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True North Training for MIP Fund Accounting®

Sometimes you need comprehensive training on a new MIP Fund Accounting® process, sometimes a refresher on a less frequently performed MIP® task is necessary, other times you might need to train a new employee, and occasionally, you just need a quick tip and immediate support.

Instead of wasting your time on hold with a helpline or sifting through an overly complicated user manual, True North Training Videos for MIP® are here to provide simple answers to your questions and support you when you need it most.

All of our MIP Fund Accounting® Training courses are comprised of several chapters, each covering a wide variety of topics. Every chapter includes a training video, a supplemental MIP® training PDF specific to that process, and a quiz to test your understanding. Upon completion of a course, you will receive a printable notice of your achievement to display proudly.

True North Training for MIP Fund Accounting®. Quick. Easy. Affordable. Available.

MIP Fund Accounting Training Courses

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  • Understanding the Administrative Functions within MIP Fund Accounting® (ADM)

    For those looking to master the administrative capabilities of MIP Fund Accounting, our comprehensive MIP Fund Accounting Training offers an in-depth exploration of essential administrative functions. Participants will gain valuable insights into how to proficiently add or modify users within the system, as well as learn the nuances of setting up and adjusting user security levels. Our courses emphasize understanding the various security options available, including detailed explanations of system and organization security differences and how to manage them effectively. Key lessons include standards for setting up users, the processes for adding new users with the proper settings, and methods for establishing or changing passwords. Additionally, the training covers critical security features such as setting minimum password lengths, renaming users, and administering user rights. With a focus on the security options designated by V-E-D-A-P, participants will learn what each letter signifies and how it empowers users within the system. Our MIP Fund Accounting Courses are designed to equip you with the knowledge and skills needed to ensure robust security and efficient user management in your organization, making it an indispensable resource for anyone utilizing MIP Fund Accounting.

  • Understanding the Accounts Payable Cycle in MIP Fund Accounting® (API)

    Dive deep into the Accounts Payable Transaction cycle with our MIP Fund Accounting Courses, designed to provide a thorough understanding of managing invoices through the MIP Fund Accounting system. This training is essential for mastering the complete accounts payable process, from entry to correction, ensuring comprehensive knowledge and practical skills in financial management. Starting with the basics, you'll learn how to accurately enter invoices and process checks within the Accounts Payable module. Detailed instructions include filling out session information, using correct invoice numbers, coding for 1099 forms, and coding expenses properly. Beyond entry, the course covers how to run and post unposted transaction reports, enhancing your proficiency in maintaining accurate records. Further advancing through the cycle, our training guides you on how to select invoices for payment, process system-generated checks, and manage the posting process after checks have been printed. Additionally, you will acquire skills in voiding checks, with steps on finding the appropriate options in the system, choosing correct void dates, and understanding the implications of voided transactions on your financial reports. For those needing to reverse or correct transactions, our MIP Fund Accounting Training offers in-depth guidance on identifying session IDs, reversing posted invoices, and making corrections with confidence. Each section includes steps on how to verify changes through reports and post corrected invoices, ensuring that every alteration is accurately reflected in your system. Whether you're new to MIP Fund Accounting or looking to refine your skills, this training is an invaluable resource for anyone involved in the financial operations of their organization, providing all the necessary tools to manage accounts payable effectively.

  • Understanding the Accounts Receivable Cycle in MIP Fund Accounting® (ARI)

