rate if you will upgrading the 97% they've done that for one more than ten years it's a pretty good track record transparency comes in the form of all quite a few different things I think maybe one of my favorite examples is their online status page they actually post on the world wide web a public and very accessible that literally shows anyone that wants to to look at it what the current status is of their cloud hosting service so if you're a competitor and you want to know when they're not MIP is down you can actually go visit this website and get some intel of course if you're a cloud user and are experiencing some disruption this is definitely the first place you want to go to make sure that there isn't a service outage and I think most importantly is that there are there's language inside the terms and conditions they guarantee at least 99.99% availability and if that I thought mathematical calculation comes out to be a certain percentage then they will start paying you so long story short they have your back customer driven product developments they have a very active and engaged UI team there's an online user community there are multiple user and developer conferences these are held each year of course the folks that own MIP community brands they're down in Orlando each November December we have our own user conference coming up in May will be hopefully we will be in Connecticut on that first first week again there's just a no shortage of resources for customers to suggest improvements give their feedback work with the dedicated UI teams at community brands and and continuing to to improve the application and the interface ease of use this is a you're going to see quite a few screen chopping away but you'll you'll you'll get the feel of this is a very modern intuitive web interface more details there are role-based dashboards intuitive help menus built-in wizards and guides they're multiple controls within the application each process is custom-built for routine transactions so as you're thinking about we do on a routine basis throughout your day creating journal entries posting transactions what-have-you there are multiple fields that you have to click through some of those fields can be hard-coded meaning as you tab through them they're gonna auto populate so we'll get to some of that information here soon but again the whole message is that coming from whatever system you use and jumping over to MIP very short learning curve here community brands is the to my knowledge and please if you're on this if you're on this webinar and know otherwise feel free to correct me but as far as I know with community brands is the only vendor that offers apart issues meaning you as a customer have the ability to either choose a server based application you the software you maintain and on your servers and go from there or you can deploy in the cloud and community brands is not going to make that decision for you it's up to you as to what works fast and of course there are pros and cons behind each but which ones you know which which side always the other we can we can help you come to that conclusion one other little nuance here not only is community brands the only vendor that's offering an on-premise and a cloud-based solution but they actually offer two different cloud deployments what we've noticed is that there are customers out there and I think for the consultants in this in this room this might be something specifically for you but community brands has developed an API they've chosen a rest-based API to develop third-party integrations so if you are looking for that kind of service I would I would strongly advise that you take a look at a multi-tenant cloud solution and for folks that want something that's even more integrated than that we can take a look at a single tenant cloud deployment important characteristics of MIP this this slide is way to accounting me for me and there's not much reason for me to try and attempt to summarize so I'll pause and and kind of let you read through it however MIP was purpose-built to be a true fun accounting solution and nonprofits have a unique set of characteristics and you can see some of these here so in order to satisfy these requirements of funders and deliver a meaningful story to the board MIP had to be written differently so that's really what what sets it apart so let's take a look at how MIP makes all this happen I think we might need to start by explaining what it means to be a table driven software application and let me draw your attention to the bottom of the slide here this is what we don't mean by table driven this is a classic example of a linear chart of accounts you can pair these up here so I've got my general fund 100 I've got printing 6000 and I've got a department code if there are any QuickBooks users in the house then this this is going to seem very familiar to you customers using a linear method will often tell us with their chart of accounts is 30 40 50 pages long these long archaic strings are comprised of every possible combination you can possibly you can think of from our standpoint that's that's where that's where the problem lies with hundreds of count codes strings to manage it's difficult to isolate the specific piece of data you're trying to report and customers would tell us that they'd have to dump all their data into a spreadsheet and then manipulate the data from there we're going to tell you the same thing when we told them with the table different chart of accounts the Fromm's go away they simply just don't exist each segment list is maintained on a separate table I'm up MIP allows you to characterize your segments and match the report data to the stories you want to present to your board having the ability to name your segments makes life easier for you in your team what you do here will flow right into the reporting area so where you see names and in the chart of accounts you'll see it throughout the entire application because it's dimensional you can buy anything you want without having to export it in Excel