MIPC306 – MIP Cloud Accounts Payable Analysis

Course Level: Basic
Prerequisites: MIPC305 – MIP Cloud Accounts Payable Processing or FA205 – MIP Fund Accounting Accounts Payable Processing
Instructional Method: Self-Study (virtual trainer plus comprehensive training guide)
Recommended CPE Credits: Not Eligible for CPE
Access Period: One Year from Purchase
Estimated Time to Complete: 2 Hours
Published: 09/19/2023

In this recorded session, we will practice analyzing errors found in the Accounts Payable module. We begin with a discussion of available report categories, then a review of the corrections toolkit. Afterward, we will review several common accounts payable issues and the resolutions to each. Lastly, we’ll discover what features in the software can be used to prevent data entry errors.

This course covers topics related to the following modules:

Accounts Payable

By the end of the session, you will be able to:

Create reports for vendor information, payments, and analysis.
Access the vendor balances form and use Accounts Payable Analysis reports to review vendor balances.
List three common accounts payable issues and their solutions including methods to troubleshoot to find a resolution.
What features in the software can be used to prevent data entry errors with memorize documents, user defaults, and organization specified entry date controls.

Topics start at these timestamps:

1:18 Report Categories Overview (List, Transaction, Analysis, Financial Statements)
2:27 Report Navigation & Vendor Type/Class Fields
8:32 Activity: Creating a Vendor List Report
20:07 Vendor Payment Reports Overview (Check Voucher Register, Journals)
22:18 Posted/Unposted GL Transaction Reports (Audit Columns)
24:04 Vendor Activity: Check Activity Report
26:14 Activity: Check Register with Payee Information
34:48 Activity: Expenditure Journal with GL Subtotal
35:37 AP Analysis Reports Overview & Subledger-to-GL Comparison
45:57 Activity: Trial Balance for the AP Control Account
51:24 Activity: Aged Payable Report (Comparing to Trial Balance)
56:44 Displaying Vendor Balances (Drill-Down Levels)
1:03:28 Copying & Reversing Posted Documents Overview
1:04:45 Activity: Reversing a Posted AP Invoice
1:15:54 Voiding Checks Overview
1:18:04 Activity: Voiding a Check
1:28:17 Case Studies: Future-Dated Invoices & Reversal Document Numbers
1:33:52 Preventing Errors: Distribution Codes, Offsets & Entry Dates

MIPCC308 – MIP Fund Accounting Accounts Receivable Billing: Consultants

Course Level: Basic
Prerequisite: General Ledger Transaction Entry, MIP Cloud Accounts Receivable Processing
Instructional Method: Self-Paced
Recommended CPE Credits: None
Two-Hour Class
Published: 11/2023

Certified Consultants: View this class to learn how to take advantage of advanced receivable features in MIP Cloud. This course focuses on using the Accounts Receivable Billing module. The Accounts Receivable Billing module seamlessly integrates with the Accounts Receivable Reporting module providing more options for reducing costs and improving service. Learn how to set up sales taxes, generate and print customer invoices, and prepare customer statements.

For additional training, and to learn more about daily processing tasks in the Accounts Receivable Reporting module, complete the “MIPC307 – MIP Cloud Accounts Receivable Processing” course. To learn how to create your own customer statement formats complete the “FA326 – MIP Fund Accounting Forms Designer” course.

By the end of the session, you will be able to:

Create sales tax authorities and sales tax codes
Apply sales taxes to taxable customers
Print accounts receivable invoices
Edit printed but unposted accounts receivable invoices
Void posted accounts receivable invoices

MIPC315 – MIP Cloud Reporting

Course Level: Basic
Prerequisites: Participants must have access to the web component of MIP Cloud prior to class.
Instructional Method: Self-Study (virtual trainer plus comprehensive training guide)
Recommended CPE Credits: Not Eligible for CPE
Access Period: One Year from Purchase
Estimated Time to Complete: 1 Hour
Published: 12/15/2022

MIP Cloud delivers everything you need to track, report, and manage finances according to your unique revenue sources in an intuitive modern user interface. This recorded session focuses on generating reports, reviewing content, and becoming familiar with the reporting interface.

One of the key requirements of accounting software is the ability to retrieve and view your data the way it makes sense to you. In this course, you will gain an understanding of the reporting engine, by examining the report builder, default reports, filter options, and date fields available through MIP Cloud Reporting. You will also review list reports, transaction reports, and analysis reports.