    In the Accounts Receivable Invoice (ARI) training for MIP Fund Accounting, participants will learn the intricacies of entering invoices into the system correctly, an essential skill for ensuring effective accounts receivable management. This segment of the training provides detailed guidance on each step of the invoice entry process, ensuring that all financial transactions are accurately recorded and managed. The course begins with ARI 01: Accounts Receivable Invoice Entry, where you will be guided on how to efficiently utilize the session information screen. This initial step is crucial as it sets the foundation for the invoice details to be entered correctly and ensures that all session data is properly recorded for tracking and reporting purposes. Next, you will learn the appropriate practices for filling out the invoice number field. This involves understanding the system's numbering conventions or setting up a custom invoice numbering system that meets your organization's needs. Proper invoice numbering is vital for maintaining an organized record of receivables and ensuring easy access to specific transactions when needed. The training also covers how to correctly code the revenue line. This step is critical for ensuring that revenue is accurately reported and categorized in your financial statements. Correct coding helps maintain consistency, aids in budget tracking, and ensures compliance with accounting standards. Additionally, participants will learn what to enter in the transaction description field. This includes detailing the nature of the transaction, which enhances clarity for bookkeeping and provides essential information during audits or financial reviews. Finally, the course teaches how to run an unposted transaction report and post the session. This process is key to verifying that all entries are correct before they are finalized in the system. It ensures that any errors can be identified and corrected, and that all transactions are accurately reflected in your financial records. This training segment is essential for anyone responsible for managing accounts receivable in MIP Fund Accounting, providing them with the knowledge and skills needed to perform accurate and efficient invoice entries, ultimately contributing to the financial health and accountability of their organization.

  • Understanding the Bank Reconciliation Module of MIP Fund Accounting® (BKR)

    Enhance your financial management skills with our detailed MIP Fund Accounting Training focused on the Bank Reconciliation Module. This comprehensive course offers an in-depth look at the entire Bank Reconciliation process, designed to help you master the critical tasks needed for accurate and efficient bank statement reconciliation within the MIP Fund Accounting system. The training begins with an overview of the Bank Reconciliation Module, explaining its significance and guiding you through accessing the module. You'll understand the purpose of each main file folder and the layout of the module, setting a solid foundation for deeper exploration. As the course progresses, you'll delve into specific tabs within the Bank Reconciliation Module, starting with the Summary Tab. Here, you’ll learn its uses, how to select and create unique Reconciliation IDs, and the key functions housed within this tab, along with practical tips to enhance usability. The training also covers the Checks/Vouchers Tab, where you'll discover the importance of each column and gain insights into managing checks and vouchers effectively. Further exploration includes the Deposits Tab, where you'll learn to select and understand deposits, and the Other Cash Items Tab, which focuses on how to clear transactions that affect your cash accounts. Each section provides specific columns and their meanings, accompanied by helpful tips to streamline the process. For handling more complex scenarios, the Suspense Items Tab training guides you through entering information into various fields and managing suspense items efficiently. Finally, the course concludes with a detailed look at the Bank Reconciliation Icons, teaching you how to utilize these tools to your advantage, ensuring a thorough understanding of every aspect of the bank reconciliation process. This MIP Fund Accounting Courses module is essential for anyone responsible for financial reconciliation, offering all the tools needed to ensure accuracy and reliability in your financial reports.

  • Understanding the Budgeting Process in MIP Fund Accounting® (BUD)

    In the Budgeting Process (BUD) training for MIP Fund Accounting, participants will explore the essential steps for successfully entering and posting budget transactions within the system. This comprehensive training is crucial for ensuring accurate budget management, a foundational aspect of effective financial planning and analysis. The course begins with BUD 01: Budget Transaction Entry, which guides you through the initial step of establishing a session. This process is critical as it sets up the framework for entering budget data into the system, ensuring that all transactions are recorded within a specific context and timeframe. Next, you'll learn how to manually enter increases and decreases in your budget. This instruction covers the detailed input of budget adjustments, whether they are increases due to new funding or decreases due to cutbacks. Accurate entry of these figures is crucial for maintaining the integrity of your financial data and for reflecting true financial positions. The training also emphasizes the importance of editing budget transactions before posting. This step allows you to review and make necessary adjustments to any budget entries to ensure accuracy and completeness. Careful editing helps prevent errors that could impact financial reporting and decision-making processes. Finally, you will be instructed on how to correctly post budget transactions. This part of the course teaches the finalization of budget entries in the system, a critical step that officially incorporates the changes into your financial records. Proper posting ensures that your budget reflects updated and accurate financial data, which is essential for ongoing financial management and reporting. This segment of our MIP Fund Accounting Courses is indispensable for anyone involved in the budgeting process within their organization, offering detailed guidance and practical skills for managing budget entries effectively and accurately.

