Many of you are familiar with Sage MIP Fund Accounting and know it is a preferred financial management solution for many nonprofit and government organizations. With tools to help you plan and manage budgets, maximize grants and quickly produce accurate customized reports, it has a lot to offer. However, our new Consultant, John Copeland has given it even more functionality with a new add-on called: Leave Accrual for Sage MIP Fund Accounting. This new feature will enable users to properly accrue leave within the payroll process, as well as remove the tedious data entry of manually tracking leave liability, attendant costs and pay raises within Excel.
According to FASB 43 and GASB 16, nonprofit organizations should accrue liability for their employee’s rights to receive compensation for future absences. When they fail to do this they can be taken by surprise when staff members take a large amount of time off at once, or when several employees take a vacation during a time of limited funding.
We noticed that many organizations struggle in this area, and wanted to provide a way in which we could make this software solution work even better for you. We have created three different versions to cater to your specific needs. For more information, including a data-sheet on this exciting new product please visit our website.