again we'll take a look at reports and and what that really means or how to create those combinations a little bit later we recognize that this might be too much of a change for some users but I want to assure you that the software makes it easier to pick up and retain and you can also assume the chantey would help you through any potential learning curve let's take a look shall we I'm sorry folks hold on one second sorry about that okay so the first thing we're going to talk about is the dashboard dashboard is the first thing you see when you actually log into the application MIP has created a role-based dashboard environment and there are six roles available for you to customize there's a ap dashboard and a our dashboard budget management cash management an executive of you and financial performance so here we have cash management here in this second example we have financial performance these are two different views and each one can be customized in this first example we can see cash management I have the ability to customize the screen I can move a widget I can add or remove them or I can apply filters and just a quick note case you're unfamiliar with the term widget these are the boxes so this aged payables box is a widget in the second example we have financial performance so a lot of times we'll see financial leaders will see engage for members executive directors I'll jump onto this particular dashboard and the reason being we promote this level is because more and more boards are selecting certain data points or key performance indicators for their Finance and Accounting teams to manage and so a really good idea would be to go ahead and embed those KPIs into the financial performance dashboard that way everyone's on top everyone's on the same page the messaging is consistent and clear and of course those leaders are getting exactly what they needed quick side note a lot of this information renders quite well on a smart phone so I've often promoted the idea and I've seen it work quite a few times let's say you have a CFO that's jumping into a board meeting it would be great to have them go ahead and pull up this financial performance dashboard just to give a get a quick understanding where things might be so now let's start digging into reports and let's assume that one of the main reasons you're here is because your current system isn't giving you all that you need my guess is that most your reporting is done because you too cumbersome or done manually well I guess the good news is you can list Jedi Master in excel as a skill on your resume but how does that help with the growth of the organization and how does that help you when you need to take much-needed vacation MIP Report Writer includes a robust set of faz B and gasps be compliant reports and are actually over 180 can reports to choose from and each one of them can be customized for today I'm going to select a general analysis report and while we're going through that I'll highlight a few key areas along the way so first thing I need to do after selecting the report type is to customize my columns what data do I want to show this is where you do it pre formatted or default reports will automatically come with a set of columns and is really up to you to modify them I can drag and drop as I go I can reorder I can colonize the data that went the way that I want off screen down here there are coding options for things like beginning period actual current year change and prior year current with period actual so you can see that a lot of these pivots are already built into the tool without you having to use those Chetty skills that I talked about with Excel in here not more intuitive much more user-friendly in this case I've already made all my data selections and now I'm ready to fly my report and you may notice that report filter report builder also allows you to use things like page breaks it allows you to pick and choose what data you want to emphasize so let's say I was billing in one pager and then all of a sudden I need to spread that oh I would pour in two three or four or ten different pages each one serving a targeted audience I can do that Ollis fear within just a few clicks there are tons of options available for example this is where you generate a report for your grantor that includes a total duration of a grant many organized organizations have grants the last 18 24 36 months there are options for unposted transactions your end adjustments and encumbrances as expenditures it's it's important to note that this is very different in the corporate world QuickBooks allows you to edit the transaction as as needed meaning I can overwrite something MIP is much more rated its tittle on you to reverse an entry and you can post into correcting entry but you can't beat or edit the original entry and MIP maintains a very detailed audit trail for everything you do we'll take a a little deeper dive here soon layout this is where you can adjust column widths wrap text customize footers change fonts or select orientation more or less or here is that you should not be building your reports inside of Excel literally everything you'd need to do in terms of selecting the data selecting the pivots formatting them it's all done within this easy-to-use screen and voila here is a sample pretty clean easy to read understandable relevant so on and so forth all these other cool words that I can't think of right now and at this point now you have the option to export data onto our spreadsheet if if you are trying to maybe make a visualization I also have the ability to just a format it over to PDF and hand it out I can email this report I can email it to an individual or I can email it to a group of individuals I can also save this particular format for later or I can share this format with a co-worker really whatever you need here so we're a little past the halfway mark of the presentations let's pause and see if we can take another survey and Kim can we is there a there's a poll for number of board members or a number of individuals perfect