  • General Information About MIP Fund Accounting® (GEN)

    Our MIP Fund Accounting Training provides a thorough introduction to the essential features and functionalities of MIP Fund Accounting, designed to enhance your familiarity and proficiency with the system. This training segment starts by introducing general information about the software, followed by detailed instructions on navigation and customization to align the software with your operational preferences. Beginning with the basics, you'll learn how to effectively navigate the system, from accessing the software on your computer to exploring the Help and Support page, which is crucial for troubleshooting and enhancing user experience. The training emphasizes understanding the layout of the Navigator toolbar, showing where each main tab leads and how to customize your homepage and Process Manager to optimize workflow efficiency. Moving on to customization, the course delves into adjusting workstation settings. You'll discover where to find customization options and the benefits of different settings housed within each main file folder tab. These adjustments are pivotal in tailoring the software to meet your daily operational needs, enhancing both functionality and ease of use. Furthermore, a significant portion of the training is dedicated to understanding various transaction types within MIP Fund Accounting. This knowledge is vital for anyone involved in financial operations, as it ensures correct transaction processing and enhances the ability to track and report financial data accurately. This segment of our MIP Fund Accounting Courses is indispensable for users looking to get the most out of their financial software, providing all necessary tools and information to navigate and customize the system effectively, thereby supporting robust financial management and reporting.

  • Understanding General Ledger Setup in MIP Fund Accounting® (GLS)

    Explore the core aspects of managing financial accounts with our MIP Fund Accounting Training, focusing on General Ledger Setup. This module is tailored to provide an extensive understanding of how to efficiently add and maintain accounts within the MIP Fund Accounting system, ensuring that your financial reporting and management are both accurate and streamlined. The training begins with an in-depth look at General Ledger account types, where you'll learn the significance of each type and what it represents within the accounting system. This foundational knowledge is crucial for anyone involved in financial operations, as it aids in proper account classification and management. Following the basics, the course delves into the practical aspects of adding new accounts to the chart of accounts. Instructions include how to search for existing accounts, use a wizard to enter new accounts, and choose appropriate account types when selecting the GL segment. Moreover, you'll learn techniques like mirroring new accounts from existing ones, which simplifies the setup process and ensures consistency across your financial records. Additionally, the training covers the setup and maintenance of distribution codes—defining what they are, how to add new ones, and the options available for setting them up. This section is complemented with helpful tips to maximize the use of distribution codes, enhancing the efficiency and accuracy of financial distributions. The module also addresses the importance of offset and closing account assignments. You'll discover how offset accounts can enhance efficiency by automatically balancing entries, and you'll receive step-by-step guidance on setting up these assignments. The section on closing accounts will explain how and when to use them, particularly in facilitating year-end financial closure and ensuring that all financial activities are accurately accounted for. This segment of our MIP Fund Accounting Courses is indispensable for those looking to refine their skills in financial account management, offering comprehensive tools and insights to handle general ledger setups effectively.

  • Understanding General Ledger Transactions in MIP Fund Accounting® (GLT)

