Reckon One

Online accounting software for SMBs to analyze finances

About Reckon One

Reckon One is a web-based accounting solution offered by Australian vendor, Reckon. The solution is suitable for cafes, hotel owners, freelancers, accountants, bookkeepers, architects, engineers, real estate firms, non-profits, creative businesses, and other growing organizations. The tool offers various modules including billing and invoicing, bank reconciliation, payroll management, time and expense tracking, and jobs management.

Via the Reckon One dashboard, users can track cash flows in real-time and view the status of payments, receipts and taxes. Businesses can import their bank statements into the solution and then categorize or reconcile bank transactions using a BankData add-on module. Reckon One allows users to create scenarios for business finances, helping to improve forecasting.

Billing and invoicing features help with the tracking and receiving of payments from customers through their Visa, MasterCard, American Express card or PayPal accounts. Users can create invoices and select the preset tax codes within the system to automatically calculate Goods and Services Tax (GST) and other taxes. Discounts and other payment terms are also added to the invoice by selecting the appropriate codes offered by the solution.

Reckon One helps businesses to take strategic decisions by quickly viewing the profitability from each job in real-time. They can also forecast final costs by creating profit and loss reports. The tool offers AES-256 bit encryption and firewalls to ensure data protection. Automatic backups are also created to ensure the security of data.

Pricing starting from:

A$10.00/month

  • Free Version
  • Free Trial
  • Subscription

Key benefits of Reckon One

• Reckon One facilitates expense management by enabling employees to submit their expenses online, and businesses to batch-approve claims before processing the reimbursement through a single interface.

• The solution allows organizations to calculate billable and unbillable hours for analyzing the jobs and customers that are costing them the most.

• Reckon One offers payroll management features that allow businesses to run and save pay reports and calculate staff wages at the end of each cycle.

• Reckon One has native mobile apps for Android and iOS users, allowing them to create invoices, claim expenses and record timings for each job through their smartphone.

• The solution is SuperStream compliant which ensures that the organization is making superannuation contributions electronically for all their employees.

Devices

Business size

S M L

Markets

Australia, United Kingdom, New Zealand

Supported Languages

English

Pricing starting from:

A$10.00/month

  • Free Version
  • Free Trial
  • Subscription

Images

Reckon One Software - Reckon One user dashboard
Reckon One Software - Mobile interface for Android and iOS users
Reckon One Software - Reporting features
Reckon One Software - View budget summary reports
Reckon One Software - Allows users to reconcile bank transactions
Reckon One Software - Create and approve online invoices
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Reckon One video
Reckon One Software - Reckon One user dashboard Reckon One Software - Mobile interface for Android and iOS users Reckon One Software - Reporting features Reckon One Software - View budget summary reports Reckon One Software - Allows users to reconcile bank transactions Reckon One Software - Create and approve online invoices

Features

Total features of Reckon One: 31

  • Account Reconciliation
  • Accounting
  • Accounts Payable
  • Accounts Receivable
  • Activity Dashboard
  • Automatic Billing
  • Bank Reconciliation
  • Billing & Invoicing
  • Budgeting/Forecasting
  • CPA Firms
  • Cash Flow Management
  • Compliance Management
  • Data Import/Export
  • Employee Management
  • Expense Claims
  • Expense Tracking
  • Financial Reporting
  • General Ledger
  • Inventory Management
  • Invoice Management
  • Mobile Access
  • Nonprofits
  • Payroll Management
  • Project Accounting
  • Project Management
  • Purchase Order Management
  • Purchasing & Receiving
  • Sales Tax Management
  • Tax Management
  • Third Party Integrations
  • Timesheet Management

Alternatives

Xero

4.3
#1 Alternative to Reckon One
Xero is a cloud-based small business accounting software with tools for managing invoicing, bank reconciliation,...

QuickBooks Desktop Enterprise

4.5
#2 Alternative to Reckon One
QuickBooks Desktop Enterprise is an accounting software for small businesses which provides users with real-time access...

MYOB Business

3.8
#3 Alternative to Reckon One
MYOB Business is accounting software designed to help businesses of any size across Australia and New Zealand take care...

NetSuite

4.1
#4 Alternative to Reckon One
NetSuite provides organisations with an integrated system of cloud applications that helps them run their business....

Reviews

Overall rating

3.9 /5
(13)
Value for Money
3.9/5
Features
3.7/5
Ease of Use
3.5/5
Customer Support
3.4/5

Already have Reckon One?

Software buyers need your help! Product reviews help the rest of us make great decisions.