yes I just did it cool okay so excluding board members how many individuals are reviewing financial statements on a monthly basis so what we're what we're driving at is how many folks are actually engaged how many folks are actively looking at a saving of revenue and expenditures how many are looking at cash flow statements um when you're looking at budget versus actual you know any of these financial statements and and you know again exclude board members and I think what we're working on is not only how large is your Finance and Accounting team but is it possible that you're sending the right messaging or sharing the right messages and data with program managers and account managers and grant managers and things like that maybe even folks over in development give every second everyone a minute to make their selection and 400 for those that are finished enjoy my attempts at bringing a little humor into the conversation all right let's let's continue I hope you guys saw the results but it looks like four people voted that one to five members are in reviewing the financial statements on a monthly basis basis okay cool Thank You Kim all right let's talk about administration what sort of controls do you have inside the system what can you automate from a user level what sort of organizational preferences yeah so on and so forth so this is this top picture shows current activity keep in mind that the database name refers to the specific area that you're working in so if I was it over in AP I would see ap 1 AP see a PM just depending on am I talking about cash or management or am I talking about invoices things of that nature something else the QuickBooks users don't have and this is shown in the screenshot below summary organization on it and this is a default will show you who logged in when they did it what they did and what their activity was was as they logged in the system and whether it was a successful event so let's say they're trying to post transaction and they had a failure or they received a discrepancy the system will automatically recognize whether or not they were successful in their attempt and if so they'll catalogue it here so I know exactly who is logging the system how often they're doing and how much time they're spending I can even get into kind of a granular level I can understand how much of their day is being spent on a on a particular task or activity now if I wanted to I could prevent certain users from performing certain activities I can lock down bang crack I can limit access to read-only I can show program managers the data is only they are responsible for so they have a certain set of accounts or programs I can I can make sure that I tailor their viewability to to support that when it comes to user preferences I can set entry defaults maybe it's a specific set of codes that they use routinely or maybe you want the system memorize a particular set of entry selections this is especially helpful with making journal entries nyp also comes with organizational preferences and I can select different processing types I can block transactions from being posted outside of the current fiscal year I can set aside it so that session IDs are session ID numbers are generated automatically or input manually similar thing with document numbers where they can auto increment the values there's even a performance monitor a data integrity check that combs through each database again keep in mind databases in this case is a particularly area or function within I might be it comes to reach database to see if everything is in balance so if the offset isn't correct you'll you'll get a check failure the distribution code didn't take you'll you'll get a you'll get a failure there so lots of checks and balances inside of the administration's room lots of great ways to automate things as well so let's jump over and do a quick exercise in AP and let's say I want to look at a certain vendors activity within a given date range I select the appropriate filters and then click apply in this case I selected to look at all activity associated any actn4 code here and because we're talking about accounts payable and we're looking inside them in a record I'm seeing a little more ap detail here so from the top I see the construction invoice here's the description and if I click on the document number I can drill down into the transaction what comes up I will see when the new window pops up I'll see the AP invoice I can see that there was a Chuck so here's the AP invoice here's the check it's cut here I can see the check was also voided and then the check was reissued as a voucher I can look over to the right and I can see all the descriptions and I can see that everything has actually cleared clear clear should the vendor calling your melody at the history and confirm the vendor yeah sorry we just had a question come through about this page from Howard he wants so if this is the AP module for the cloud-based MIP yeah absolutely awesome thank you yeah no problem there's more to it you know I'm sorry for all the screenshots I just I I find it that it's a little more reliable you can very easily any any one of you here could request access to the sandbox so we can't issue free trials so to speak but we do have a free sandbox and what that really means is you can deliver a generic version of the software and let you play with it so if you want to get used to the features get used to the functionality if you want even enter in some vendor records of your own and generating your own transactions you very well could but getting back to it i I just I find that using screenshots as opposed to trying to navigate through the system it's just a little bit more reliable especially when I'm having to use remote desktop to try and connect to their their sandbox I actually had a cloud license it might be a different story but I would have to Remote Desktop and I just don't I haven't had much success with that in the past so anyway my apologies but hopefully you can still you know get a picture of what things would look