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Reckon Accounting Software Review

With a true blue Aussie backstory – founded over 30 years ago off the back of a maxed-out credit card and a loan against a dodgy old Holden Commodore – Reckon today is the accounting software of choice for more than 200,000 businesses across Australia and New Zealand.

The Reckon software range, formerly branded as ‘Quicken’, covers the accounting needs of small business and large businesses, as well as professional accountants. But what can Reckon offer your business? Find out with this Canstar Blue guide.

Reckon Accounting Software

Reckon offers a wide range of products and packages for companies of all kinds of sizes, from sole traders to large businesses and even professional accountants.

Reckon’s main offering is Reckon One, an accounting solution specifically designed for small businesses, with the aim to make accounting simple and provide businesses with the tools they need to run and grow their business. There are a number of plans available, ranging from The Basics for those who just need a simple accounting solution, a Payroll option for those who just assistance during the pay-run, or you can opt for The Premium option if you’re looking to go the full nine-yards.

Other products under the Reckon banner are:

  • Reckon APS – Practice Management for accounting firms.
  • Better Clinics – an online health management system for health professionals.
  • Better Bookings – scheduling software and online bookings for businesses across all industries.
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Basics

The tools you need to make running your business easier.

  • Enter payments and expenses
  • Track and report GST for BAS
  • See cash flow in real-time
  • Create budgets
  • 30+ insightful reports
  • Share with accountant
  • 3 Months Free. Use Code (3MTHTRL). New customers only. T&Cs Apply.
from $10.00/month
min. cost $10.00 over 1 month
Go to site
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Essentials

The tools you need to make running your business easier.

  • Enter payments and expenses
  • Track and report GST for BAS
  • See cash flow in real-time
  • Create budgets
  • 35+ insightful reports
  • Share with accountant
  • Unlimited invoices and bills
  • 1000 bank transactions*
  • 3 Months Free. Use Code (3MTHTRL). New customers only. T&Cs Apply.
from $25.00/month
min. cost $25.00 over 1 month
Go to site
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Essential & Payroll

The tools you need to make running your business easier.

  • Enter payments and expenses
  • Track and report GST for BAS
  • See cash flow in real-time
  • Create budgets
  • 50+ insightful reports
  • Share with accountant
  • Unlimited invoices and bills
  • Unlimited payroll
  • 3 Months Free. Use Code (3MTHTRL). New customers only.
  • T&Cs Apply.
from $35.00/month
min. cost $35.00 over 1 month
Go to site

What features does Reckon offer?

Reckon One includes the following functions and features.

  • See cash flow in real-time
  • Enter payments and expenses
  • GST & BAS reports
  • Create budgets
  • 35+ insightful financial reports
  • 1,000 automatic bank feeds
  • Unlimited invoices and bills
  • Unlimited payroll
  • Single Touch Payroll compliant
  • Unlimited timesheets
  • Unlimited employee expenses
  • Unlimited project management

Plus, Reckon also offers the following benefits

  • Free phone support during business hours
  • Free 24/7 online community support
  • SSL encryption
  • Automatic data backups
  • Share your data with your accountant or bookkeeper
  • Free, regular feature updates
  • Data stored in Australia on AWS servers
  • Cancel anytime

What plans does Reckon offer?

Using accounting software

Reckon One gives you multiple plans to choose from, including choosing from pre-selected bundles, or opting to build your own package to create a plan that fits your business. Pre-selected bundles include the Basics at $10/month, Essentials priced at $25/month, Pro at $35/month and the Premium plan at $49/month. Feature modules include those below.

Reckon Invoicing

  • Send unlimited invoices
  • Enter and pay bills
  • Customisable invoice templates
  • Convert estimates to invoices
  • Accept online credit cards & PayPal payments
  • Send invoices from your mobile
  • Set up automated or recurring invoices
  • Pre-set tax codes to automatically calculate GST and other taxes
  • Receive payment for invoices by MasterCard, Visa, American Express
  • Store your documents for easy reference and access during tax time
  • Sales and purchase approvals process across your different teams

Reckon BankData

  • Connect to your bank accounts and credit cards
  • Streamline the bank reconciliation process
  • Automatically import transactions
  • Sort and categorise transactions
  • Includes 1,000 bank transactions

Reckon Payroll

  • Unlimited employees
  • Process employee pay runs
  • Single Touch Payroll compliant
  • Email employee payslips
  • Track leave & entitlements
  • Calculate superannuation and obligations
  • Process manual and scheduled pay runs
  • TFN declaration
  • Automatic compliance updates
  • Produce SAFF files to meet SuperStream compliance:
  • Lodge SuperStream compliant file automatically via NAB Super Pay or Ozedi SuperStream Gateway

Reckon Employee Expenses

  • Employee expense tracking
  • Batch expense claims
  • Bill expenses to clients or projects
  • Expense claim approvals
  • Attach receipts to expense claims

Reckon Projects & Jobs

  • Create projects & sub projects
  • Bill projects and sub projects
  • Track and bill customers by project (with Invoices add-on module)
  • Track suppliers by project
  • Set up item rate by project

Reckon Time

  • Daily & weekly timesheets
  • Track time for employee hours
  • Email & print timesheets
  • Use timesheets to create pay runs

Should I choose Reckon accounting for my business?

Reckon One is well-known within the accounting software market, and is arguably one of the more affordable options available. However, whether or not this is good value will depend on what you want to get out of your software. While it’s cheaper, it seems that it doesn’t have as many features and functions as some of its competitors – but maybe that’s exactly what you’re looking for. Every business is different, but if you’re looking for cost-effective account solutions you should look further into Reckon One to see if it can meet your business needs. If you’re looking to see what else is out there, check out our ratings for accounting software platforms.
Photo credit: Shutterstock.com

About the author of this page

Dean Heckscher Canstar Blue

This report was written by Canstar Blue’s Content Projects Lead, Dean Heckscher. He’s our resident expert on all things automotive, health & fitness, streaming and more. Dean is also one of Canstar Blue’s customer research report producers, helping to turn complicated subjects into easily-digestible information for our readers. He’s passionate about helping consumers make better-informed purchase decisions on all manner of consumer goods and services.