During the January user’s group, we reviewed the new FASB reporting requirements. Specifically, we discussed the changes in the standards for presentation net asset classes, decreasing them from three to two categories. NFP Partners’ Nonprofit Accounting Consultant, Stephanie Underwood demonstrated the use of report groups to meet this new requirement, while still maintaining your current business practices regarding classifications of restrictions.
Join us on February 21 at 10 a.m. for our next MIP Virtual Forum. We’ll revisit and expand on some unique reporting features in MIP, talk about the use of report groups, custom columns, substituting segments in your reports, and answer any other questions users have regarding reports. Please feel free to email additional topics for this month’s or future month’s forums to Laura at firstname.lastname@example.org. To register, click here.
The following virtual forum will take place on March 21, at 10 a.m. We will introduce, or revisit depending on your tenure with Abila MIP Fund Accounting™ software, some of our favorite data entry tips and tricks. We will touch on distribution codes, memorized transactions, recurring transactions, reversing items/session vs. entering credit memos, and more. We welcome input from any of our experienced MIP users. To register, click here.