Hello friends. Let’s keep your funds straight. Claim on Cash and Due To/Due From do different jobs, and knowing which to use keeps your books clean.
Use Claim on Cash when many funds share one bank account. You keep a single bank, and MIP tracks each fund’s claim on that pool. Clean to reconcile, simple to explain, and no need for ten bank accounts.
Use Due To/Due From when funds owe each other money. Think inter-fund borrowing. Fund A pays an expense for Fund B. MIP records a receivable in one fund and a payable in the other. Your reports now show who owes who and why.
Here is the tip. Claim on Cash is about one shared bank account. Due To/Due From is about money moving between funds. Get those right and your reports tell the right story every time.
If you are a controller, accountant, or grants lead at a nonprofit or government, this is for you. Accounting software can be boring, but learning MIP does not have to be. Make one smart choice today and month end feels easier.
Want help setting this up or checking your fund flow. Visit our site to learn more and get in touch:
https://mcgoverncg.com/schedule/
https://www.freemipfundaccountingtraining.com/