like in the cloud environment ok so if the vendor did call I could use the screen app allocate history and confirmed that the vendor has actually been paid maybe there was a snafu or maybe they saw this and all of a sudden were wondering what was going on okay and did you notice that the document number also appears to be a hyperlink that's because it is if you click on the document number I can pull up all the debits and credits that are associated I'll see that a fund that grant GL Program Department codes will all populate along with the entry types and their effective dates let's move over to your transaction entry and AP invoices so API AP invoices you'll maybe something to note here is that MIP is a batch file system and in most cases customers will like to have or not have unposted sessions this is this is more of a philosophical type of approach or question if you elect to create unposted sessions you could go one step further and decide who can or cannot post them to the GL meaning there are certain users maybe you want to restrict and this is another control within the system the first picture is of all the on posted sessions I have within a given time range and I input that time range the other is what shows when I open the API session ID so I clicked on here and I got this I could have easily searched by invoice number I could have easily search by document date I could have searched by the amount a vendor ID or really anything you see here in order to get this information one thing you can't see here is that by typing in the first few letters of the vendor ID right here I was greeted by a list of possible matches if I find if I find my vendor on that list I can select it and the remaining fields that I need to populate will auto populate with that vendors information so address 1099 checkboxes things like that it'll it'll all auto populate something else to call here is that MIP is going to track 1099s for all your vendors and when it comes time and IP is going to go on or go ahead and connect and efile the service and let you send that information for free over with the IRS if you decide that you want to also use MIP to generate and distribute those time penance all your vendors they do have a couple options you can either buy certain paper stock and do it on your own you can like to have a service I don't remember what the dollar amount is per per record but I think it's maybe a dollar and a half a dollar 60 somewhere around there or you can just choose to do it on your own truly up to up to you and I guess how many how many vendors you're working with just just off-screen below the pen 89 type is the actual transaction screen so let's let's jump over to there let's see what an actual transaction looks like entry in this uppermost screen shot you see the GL is listed first one second grant third and so on I can reorder these at any point and time it's on this here in the second screenshot the reason these are moveable that really help you during the entry process the faster we can help you move through the fields the more productive you become each field has a drop down or pick list with all of your available codes and see here I'm grant another shortcut we can use is the hard code the system I can assign a specific code to the vendor instead of manually selecting the codes by the drop-down list meaning I can assign grant 501 and GL code 5700 one with vendor ABC leaving it to me to fill in the gaps in case you're wondering yes you can override the fields that have been already populated if you need to use a different brand new GL code so if you want to make it a little more routine go ahead and auto populate it hard-coded in the system and then this for those one offs just just override it another differentiator between QuickBooks and MIP can be seen with the effective date field and what's hidden here is that MIP is an accrual based system and manages two separate dates first when was the invoice posted to the GL that's the effective date second Len was the check paid to that end voice those are two separate dates and two separate processes not said it's easy to manage both within the same screen I can tap through my fields to make the appropriate slot and then I can hit apply offset to balance my account I've seen that year so I had 5600 one hard-coded I had grant maybe a fond code I had to populate maybe populate some of this information too and as I hid this information I clicked apply offsets so that everything populated appropriately we also have a feature called distribution codes and what if the invoice I have here needs to be spread over multiple accounts what if I need to perform that spread a little more routinely well I can program this spread so that it all calculates whenever I tell it to and what exactly is in calculating all it can it can calculate percentages it can calculate fixed amounts and there are quite a few other allocations that are available and again all it can be done across multiple accounts so a distribution codes take into consideration your segment structure and just makes it easier to program so that's entry and that is a distribution code let's jump over to budget management there are two primary reasons why nonprofits I guess my experience there have been to consistent reasons why the organization or the nonprofit will make the decision to replace the current accounting system we already talked about the first on and that's reporting the second one the second reason is all about budget management I guess that you've either created workarounds to make yourself will work or those workarounds were really never meant to be handled inside the system they're difficult to maintain prone to human error and from what we found just nearly impossible to replicate well this is why we love another reason why we love MIP only if you let you control your level of involvement I'll get to that hand sac but really I love using the interface to create a budget I can as you can see here I can either work from an original I can select a revised I can even select