Maintaining database accuracy is a crucial part of keeping your nonprofit organization running smoothly.
Organizations may find themselves in a position where they have to change their record keeping procedures due to new or changing laws or to help run the organization more smoothly. This generally leads to the need for database modifications to MIP Fund Accounting in an effort to retroactively apply any changes or meet future requirements.
Examples of instances where an MIP database modification can be necessary include:
Changing a Fiscal Year-End
When a change to the fiscal year-end is made, it is often wise to retroactively change information to keep reporting information consistent in prior accounting periods. If you run a report that includes years with two different reporting dates, the information you pull may be useless without modifying the data from previous years.
Adding a Segment to the Chart of Accounts
Additional segments may become necessary when you need more granular reporting. For example, wanting to track by location, service, department and grants may all be instances that could trigger wanting to add a segment.Once segments are added it makes tracking funds easier, but may require the need to re-classify history. Database modifications can make your future tracking and reporting needs less burdensome.
Increasing Field Size
Having data entry fields that do not necessarily accommodate your needs for recording vendor information can be frustrating. Fortunately, DWD can help by increasing the field size, allowing you to type more characters in the same space, skip having to use abbreviations and increase field length.
There have been organizations who are required to keep records in multiple databases which means people within the organization were forced to enter the same information multiple times. Once an organization grows out of this phase, or the laws regarding this type of record keeping change, they are eager to consolidate all of that information into one place. With the right game plan it can be as easy as it should be.
The need to change account codes may come up for an organization. When that happens, the idea of retroactively renumbering all of the General Ledger codes may be daunting. With Database Modification this task can be completed easily and accurately.
This is a general description of some of the reasons you would need your database modified. Your needs are as unique as your organization; please contact us to find out if the MIP database modification you need or desire is possible.