During the course you will be able to complete hands-on activities, using the included training guide, that will familiarize you with using default reports and creating your own custom reports.

For additional training, and to learn more about reports and financial statements, attend the “MIPC216 – MIP Cloud Financial Statements” and “MIPC217 – MIP Cloud Advanced Reporting Functions” courses.

By the end of the session, you will be able to:

Create, view, and export reports using the Report Builder.
Identify the information available in List, Transaction, and Analysis reports.
Define date selections for reports.
Export reports using the Report Queue.

Topics start at these timestamps:

0:51 Reports Menu Structure & Categories
1:58 Report List View: Sorting, Searching & Creating New Reports
2:22 Default vs. Custom Reports
2:49 Viewing & Exporting Reports (HTML, PDF, Excel)
3:26 Report Builder Command Buttons
3:48 Activity: Copying a Default Report to Create a Custom Report
4:51 Report Builder Tabs Overview
5:07 Setup Tab: Assigning Columns
5:52 Filter Tab: Narrowing Report Data
8:23 Options Tab
8:37 Layout Tab: Fonts, Columns, Margins & Orientation
9:36 Report Queue: Generating & Retrieving Reports
11:40 Report Categories Overview (Lists, Transactions, Analysis, Financial Statements)
12:03 List Reports
12:27 Activity: Editing a List Report (Chart of Accounts)
16:40 Transaction Reports (Check Voucher Register, Journals)
18:29 Activity: Editing an Expenditure Journal Report
25:21 Analysis Reports: Standard vs. Expanded General Ledger
27:10 Activity: Editing an Expanded General Ledger Report
33:08 Trial Balance Reports (Normal, Comparative, Working)
34:53 Activity: Editing a Normal Trial Balance Report
41:26 Drill-Down Feature: Viewing Transaction Detail

MIPC305 – MIP Cloud Accounts Payable Processing: Self-Study

Course Level: Basic
Prerequisite: Participants must have access to the web component of MIP Cloud prior to class.
Recommended Prerequisite: MIPC303 – MIP Cloud Basic Transactions: Recorded Session
Instructional Method: Self-Study (virtual trainer plus comprehensive training guide)
Recommended CPE Credits: Not Eligible for CPE
Access Period: One Year from Purchase
Estimated Time to Complete: Two Hours

This self-study course covers learn time-saving techniques for processing and reporting accounts payable transactions in MIP Cloud. Working through a series of real world lessons, you will learn each step in the accounts payable cycle from creating vendors, to entering invoices, to printing checks. You will also explore reporting options and how to use the Accounts Payable dashboard to assess your organization’s complete payables picture.

After completing this course, you will be able to:

Create and edit vendor records
Create accounts payable invoice sessions
Use techniques to streamline invoice entry
Post accounts payable invoice sessions
Select invoices for payment
Identify accounts payable reporting options
Use the Accounts payable dashboard to evaluate payable performance

Topics start at these timestamps:

0:00 Welcome & Class Overview
0:31 AP Module Overview: GL Account Types & Session Basics
7:52 Activity: AP Module Setup (Discounts & Processing Options)
10:30 Attachments Feature: Setup & Categories
14:00 Customizing Workstation Settings
19:00 Activity: Creating & Maintaining Vendors
32:00 Merging & Renaming Vendors
36:00 Activity: Entering AP Invoices (Session, Document & Transaction Line Setup)
48:00 Entry Types, Effective Dates & Data Entry Shortcuts
54:00 Activity: Using Distribution Codes
58:00 Setting Up Offset Account Assignments
1:03:00 Memorizing, Recalling & Processing Recurring Transactions
1:12:00 Posting Transactions
1:14:00 Activity: Entering Applied Credits & Credits on Account
1:22:00 Activity: Entering Manual AP Checks
1:28:00 Activity: Selecting Invoices for Payment
1:38:00 Printing & Posting AP Checks
1:45:00 Activity: Displaying Vendor Balances (Drill-Down Levels)
1:51:00 Accounts Payable Reports Overview

MIPC304 – MIP Cloud Correcting Transactions: Recorded Session

Course Level: Basic
Prerequisite: Participants must have access to the web component of MIP Cloud prior to class.
Recommended Prerequisite: MIPC305 – MIP Cloud Accounts Payable Processing
Instructional Method: Recorded Session
Recommended CPE Credits: Not Eligible for CPE
Access Period: One Year from Purchase
Estimated Time to Complete: One Hour

This recorded session will discuss correcting transactions in the general ledger, using the Accounts Payable module as an example. In this course, we will learn how to correct documents at the session level, or document level, as well as making corrections to the general ledger such as voiding checks or recording check spoilage. These concepts can be applied to multiple modules in the product.

