Obviously, Benjamin Franklin was not thinking about the ramifications for modern-day technology when he first coined the phrase “time is money”. But his words are just as true some 270 years later, as they were when he first wrote them in 1748.
There are several instances I can think of, where I chose the “do it yourself” approach to a project rather than paying to have it done. But unfortunately, what should have been a two-hour project ended up taking all weekend. And as a result, three other projects that were planned were left untouched.
So what does all this have to do with MIP fund accounting? Time is money, so look at ways to streamline your processes.
Save time & reduce data entry errors with MIP
One key area to consider is the extra effort that is required by keying information that can be imported. And while it may seem more cost-effective to manually enter third-party payroll transactions every two weeks than invest in an MIP import routine – take into consideration the additional effort that is required to correct the inevitable data entry errors.
The data import and export module frees up time for additional projects.
Perhaps even more importantly – what is the cost of not being able to complete the three other projects that would have provided mission-critical information to your leadership team?
DWD Technology Group can help you determine whether MIP’s importing and exporting data module can save you time, and therefore, money. And since 96% of ’s customers already own the module, why not put it to even better use?
Import on-going accounting items such as:
- Standard month-end journal entries
- Cash receipt transactions from a point-of-sale device
- On-going accounts receivable invoices
- Donations recorded in a separate fundraising software
- Recurring accounts payable transactions
- Clinical billing totals – i.e. NextGen, Credible, Netsmart, Qualifacts
- Checks that have cleared your bank
- Payroll transactions – i.e. ADP, Paychex, Paycor
- Payroll timesheets
- And more…
Import one-time accounting entries when creating a new database:
- 1099 balances
- Chart of accounts
- Distribution codes
- Payroll employees
- Direct deposit information
- HR information – i.e. dependents, certifications, education
- Year-to-date payroll balances
- Fixed asset records
- Beginning general ledger balances
- Historical transactions
- Budget amounts
Export fund information to Excel such as:
- Revenue and expense statements
- Balance sheets
- Cash flow statements
- Vendor and customer detail lists
- Posted and unposted transaction reports
- General ledger history, including programs, grants, departments, etc.
- Complete allocation calculation details
Contact us for more information about the MIP module for importing and exporting. We will be happy to answer your questions or provide a free demonstration of its capabilities.