between operating actual budget worksheets and to help me kind of along the way there's a key and this key is not just exclusive to budget management but you'll see keys throughout the entire application and again this really helps promote the learning of the application especially for new users but it also helps with just becoming more more efficient to help drive that efficiency if I were to actually click on a help menu MIP would automatically recognize the area that I'm in in this case I click on help on the budget worksheet MIP would then return and provide relevant content so it give me all the it would suggest a whole bunch of steps and content that related directly to budget management so it's it's very unlike just trying to navigate through an entire work help workbook anyway once I've chosen worksheet I'll then select the segment or segments I want to include the thing about this is what I'm trying to compare and the thing to do or the thing to think about is what am I trying to compare and at what level am I looking at this data how am i budgeting it might be at the expense level I can look at a combination of revenues or expenses or I can include all available accounts now I go to set my filters and this is the Zoom drag-and-drop functionality that we saw back in the report builder I can add operators working these trends that appeared last year's budget so let's say June's budget was lower than July we had a spike well I can I can carry that trend I can have those trends carryover I can also inject comparative columns and we'll take a look at that here in a second here is a sample worksheet based on the parameters that I sat on the previous screen you can see that I included three segments grant GL program I did it for just one grant 201 which happens to have a couple different programs sent along 201 so on so forth but just do a previous year's actual and a previous year's operating actual operating and then I'm asking myself to enter the budget here and column H so depending on whether your glasses are clean and your eyesight is real good you should be able to distinguish between these blue backgrounds and white backgrounds if not just take my word for it in in case you're wondering all this information that you see here in column H actually had the system populate this for me I'm just allowing myself the ability to override so all this information can be populated and depending on how you work inside your organization you may choose to go with zero right from the start or you may provide last year's actuals or you may provide this year's projections it's up to you whatever you want to do and then when you're first building when you're first starting out we can import that information from wherever you're keeping it a lot of cases customers are keeping it on Excel we can very easily take that information and upload it there are plenty of Excel length features in here so I can insert I can sort of roll I can drag I can copy and paste I can even create formulas but I need to do there are also things like you can't do here in Excel you can highlight a group of cells let's say I wanted to take this chunk here if you would and it could be a row it could be a column or it can be a combination of both but if I did I can right click and now I can do things like modify the quantities why would I do so like that let's say I had a budget decrease of 5% and it in a particular area well I could just select that chunk right click and then enter the negative value so if it impacts the rest of the selection same thing happens for the let's say vice versa so if I had a budget increase I can again select that chunk either that row or column or combination of both to accommodate for that increase I can go into specific cells and do things like add a comment I can highlight a particular line item and it will lock it down I can also modify on-the-fly I can take a particular value and alter its value within the budget working I can increase or decrease by a specific amount I can bring in an allocation I can reset to zeros or to a different amount there's also something called a budget spread and that's it's it's I wish I'd taken a screenshot of that I'm sorry I didn't but it is inherent of every budget worksheet but it's a specific column and its purpose has it's a great tool let's say I entered a value of twelve thousand and let's say my budget was by quarter for a 12-month period well it would take that twelve thousand divided by the four quarters and apply three thousand to each each quarter so I only have to enter it once over on that that that budget spread and it impacts everything that's everything that's inside my report let's jump over to bank reconciliation before I do I need to give you a quick public service announcement what you saw is or what you're about to see is what is in place today the MIP developers the folks over at community brands their development staff is working on a new and improved Bank rec module and community branch has already given us a spring release date typically means if we're talking about software vendors and software publishers that typically means that the applications already written and now we're in a test phase especially if we're talking about a spring release I don't have any samples yet I can talk about it in in just a second but if you want to be part of the part of that news just join our mailing list or email me or whomever here and we can keep you posted okay so in bankers and reconciliation you start with the cash account and then that's going to include your GL code title and status new geo codes will automatically flow into Bank rack I don't have to do a special bank transaction or anything like that at all it's all integrated once I select my cash account I can then select a reconciliation ID and now I can see all the other pertinent data I can see my cash disbursements EFT transactions check transactions I can see all of that here same thing with the deposits other cash items are going to list let's my journal entries the cash items here those