MIPC216 – MIP Cloud Financial Statements

Course Level: Basic
Prerequisites: Attend MIPC215
Recommended Prerequisites:
Instructional Method: Group Internet Based
Recommended CPE Credits: 1.5
90 Minute Class

This course builds on the skills learned in Reporting while focusing on creating basic financial statements. Learn the requirements for building custom financial statement formats for the two most common statement types: a balance sheet, and the statement of revenues of expenditures. This course will train users how to take advantage of the default financial statements feature. You will also learn how to create basic custom financial statements, assign general ledger codes to existing formats, and build an entire financial statement format complete with sub-sections.

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

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

  • Print default financial statements
  • Create custom financial statement formats
  • Create custom financial reports

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.

MIPC317 – MIP Cloud Advanced Reporting Functions

Course Level: Advanced
Prerequisite: Participants must have access to the web component of MIP Cloud prior to class.
Recommended Prerequisite: MIPC216 – MIP Cloud Financial Statements
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: 1.5 hours
Published: 11/2024

This Self-Paced course is designed to take your financial reporting skills to the next level. This course covers the creation of complex financial statements. The use of segment substitution, report groups, segment substitution with report groups, and column subtotals will be introduced in various required financial statements.

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

  • Incorporate segment substitution into custom financial statements
  • Incorporate report groups into custom financial statements
  • Create columnar based financial statements and incorporate subtotals
  • Create FAS 117 compliant financial statements
  • Create a GASB 34 Statement of Activities

MIPC316 – MIP Cloud Financial Statements

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: 1.5 Hour
Published: 8/2024

This recorded session builds on the skills learned in Reporting while focusing on creating basic financial statements. Learn the requirements for building custom financial statement formats for the two most common statement types: a Balance Sheet, and the Statement of Revenues and Expenditures. This course will train users how to take advantage of the default financial statements feature. You will also learn how to create basic custom financial statements, assign general ledger codes to existing formats, and build an entire financial statement format complete with sub-sections.

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

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

  • Print default financial statements
  • Create custom financial statement formats
  • Create custom financial reports

FA106 – MIP Fund Accounting Finance & Reporting Workshop

Course Level: Basic
Prerequisites: We recommend a general understanding of product navigation.
Instructional Method: Group Live
Training Guide Format: Digital PDF
Recommended CPE Credits: 32
Four Day Class
Published: 11/2023

Our most comprehensive classroom offering, this intensive 4-day course focuses on primary financial activities and reporting, providing a strong foundation for new customers and a broad understanding for more experienced customers. This course is ideal for a wide range of accounting professionals responsible for high level administrative tasks, transaction processing, and advanced financial reporting including, general accountants, staff accountants, financial specialists, and the hands-on Chief Financial Officer.

You will learn core features of the general ledger, accounts payable, bank reconciliation, budget, and reporting modules. Study topics include creating and maintaining chart of account codes, processing, and correcting accounts payable and general ledger transactions, creating and monitoring budgets, and reconciling bank accounts.

You will also learn daily processing tasks and skills that improve accuracy and save valuable time throughout the accounts receivable cycle. Learn how to create customers, enter invoices and credit memos, and process cash receipts and prepayments.

Then you will experience the powerful built-in reporting tools to create reports, including a deep dive into financial statements, advanced financial statement features, and fiscal year closing activities. Topics Covered: Quick & Default Financial Statements, Financial Statement Formats, Financial Statement Setup, Creating an R&E Financial Statement, Drill-Down Analyzer, Segment Substitution, Reporting on a Fiscal Year Other than The Organizations Fiscal Year, Statement of Cash Flows, Statement of Financial Position, GASB Statement of Activities, Forecasting, and Exporting Reports.

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

  • Set up accounting administration (chart of accounts, auto-functions, organization preferences, etc.).
  • Setup, process and troubleshoot accounts payable.
  • Set up and maintain user security.
  • Enter general ledger transactions, close fiscal years, and adjust closed year balances.
  • Reconcile cash accounts.
  • Enter and adjust budgets.
  • Set up default customer discount and prepayment information.
  • Create, rename or merge customers.
  • Enter accounts receivable invoices and apply credit memos and receipts.
  • Enter and apply prepayments.
  • Discuss options for correcting errors.
  • Review customer balances and transaction history.
  • Create and run financial statements.
  • Utilize advanced reporting functions.
  • Create fraud prevention notifications.
  • Registration for this course includes a full featured digital guide. You will be provided instructions and a key to your digital guide prior to class. Please consider the environment before printing your digital guide.

    Class is held on Monday from 1:00 – 5:00 p.m., Tuesday, Wednesday, Thursday, 9:00 a.m. – 5:00 p.m. and Friday, from 9:00 a.m. – 12:00 p.m.

