Beaverton, Oregon - RBP Methods, a fund accounting and fundraising software solutions provider for nonprofit and governmental agencies, announced today the release of their new Leave Accrual enhancement for users of Sage North America’s MIP Fund Accounting software.
A four-time Campbell Award winner, Sage MIP Fund Accounting is a financial management solution preferred by many nonprofit and government organizations, and is used to plan and manage budgets, maximize grants, and quickly produce accurate customized reports.
RBP has created even more functionality with their Leave Accrual product which, with the click of a button, allows users to record leave related expenses while accruing leave liability based on the leave balances within the MIP Payroll period. The Leave Accrual product can manage leave liability by individual employee, account for pay increases, and factor in attendant costs such as Social Security and Medicare – all while tracking to specific grants or contracts.
“According to FASB 43 and GASB 16, nonprofit organizations should accrue liability for their employee’s rights to receive compensation for future absences,” explains John Copeland, Consultant of RBP Methods. “When they fail to do this, they can be taken by surprise when staff members take a large amount of time off at once, or when several employees take vacation during a time of limited funding. We noticed that many organizations struggle to track leave related expense to specific grants or contracts, and we saw a way to automate the process for them.”
Kent Arnold comments, “This product enhances and compliments the power of Sage MIP Fund Accounting’s Payroll and HR modules by allowing our clients to capture the costs as they run payroll. It will help them assign the expenses to the applicable funding sources.”
RBP Methods has created three different versions of Leave Accrual to cater to the specific tracking needs of Sage MIP Fund Accounting users and is very excited to help nonprofits and governmental organizations get the very best out of their technology investment with this new product.