    Gain essential knowledge on managing General Ledger Transactions with our MIP Fund Accounting Training, which provides a comprehensive exploration into various types of transactions and the practical application within the system. This module is designed to ensure that participants become proficient in recording and managing financial transactions accurately. The training kicks off with an in-depth guide on entering Journal Vouchers. You'll learn the process of establishing a session, manually entering debits and credits, editing journal vouchers before posting, and the correct methods to post these vouchers. This foundational knowledge is crucial for maintaining accurate financial records and ensuring that all entries are accounted for correctly in the general ledger. Next, the course introduces the use of Auto Reversal in Journal Vouchers, a feature that simplifies the correction of entries. You'll explore when to use Auto Reversal, the different options available, and the specific fields required for each option. This segment is particularly useful for ensuring continuity and accuracy in financial reporting, especially in handling month-end or year-end reversals. For those handling cash transactions, the module covers entering Cash Disbursements and Cash Receipts in detail. You'll learn how to properly fill out session information for disbursements, use the correct fields such as the check number and 1099 coding, and code expense lines accurately. Additionally, the training provides guidance on running unposted transaction reports and posting these sessions, critical steps in financial management. When entering Cash Receipts, the course details how to create or edit a cash receipt, the proper information to include, and how to ensure that debits and credits are correctly entered and balanced. This part of the training is invaluable for those who manage incoming cash flows, providing them with the skills to handle receipts efficiently and accurately. This segment of our MIP Fund Accounting Courses is crucial for anyone responsible for the financial transactions of their organization, offering comprehensive training on how to manage general ledger entries effectively and ensuring the integrity of financial data.

  • Understanding Report Setup in MIP Fund Accounting® (RPS)

    Embark on mastering the intricacies of report generation with our MIP Fund Accounting Training, specifically tailored to guide you through the Report Setup module. This comprehensive course covers all aspects needed to produce accurate and insightful financial reports, crucial for informed decision-making within any organization. The training begins by focusing on understanding report dates, which is fundamental in generating reliable reports. You'll learn the differences between default and custom reports, how to properly set up report dates based on the fiscal year, and the nuances of entering information into Balance Date and Current Period Date boxes. This segment ensures you can simulate a year-end close effectively, a critical skill for accurate annual reporting. Moving deeper into the setup, the course covers the Report Setup Tab, where you'll learn how to include report names, specify date ranges, and simulate year-end closures within your reports. Each of these elements is vital for customizing reports to meet specific organizational needs. In the Report Content Tab section, you will discover how to navigate and utilize the top and bottom halves of the screen effectively, selecting the right items to include in your report. This part of the training also offers helpful tips to enhance your reporting capabilities. The module then progresses to the Report Filter and Group Tabs, teaching you how to apply filters and group data in reports for more targeted analysis. You'll learn how to select filters and segment data, assigning them to group sets which facilitate more detailed and organized reporting structures. Additionally, the training delves into the Layout and Security Tabs, where you'll explore how to adjust the visual aspects of your reports, such as font and page setups, and manage report access to ensure data security. An important part of the course is understanding financial statement formats. You will learn about different types of financial statements, such as the Statement of Revenue and Expenditures, and how to create specific financial statement formats. This knowledge is essential for tailoring reports to conform to standard accounting practices or specific internal requirements. Lastly, the Reporting Icons section will introduce you to the various icons on the top toolbar of the reporting module, enhancing your efficiency in report creation and management. This segment of our MIP Fund Accounting Courses is indispensable for anyone involved in financial reporting, providing the tools and knowledge to generate precise and actionable financial reports.

  • Understand Report Production in MIP Fund Accounting® (RPT)

    Delve into the essentials of Report Production with our MIP Fund Accounting Training, which provides detailed insights into the various reports you can generate within the system. This module is designed to enhance your ability to produce key financial documents, crucial for effective management and compliance within your organization. Starting with Unposted Transaction Reports, the course outlines the correct steps to create and modify these reports. You’ll learn about the functionalities of each main file folder tab and the significance of each icon on the Icon toolbar. This report type is vital for tracking transactions that have been entered but not yet finalized, providing a clear view of pending financial activities. Next, the training shifts focus to the Expanded General Ledger Report. You’ll explore the steps necessary to generate and refine this comprehensive report, which provides a detailed look at all ledger entries. The module also covers the different options available in the options tab, allowing you to tailor the report to meet specific analytical needs. The course then guides you through creating the Statement of Revenue and Expenditures. This section teaches the proper steps to develop and adjust this critical financial statement, which outlines your organization’s income and spending over a specific period. You will learn about the purpose of each file folder tab and the various options that can enhance the report's utility. Finally, you will master the Balance Sheet report production. This essential financial statement provides a snapshot of your organization’s financial standing at a given moment, showing assets, liabilities, and equity. The training details how to run this report effectively, including understanding each main file folder tab and utilizing the options tab to customize the report to reflect accurate and relevant financial information. Each part of this segment of our MIP Fund Accounting Courses is crucial for anyone responsible for the financial reporting of their organization, offering the knowledge and skills needed to produce precise and comprehensive financial reports.