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Showing 5 reviews of 13
Erica N. Erica N.
Overall rating
  • Industry: Marketing & Advertising
  • Company size: 11-50 Employees
  • Used Daily for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Great Accounting Solution for small businesses

Reviewed on 16/3/2020

Pros

I would say affordability then ease of use. Since my business is still growing I had to switch to this product from another one and I haven't regretted. Invoicing has never been easier.

Cons

I am yet to see anything I don't like about this product

Verified Reviewer
Overall rating
  • Industry: Civil Engineering
  • Company size: Self Employed
  • Used Daily for Free Trial
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Likelihood to recommend 6.0 /10

Good software for point-of-sale businesses; less use for consulting

Reviewed on 28/10/2020

I liked Reckon One and would have stayed with it if I could have had a few more features relevant...

I liked Reckon One and would have stayed with it if I could have had a few more features relevant for consulting type businesses.

Pros

Easy to get the hang of even for someone with zero accounting background, like myself. Decent simple, intuitive features (mostly). Great dashboard.

Cons

The feature set is aimed at point-of-sale and online retail type businesses. As a consultant with a micro-business, my accounting needs are not great, but they are more complex than Reckon One could handle. I was going to need to purchase one of the top tier versions of Reckon just to do the few simple extras that I required.

Alternatives Considered

QuickBooks Desktop Enterprise, Xero and MYOB Business

Reasons for Choosing Reckon One

MYOB is expensive and I didn't need the name-brand experience or the ability to automate my accounting with the accountant

Switched From

MYOB Business

Reasons for Switching to Reckon One

Better price, better features, more intuitive, Australian based
Kim C. Kim C.
Overall rating
  • Industry: Accounting
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Likelihood to recommend 10.0 /10

Reckon One, a reliable and cost effective software

Reviewed on 9/12/2019

Reckon One has been great for me, if I forget to invoice someone, doesn't matter where I am as long...

Reckon One has been great for me, if I forget to invoice someone, doesn't matter where I am as long as I have internet, I can access my Book.

Pros

I like the how much you can get out of it for the price, compared to others in the market. It is easy to correct errors and has all the reports you need for small business, and has unlimited users. I also love that Reckon One is Australian Owned.

Cons

Some of the functions are aren't quite there, needs an on screen calculator for one.

Wayne V. Wayne V.
Overall rating
  • Industry: Online Media
  • Company size: Self Employed
  • Used Weekly for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 8.0 /10

Straight forward basic bookkeeping at a bargain price!

Reviewed on 19/7/2017

Cost effective simple straight forward accounting software for Australian Businesses. Excellent for...

Cost effective simple straight forward accounting software for Australian Businesses. Excellent for startups.

Pros

Bargain price for a freelance business. Easily integrate with your bank accounts for easy bank reconciliation. Great Dashboard for quick critical information.

Cons

Not many integrations, lack of detailed user guide for setting up extra modules within the software.

Don J. Don J.
Overall rating
  • Industry: Computer Software
  • Company size: 2-10 Employees
  • Used Weekly for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 9.0 /10

Great value Financial product for small business

Reviewed on 29/11/2016

I switched from on MYOB to Reckon One. I was a customer of MYOB for over 20 years. Each year they...

I switched from on MYOB to Reckon One. I was a customer of MYOB for over 20 years. Each year they continued to increase the yearly premium. Last year it was over 900.00. For a small business with a few employees, this was just outrageous. After reviewing Reckon one, I found it would do all MYOB was doing for me at 11.00 a month. They even would convert my MYOB file for nothing.
That was it. Decided to change over to Reckon One and have not looked back.
Been running it for a few months. Took a little to get used to but I've Done all the invoicing, has statements, accounting I need. Simply fantastic. Can even give my accountant a special login to do the yearly books.
I'd recommend anyone looking to change over to give it a try.

WILL SAVE YOU A PACKET

Pros

Functionality and price

Cons

Have a little bit of trouble doing bas and super payments

Showing 5 reviews of 13 Read all reviews

Reckon One FAQs

Below are some frequently asked questions for Reckon One.

Reckon One offers the following pricing plans:

  • Starting from: A$10.00/month
  • Pricing model: Subscription
  • Free Trial: Available

Get the basics for only $10 per month, then only pay for add-ons.

Reckon One has the following typical customers:

Self Employed, 2-10, 11-50, 51-200, 201-500

Reckon One supports the following languages:

English

Reckon One supports the following devices:

Android (Mobile), iPhone (Mobile), iPad (Mobile)

Reckon One integrates with the following applications:

AroFlo, Better Clinics, BetterHQ, Braintree, Crystal Payroll, Dext Prepare, GovReports, IODM Essentials, Link4, Mailchimp, PayPal, Pinch, Shopify, Staffology Payroll, Stripe, WooCommerce, Zapier, Zoho CRM

Reckon One offers the following support options:

Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, Chat

Related categories

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