Compare Xero and MIP Fund Accounting - Mar 2022

Shlomi Lavi

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Bottom Line: Which is Better - Xero or MIP Fund Accounting?

MIP Fund Accounting is more expensive to implement (TCO) than Xero, and Xero is rated higher (94/100) than MIP Fund Accounting (75/100). MIP Fund Accounting offers users more features (15) than Xero (13).

Looking for the right Core Accounting solution for your business? Buyers are primarily concerned about the real total cost of implementation (TCO), the full list of features, vendor reliability, user reviews, and the pros and cons. In this article we compare between the two software products:

Xero Vs. Abila Inc

Xero : Xero was founded in July 2006 by successful technology entrepreneur Rod Drury and specialist small business accountant Hamish Edwards. Xero is listed on the New Zealand Stock Exchange and the Australian Securities Exchange and is a fast growing company with teams in Wellington, Auckland, Melbourne, Sydney, Brisbane, San Francisco, and Milton Keynes...

Abila Inc: Abila serves strategic leaders and managers in dynamic nonprofit organizations and government agencies through high-value solutions. Organizations trust Abila to simplify and streamline processes in order to perform their best work and focus on delivering their unique mission. For Abila, it’s personal and backed by a team with more than 30 years o...

Who is more expensive? Xero or MIP Fund Accounting?

The real total cost of ownership (TCO) of Core Accounting software includes the software license, subscription fees, software training, customizations, hardware (if needed), maintenance and support and other related services. When calculating the TCO, it's important to add all of these ”hidden costs” as well. We prepared a TCO (Total Cost) calculator for Xero and MIP Fund Accounting.

Xero price starts at $12 per month , On a scale between 1 to 10 Xero is rated 2, which is much lower than the average cost of Core Accounting software. MIP Fund Accounting price starts at $0.10 per license , When comparing MIP Fund Accounting to its competitors, the software is rated 2 - much lower than the average Core Accounting software cost.

Bottom line: Xero cost is around the same cost of MIP Fund Accounting.

Which software includes more/better features?

We've compared Xero Vs. MIP Fund Accounting based on some of the most important and required Core Accounting features.

Xero: this software is considered "feature-rich" with more than 10 important features, here is a partial list: Accounts Payable, Accounts Receivable, Billing & Invoicing, Budgeting & Forecasting, Fixed-Assets, Purchase Orders, Data Analysis Tools, Forecasting.

MIP Fund Accounting: Accounts Payable, Accounts Receivable, Audit Trail, Balance Sheet, Billing & Invoicing.

Target customer size

Xero is best for small businesses, freelancers and non-profit organizations. MIP Fund Accounting is suitable for all types of business.