Reckon is listed on the Australian Stock Exchange as RKN and has operated in the country since 1987. The company creates accounting software for accountants, bookkeepers, small to medium businesses, as well as individuals. Reckon was Intuits distributor in Australia when software was sold in boxes and distributed to shops but around 2012 there were massive changes in accounting software and Intuit started promoting it’s own QuickBooks Online software directly to consumers as a cloud accounting program – no need for local distribution.
Reckon has offices in Australia, New Zealand, the United Kingdom, and the United States and over 600,000 businesses using its software across Australia and New Zealand.
Reckon One is the companies low cost monthly subscription based software which now competes directly with MYOB Essentials, Xero and QuickBooks Online as well as the plethora of free cloud accounting programs available. The strength of this organisation is it’s connection with Accounting businesses via their Practice Accounting software – that helps accounts bridge the gap between their small business clients and the ATO.
Reckon One Training Course (in Development)
As a late starter to the cloud accounting market this company is not able to claim a position as a leading accounting software provider to small business. What they can do is cherry pick the features that the leaders are working on and promote them as new or soon to be released features, including:
- Projects Module for Project Management
- Time and Expense Module
- Payroll Module
Cloud accounting software is now dependent on third party integrations to stand out and become attractive to potential users and the above mentioned features are desired by many service based businesses and trades, particularly if they have staff.
Xero appears to be abandoning any feature development in the inventory tracking and management component of their marketing leading software and decisions like this help smaller companies like Reckon attract niche markets by fulfilling their needs. QuickBooks Online outsource the Payroll Management component of their software to a local Australian company and although it works well issues arise that can be solved by having payroll fully integrated into the core accounting software.
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