are going to list my my journal entries so transfer from transfers or restricted revenue are going to show up here let's say you have irreconcilable items and well there's a great place for let's let's go ahead and move them over to suspense items for QuickBooks users I've heard that this this is what you would use for items that you can't carry from one month to another there's no separate designation I've heard some some ping around that around that topic there's even a place to store and attach documents actual reconciliations receipts statements anything I can go ahead and upload it here if I'm going through each transaction I have the ability to clear each item as I go or I have a way to import holistic cleared items should I have handled that much volume so I can very easily import do two separate imports I can import all of the transactions themselves and then B I can import all of the cleared items and you'll see it here and anything remaining will just be up to you - to handle and manage that's about it not a lot of a lot of frills here at least not yet we're being told the new and improved module will include a bank Eid the speed is going to allow you to see the bank amount that's coming in from sorry this the speeds going to show you two things first it's going to show the amount that is coming from MIP and second it's going to show the amount there's coming in from your bank those do you match good to go this honestly would make the bank rack process much simpler I don't have too much more information on the new and improved but again if you want some information or I want to see what what they're doing then just give us a holler we're we're getting close to all of the shots and and topics that I wanted to highlight for MIP I've got maybe one or two more slides and then I want to jump over to customer feedback and then I'm going to wrap things up and with a final recommendation we've only looked at I have a few handfuls on a few modules that are available the truth is MIP is a system that's going to grow with you most I might be customers come from QuickBooks and they made a switch for multiple reasons what we've seen is that most customers when they make that switch they're somewhere in the vicinity of a million maybe two million in annual operating revenues so that seems to be kind of a threshold of course that's going to differ depending on how many streams or revenues and programs that you have to manage now I have seen plenty of organizations grow paths with 25 million mark before they made maybe a switch into another system but I still work with plenty of nonprofits who are much bigger and seems like they'll never replace MIP so maybe for folks that are wondering am I the right size and buy the right fit maybe that kind of information helps next thing I'm going to do is share some information from trust radius that tells the tale the two customers who already made the switch trust radius comm who is who is frustrated estera they're an independent software review website which helps business elect software based on reviews and every review is verified and vetted and they don't allow publishers to purchase hats here's two reviews neither of these are from JMT I I've already talked a lot about TMT and I felt it was important here to talk about others but you can see that both are enjoying the system this information is public you can very easily go to trust radius type in MIP fun accounting and see these reviews for yourself and I would absolutely encourage you to do so what's next I think really it's it's it's all about the pursuit of happiness your happiness we suggest you pursue your interest and find a partner with a proven methodology we can help you find the right answers a recipe for success if you will we think at James he has that recipe and we would really love the opportunity to help you find your happy place I also wanna let you know that our team will be contacting next week and it's up to you to respond why did you register what were your expectations how are you going to use this information where are you going to go from here we're happy that you joined us today and we want you we want to be there for you in the future in case you do in case this is turning into a fact-finding mission or or you're thinking about maybe making a change I'm going to share some haha moments from others who played a role in implementing a new system like MIP so depending on which side of the fence you were like Jackie neither you were had the pleasure or the displeasure of going through an implementation you'll picked up a few tips tricks and goals live live I along the way number one you know pick someone with Lots experiments takes careful planning and management number two work with a CPA from an audit perspective and then month software do the work number three provide a safe haven first oracle data but chances are good you won't want or need to import that old data into the new system number four you need to be involved well you're here aren't you number five realized more time and energy you invest in your systems the better the return on your investment and last but not least same line of thinking you'll want to invest time money resource to keep your processing running optimally and we also have to recognize that people change needs change and even the mission and the missions in which you manage can change so long-term success requires periodic thought and movement realize also that the software is just a tool set we're going to we're a stand on our pedestal and let people know that our process guarantees success for me the finding the right solution is a little like finding your favorite bartender I know this isn't a great analogy but it's what I know I know what I like and I know how I like it so it's up to me to find someone who can deliver but what makes a good drink a good drink well it's equal parts mixologist process and spirits so it's not three prong approach James he uses a proven methodology it's very mission with the right solution to produce an effective accounting