    FA102 – MIP Fund Accounting Administration & Financial Reporting Workshop

    Course Level: Intermediate
    Prerequisites: FA101 – MIP Fund Accounting Core Workshop or at least six months experience working with transactions and reports.
    Instructional Method: Group Live
    Recommended CPE Credits: 14
    Two-Day Class

    Building on the topics discussed in the Core Accounting workshop, this advanced 2-day course is ideal for Controllers or Chief Financial Officers responsible for high level administrative tasks and advanced financial reporting. Topics discussed in this course include: accounting administration, general ledger, and general reporting, a deep dive into financial statements, and advanced financial statement features, and fiscal year closing activities.

    To get the most from this course we recommend that customers first take the FA101 – MIP Fund Accounting Core Workshop or have at least six months experience working with a variety of transactions and creating custom reports.

    Class is held:
    Thursday 9:00 a.m. – 5:00 p.m. and
    Friday 9:00 a.m. – 3:00 p.m.

    FA276 – MIP Fund Accounting Admin. & Financial Reporting LW

    Course Level: Intermediate

    Prerequisites: FA275 – MIP Fund Accounting Core Workshop or at least six months experience working with transactions and reports.

    Advanced Preparation: None

    Instructional Method: Group Internet Based

    Training Guide Format: Digital Online/Offline

    Recommended CPE Credits: 13

    Two-Day Class

    Published: 8/2020

    Building on the topics discussed in the Core Accounting workshop, this advanced 2-day Live Webcast course is ideal for Controllers or Chief Financial Officers responsible for high level administrative tasks and advanced financial reporting. Topics discussed in this course include: accounting administration, general ledger, and general reporting, a deep dive into financial statements, and advanced financial statement features, and fiscal year closing activities.

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

    • Create and modify an organization.
    • Set up attachments.
    • Create fraud prevention notifications.
    • Manage your database.
    • Set up and maintain user and security.
    • Create and run financial statements.
    • Utilize advanced reporting functions.

    To get the most from this course we recommend that customers first take the FA275 – MIP Fund Accounting Core Workshop or have at least six months experience working with a variety of transactions and creating custom reports.

    Registration for this course includes a full featured digital guide. You will be provided instructions and a key to your digital guide prior to class. Please consider the environment before printing your digital guide.

    Class is held each day from 9:00 AM – 4:30 PM CT. A one hour lunch break is included.

    FA230 – MIP Fund Accounting User Defined Fields

    Course Level: Advanced
    Instructional Method: Group Internet Based
    Recommended CPE Credits: 2
    Two-Hour Class

    Unlock the potential of User Defined Fields and enhance your ability to gather and report customized organizational data. Create different types of user defined fields and practice applying them to the sample data. Create reports with user defined fields. Understand the way UDF’s interact with your standard data tables and how to avoid common pitfalls and discouraged practices.

    FA218 – MIP Fund Accounting DrillPoint Reporting

    Course Level: Advanced
    Prerequisite: Participants must install the MIP Fund Accounting DrillPoint Reporting module prior to class
    Recommended Prerequisite:  FA216 – MIP Fund Accounting Financial Statements
    Instructional Method: Group Internet Based
    Recommended CPE Credits: 3
    Three-Hour Class

    MIP Fund Accounting DrillPoint Reporting provides additional reporting tools that leverage the familiar Microsoft Excel ® workbook. Attend this class to learn how to create, manage, and distribute fully customized and board-friendly financial reports. This course covers creating customized complex Excel based financial reports using your MIP Fund Accounting data. The use of templates, formatting, formulas, and drill-down access will be introduced using real world financial reports.

    Note: MIP Fund Accounting DrillPoint Reporting is a separate module. To get the most from the training experience participants must install the module and be assigned Designer rights prior to class.

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

    • Create customized report templates
    • Create basic financial reports
    • Add formulas and calculated columns to reports
    • Customize report formats and apply graphics to reports
    • Apply drill
    • down functionality to reports
    • Distribute reports to end users

    FA217 – MIP Fund Accounting Advanced Financial Statements

    Course Level: Advanced
    Recommended Prerequisite: FA216 – MIP Fund Accounting Financial Statements
    Instructional Method: Group Internet Based
    Recommended CPE Credits: 3
    Three-Hour Class
    Published: 02/2024

    Attend this class to take your financial reporting skills to the next level. This course covers the creation of complex financial statements. The use of segment substitution, report groups, segment substitution with report groups, and column subtotals will be introduced in various FAS 117 required financial statements. Creating custom charts and graphs is also discussed.

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

    • Incorporate segment substitution into custom financial statements
    • Incorporate report groups into custom financial statements
    • Create columnar based financial statements and incorporate subtotals
    • Create FAS 117 compliant financial statements
    • Create a GASB 34 Statement of Activities