  • Tips & Tricks in MIP Fund Accounting® (TNT)

    Uncover time-saving strategies with our MIP Fund Accounting Training in the Tips and Tricks (TNT) section, designed to enhance both your transactional and administrative efficiency when using MIP Fund Accounting. This valuable part of the course is structured to provide practical, easy-to-implement tips that streamline processes and improve operational effectiveness. Starting with TNT 01, we focus on "10 Transactional Efficiencies." This segment covers a range of techniques aimed at optimizing transactional processes within MIP Fund Accounting. Whether you are entering data, managing accounts, or preparing reports, these efficiencies will help you reduce time spent on routine tasks while ensuring accuracy and compliance. In TNT 02, "Five Vendor Setup Must Knows," the training highlights essential aspects of vendor management that can significantly impact your financial operations. Learn the ins and outs of handling multiple vendor addresses, setting default coding to streamline data entry, understanding default net days due in the vendor file, renaming vendor IDs efficiently, and reversing a single check from a batch of voided checks. These tips are crucial for maintaining an organized and functional vendor file, which is critical for accurate payable management. Lastly, TNT 03 delves into "Ten Items in Administration You Should Know About." This section is tailored to arm you with administrative knowledge and shortcuts that enhance backend functionality and user experience. It includes vital information on system customization, user access management, security settings, and more, providing a comprehensive toolkit for effective system administration. These segments of our MIP Fund Accounting Courses offer invaluable insights and methods to optimize your use of the software, saving time and reducing errors. Perfect for users at all levels, these tips and tricks are essential for anyone looking to improve their proficiency and productivity in MIP Fund Accounting.

  • Vendor Setup & Maintenance in MIP Fund Accounting® (VEN)

    Dive into the nuances of Vendor Setup & Maintenance with our targeted MIP Fund Accounting Training segment, designed to equip you with all the essential knowledge and skills needed to effectively establish and maintain vendor records in the system. This course segment focuses on providing detailed instructions and best practices for managing vendor relationships through MIP Fund Accounting, ensuring accurate and efficient vendor management. The training begins with VEN 01: Vendor- Setup and Maintenance, where you'll learn the standards for establishing a vendor ID—a crucial first step in creating a reliable vendor database. This foundational knowledge is essential for ensuring all vendor information is systematically organized and easily accessible. Further, the course will guide you through the process of adding one or more addresses for each vendor. This capability is particularly important for handling vendors with multiple operational locations or different billing and shipping addresses, allowing for more precise communication and transaction processing. You will also explore various key points related to payment terms, default coding, and 1099 information. Understanding how to set default payment terms and coding options can significantly streamline your accounts payable processes, reducing the risk of errors and ensuring compliance with tax regulations. Additionally, correctly managing 1099 information is critical for adhering to IRS reporting requirements, making this training essential for financial compliance. Moreover, the segment on vendor notes will teach you how to utilize the notes field to store important information about vendor relationships, special conditions, or other critical details that do not fit into standard data fields. This feature enhances the functionality of your vendor database, allowing for richer data management and retrieval. This section of our MIP Fund Accounting Courses is invaluable for anyone responsible for vendor management within their organization, offering comprehensive tools and insights to handle vendor setup and maintenance effectively.