For additional training, and to learn more about daily processing tasks in the Accounts Payable module, attend the “MIPC305 – MIP Cloud Accounts Payable Processing” course.

By the end of the session, you will be able to:

Reverse and copy entire sessions of documents.
Reverse and copy individual documents within sessions.
Void checks or vouchers, and record check spoilage.

Topics start at these timestamps:

3:04 Copying & Reversing Posted Sessions Overview
6:18 Activity: Copying a Posted Session
16:09 Activity: Reversing a Posted Session
19:25 Copying & Reversing Posted Documents Overview
25:18 Activity: Copying a Posted Document (Correcting Coding)
32:34 Activity: Reversing a Posted Document
37:38 Voiding Checks Overview (Restrictions & Reversing Invoices)
41:51 Check Spoilage Overview
43:24 Activity: Voiding a Check
50:02 Activity: Recording a Spoiled Check

MIPC303 – MIP Cloud Basic Transactions: Recorded Session

Course Level: Basic
Prerequisite: Participants must have access to the web component of MIP Cloud prior to class.
Recommended Prerequisite: None
Instructional Method: Recorded Session
Recommended CPE Credits: Not Eligible for CPE
Access Period: One Year from Purchase
Estimated Time to Complete: One Hour

This recorded session will discuss entering simple transactions in the general ledger such as journal vouchers, cash disbursements, cash receipts, write checks, and write receipts.

By the end of the session, you will be able to:

Create, edit, view and post basic general ledger transctions.
Discuss the auto-increment feature in the product
Cite considerations for creating session IDs
Produce a receipt of deposit or a write check in the application.

Topics start at these timestamps:

1:07 Journal Vouchers Overview (Sessions & Documents)
4:18 Activity: Entering & Posting a Journal Voucher
14:16 Cash Disbursements (Overview & Activity: Distribution Codes & Offsets)
24:18 Cash Receipts (Overview & Activity: Bank Rec Deposit Date & Number)
32:19 Write Checks (Overview & Activity: Printing a Check)
40:31 Receipt Writing (Overview & Activity: Printing a Receipt)

MIPC330 – MIP Cloud User Defined Fields: Self-Study

Course Level: Advanced
Prerequisite: Participants must have access to the web component of MIP Cloud prior to class.
Instructional Method: Self-Study (virtual trainer plus comprehensive training guide)
Recommended CPE Credits: Not Eligible for CPE
Access Period: One Year from Purchase
Estimated Time to Complete: One Hour

This self-study course will show you how to unlock the potential of User Defined Fields and enhance your ability to gather and report customized
organizational data. You will also learn how to create different types of user defined fields and practice applying them to the sample data. How to
easily configure the data type, associated record types, or various characteristics of the UDF will also be covered.

After completing this course, you will be able to:

Identify which UDF categories and types are available.
Identify which field type characteristics can be assigned to user defined fields.
Set up master-type, document-type, and transaction-type UDFs.
Enter transactions with UDF values.
Return UDF values in a report.

MIPC302 – MIP Cloud Accounting Admin and Setup: Self-Study

Course Level: Basic
Prerequisite: Participants must have access to the web component of MIP Cloud prior to class.
Recommended Prerequisite: None
Instructional Method: Self-Study (virtual trainer plus comprehensive training guide)
Recommended CPE Credits: Not Eligible for CPE
Access Period: One Year from Purchase
Estimated Time to Complete: Two Hours

This self-study course tours the available setup items in your MIP Cloud database as it pertains to your general ledger and reporting. You will learn how to set up chart of account codes and use the model account feature. This is followed by a discussion on features critical to reporting with closing account assignments and offset account assignments. We also include a section on expediting data entry and preventing errors with lessons on distribution codes and account code combinations. Finally, you’ll learn how to attach documents to the available transaction types in the application

For additional training, and to learn more about administrative setup of the application, attend the “FA201 – System Administration” course.