practice and last but not least you know if I've preached a lot about JT I stand behind MIP I'm working with it for about seven years now and it's a great combination but at the end of the day it's it's all about risk and I can tell you that our commitment to you or all of these things will guarantee and this is all on the fine print that are our projects are going to be delivered on time everything is going to be on budget price guaranteed not an estimate again this is all cleaned out in our terms and conditions it's in plain English and if if you don't want to take my word for it I understand but if you want to give us a shot you know give us a call and see for yourself all right questions all right we do have one question so far if anyone else has a question you can use the Q&A button at the bottom of the screen but right now we have from Howard which expense management application does MIP cloud integrate with right now microwave is one neck Sonia is another one microwave has built into their reconciliation sorry I'm sorry their electronic requisitions and pio module the ability to manage expenses requests approvals things of that nature that's one solution it's kind of a twofer if you will next Anya is maybe a smaller organization they are not as long of a partner with community brands in a bill but they are they have built the integration and they have a dedicated expense management application that is 100% cloud-based where Micro has both on-premise and cloud based solutions again both integrate well with MIP regardless of whether or not your MIP is hosted or not do you know specifically if MIP works with Expensify or concur so works with the answer's yes but like any integration there's really two levels there is a flat file import in which we can use a CSV file as the intermediary meaning we can export data out of Expensify or concur to then import into MIP that fat out of that flat file transfer or definition file is something that we program all the time I had two calls yesterday from customers who are have chosen to go with concur and it doesn't matter if it's if you're using concur for one or many of their services maybe it's maybe they're writing checks for you maybe they are processing invoices maybe they are managing expenses at all to some level integrates the other level of integration is an application programming interface or API this is something that has been around for a couple of years though community brands has just now decided to spend some more resources and make some more effort in order to make that aspect the business grow there is nothing built quite yet though I do know a couple folks that are going through that process right now so again the int the short answer to your question is is we can we can definitely find a way to make that information for from one place to another but we hope that an API something much more streamlined something much more efficient and automated would be available certainly by the end of the year great thank you and one more that we have is from Ann she says does MIP integrate with PayPal or any other credit card processor same same line of thought as the expense management or concurrent Expensify I'm trying to think if there's already been one API maybe with Paylocity I'd have to double check but long story short we want to get the information out of your third party payroll and into MIP in again we would use that CSV file as the intermediary and then post that information as a journal entry into into MIP so you can get a lot of detail there's even an extra step that if you wanted to if you needed to manage all of the specific line items associated with payroll all the benefits deductions and and those those allocated costs we can even get that that information agreeing in our information in that maipi so again you can either post the information summary information as a je or with the help of the allocation module we can import that labor distribution a little bit more seamlessly and more accurately into the GL as of right now I don't know anyone maybe besides paucity that has a has an API built again similar story everyone everyone's wanting to do it but it's going to take some time to get there thank you we don't have any other questions right now but we can give it a minute and see if any other flow in just to I answered quickly but the truth is in third-party data whether it is a donor management system a payroll system a credit card system all of those third parties have the ability to export your financial data the credits and debits and the information that is associated whether it's a vendor ID or credit card information whether it's a employee ID for payroll things like that that definition file is a very cost effective and a tried-and-true way of getting information from one place to another so I don't know if I place enough emphasis when I gave that explanation but that is that is something that we do routinely that is not just a private area to jmt that is really every partner we've ever worked on the system and it's a great way to to manage data there are some things that you just need to be aware of and we can work with you through that but I do you know I also want to emphasize that api's are becoming more of a prevalent thing amongst nonprofits and I'm excited to see that community brands is pouring more time money and energy into development of those interfaces so you have something to fall back on it's a good plan B you know plan a would would hopefully be an API but if we can't do it then don't worry we've got a we've got your back we've got a good method for getting that data into NYP anyway that's sounds like it's it unless there are any other questions nope there's no other questions so thank you everyone for joining us and check your email we'll be sending you the recording yeah thanks for helping me out here so funneling my way through soom but anyway Thank You audience for for joining us and we'll be back in a month to talk about MIP versus QuickBooks all right so long everyone have a good day you too