After completing this course, you will be able to:

Create chart of accounts codes, and use model accounts.
Create offset account assignments, closing account assignments, account code combinations and distribution codes.
Distinguish between valid and invalid account code combinations.
List which forms the attachments feature is available for in the application, and demonstrate how to attach documents.

Topics start at these timestamps:

1:47 Adding Accounts to the Chart of Accounts
8:25 Grants Administration Setup
12:18 Activity: Entering a Check Reorder Point & Adding New GL/Fund Codes
19:00 Offset Account Assignments Overview
22:54 Activity: Setting Up & Copying Offsets
28:37 Closing Account Assignments Overview
32:17 Activity: Setting Up & Copying Closing Account Assignments
36:06 Account Code Combinations Overview (Valid/Invalid Setup)
41:11 Activity: Generating Account Code Combinations
45:40 Distribution Codes
48:57 Attachments (Categories)
55:21 Entry Defaults (User-Level)

MIPC301 – MIP Cloud System Administration: Recorded Session

This recorded session will discuss creating an organization’s accounting database, and performing general application housekeeping and administration. You will receive an overview of the structure and design of the components of the database and in-depth information on the utilities that control the database itself and the integrity of the data entry process for the database.

For additional training, and to learn more about daily processing tasks in the Accounts Payable module, attend the “MIPC302 – MIP Cloud Accounting Administration and Setup” course.

By the end of the session, you will be able to:

Navigate within both MIP Cloud interfaces: the modern user interface and the classic user interface.
Create a new organization database and modify organization settings.
Attach encrypted documents in the cloud and manage categories
View available activity and audit logs
Initiate data integrity checks and review the default table structure

Topics start at these timestamps:

4:52 Creating a New Organization (Classic)
9:32 Chart of Accounts Structure: Segments, Types & Functions
16:04 Modules, Field Blanks & Finishing Organization Setup
18:21 Organization Information: What Can & Cannot Be Modified
23:59 Organization Settings in Cloud (Info Tab & Grants Administration)
27:13 Preferences: Processing (Summarized Entries & Account Code Combinations)
32:24 Entry Dates (Warnings & Prohibits)
38:08 Session ID Setup
41:08 Document Number & Document ID Control
44:26 Module Setup & Account Level Security (Advanced Security)
47:12 Data Protection (Session Timeout) & Email Setup
48:10 Data Integrity Checks
51:53 Closing the Fiscal Year (Check for Errors)
55:39 User-Defined Fields
57:57 Attachments (Categories & Encryption)
1:11:00 Audit Trails (System & Summary Organization)
1:17:10 System Activity (Concurrent Users & Force Sign Out)
1:22:31 Managing Users & Groups (Portal Setup & Rights Assignment)
1:30:05 List Reports (Security, UDFs, Groups)

MIPC310 – MIP Cloud EFT for AP: Recorded Session

Course Level: Basic
Prerequisites: General Ledger Transaction Entry
Instructional Method: Recorded Session (recorded instructor led discussion with training guide)
Recommended CPE Credits: Not Eligible for CPE
Access Period: One Year from Purchase
Estimated Time to Complete: One Hour

View this recorded session to learn how to use the Electronic Funds Transfer for Accounts Payable module to save time, money, and the hassle of printing and mailing checks. The module seamlessly integrates with the Accounts Payable module providing more options for reducing costs and improving service. Learn how to distribute payments via electronic funds transfer.

For additional training, and to learn more about daily processing tasks in the Accounts Payable module, attend the “MIPC305 – MIP Cloud Accounts Payable Processing” course.

After completing this course, you will be able to:

Set up electronic funds transfer banking information
Discuss pre-notes, their creation and use
Add vendor bank information to vendor records
Create vendor payment vouchers
Create an electronic file of vendor payments
Produce reports of vendor electronic funds transfer payments

Topics start at these timestamps:

2:46 Setting Up EFT: Organization Bank Information
7:30 Setting Up Bank Account Details (Cash Account, ACH File Type, Pre-Notes)
11:37 Setting Up Bank Holidays
13:07 EFT Vendor Email Notifications
15:20 Activity: Setting Up a Vendor for EFT Payments
20:55 Activity: Selecting & Paying Invoices via EFT
28:42 Generating & Sending the ACH File to the Bank
32:03 Payment Register Report