Reckon Accounts Features

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Reckon Accounts Product Features

This Page explains the features of the Reckon Accounts Range to help you determine which Reckon Accounts version best suits your business.

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Reckon Accounts Feature List

In line with Reckon's aim to rebadge all of its products under the Reckon logo, Reckon Accounts will soon be released as Reckon Accounts.

QuickBooks Accounting, Plus, Pro, Contractor & Premier 


Reckon Accounts Features
Accounting/Plus/Pro/Contractor/Premier

Easy to set-up, learn and use

Reckon Accounts uses plain English and has an Easy Setup Wizard to get your business up and running within minutes.

Reckon Accounts’ user-friendly home page ensures all frequently used activities and features are available within a few clicks of your mouse. Simply fill out familiar forms on your screen – such as cheques or invoices – and Reckon Accounts does the accounting for you.

Monitor business performance

Quickly view your business performance using the company snapshot tool. Customisable fields and graphs allow you to design a ‘snapshot’ that presents the most significant information that impacts your business decisions – with the ability to drill down into transaction, customer or supplier details.  Click here to view a short demonstration of this feature.

More than 100 reports and graphs can be generated within the Reports Centre to help you keep a close eye on your business. With just one click you can also drill down into reports to find detailed financial information. You can even convert the report into a PDF file for email so the recipient views the report just as you see it in Reckon Accounts.

Manage your business more effectively

Reckon Accounts is much more efficient than spreadsheets, word-processing or paper ledgers. Quickly and easily manage bookkeeping tasks like printing cheques, paying bills, generating reports, invoicing customers and tracking expenses. Spend less time on bookkeeping so you can concentrate on your business.

Get paid faster

With just one click, you can receive payments from your customers by credit card and record the transactions in Reckon Accounts*. Reckon Tools Credit Card Payments allows you to process credit card payments directly through Reckon Accounts, in a secure environment. Simply type in a customer’s card details when you enter their payment and process it as you save the transaction! *You will require an Internet Merchant account - contact your financial institution. Additional charges apply.

Record, track and reconcile your inventory balance

Reckon Accounts allows easy entry and tracking of all your inventory movements and costs.

Industry specific Chart of Accounts

Reckon Accounts also includes 21 industry specific Chart of Accounts, so only accounts relevant to your business are included.

Real-time BAS lodgement

Easily prepare and lodge your BAS with Reckon GovConnect, SBRTMenabled software. It helps to pre-fill your e-form with data direct from the ATO and provide you with realtime feedback and lodgement confirmation, so you will instantly know that BAS has been successfully submitted and the refund entitlement or money owed. Find out more about Reckon GovConnect at www.quicken.com.au/sbr.

Reckon Accounts home page

All key tasks and functions are available within a few clicks of the home page with the Customer, Supplier, Employee and Report Centres. You can also customise how information is displayed in each of these centres. Plus control access to your confidential account balances with the Reckon Accounts’ Hide/Show preference. Simply switch your Account Balance previews to “off” to help ensure only you have access to your business’ confidential account balances.

Customisable Company Snapshot

Quickly view your business performance using the company snapshot tool. Customisable fields and graphs allow you to design a ‘snapshot’ that presents the most significant information that impacts your business decisions – with the ability to drill down into transaction, customer or supplier details. Click here to view a short demonstration of this feature.

Increased efficiency with advanced tools

Save your business undue costs by utilising Reckon Accounts email functionality. Invoices, statements, estimates, purchase orders, sales orders, sales receipts, adjustment notes and reports can all arrive on your suppliers’ or customers’ desktop within minutes. There is no need to separately track your contact lists - you can easily synchronise your contact information with Microsoft® Outlook.

Batch printing and emailing of forms

Batch printing or emailing your business forms can increase your business efficiency – you can set a Preferred Send Method (email or print) for all forms you send to specific customers, suppliers and employees.

Reports to interpret and track your business

Customise and re-size displays and the appearance of your desktop. Reckon Accounts lets users customise and re-size displays, reports and workflows, including the company desktop with colours, content, toolbars and icons to suit individual preferences.

An ‘always on’ Audit Trail

The ‘always on’ Audit Trail makes it easier for your accountant to spot possible trouble spots or mis-postings in your accounts.

Work more efficiently with your accountant or bookkeeper

The Accountant’s copy of your company data file allows you to work more collaboratively with your accountant, with a dividing date that clearly delineates which periods are for your accountant to work in, and which are for you. Reckon Accounts also allows you to perform a bank reconciliation – even if your Accountant is working on your file.

Portable Company File

A Portable Company File is a compact version of your company file. Small enough to be sent by email or saved to a portable drive, it can give you the flexibility to work on your file in different locations.

Reckon Tools

This powerful portfolio of integrated financial solutions expands the capabilities of your accounting software with online data-backup, credit card payment systems, streamlined cash flow and superannuation compliance solutions. More information on Reckon Tools

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Additional Features
Plus/Pro/Contractor/Premier Only

Track Cost Centre Income & Expenses

Reckon Accounts Class tracking allows you to track income and expenses for each cost centre in your business.

Comprehensive payroll management

All payroll information is centralised and available at your fingertips in the Payroll Centre. From here you can perform all payroll tasks, drill down to previous payroll transactions, enter time for all employees in a single window, create and schedule payments, email pay slips to your employees, store employee existing and past superfund details and even split their pays into multiple bank accounts. Reckon Accounts helps you comply with the Federal Government’s Paid Parental Leave Scheme.  Click here to view a short demonstration of this feature.
The inbuilt security safeguards and information messages allow users to edit or void past payroll payments without the need to recalculate entire pay cheques while the Detailed and Streamlined Payroll Summary Reports helps make end of period reporting and analysis effortless.
Reckon Accounts integrated payroll will save you time and money by avoiding duplicate data entry and will help you avoid hassles associated with incorrect payroll withholding.

Comprehensive employee record management

Record detailed employee information such as leave, wages, promotions and contacts using the Employee Organiser Wizard, as well as produce sophisticated summaries of your employees’ details and history. By storing your important employee information in one easy-to-access location you can better manage your employees and improve business efficiency.

Superannuation compliance

Reckon Accounts integrates seamlessly with Reckon Tools SuperLink by incorporating a Super Fund Identification Field that links to a comprehensive list of Australia’s superannuation funds; providing you with an easy way to managing your Super Choice compliance and superannuation payments. *Reckon Tools SuperLink is an additional product that can be purchased separately. click here for more information.

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Additional Features
Pro/Contractor/Premier Only

Multicurrency

With Reckon Accounts Premier you can record, track and account for foreign transactions regardless of the currency used. Tracking these foreign-currency transactions is as easy as selecting the foreign customer or supplier from your list; Reckon Accounts Premier takes care of everything else.
With multicurrency, you can also set up a fixed foreign price for items, or enter prices in your home currency and then have Reckon Accounts Premier calculate the foreign price based on the current exchange rate. The home currency refers to the currency that is used in the country in which your business is located.

Automatically track inventory items in different units of measure

You may buy the same item in one unit of measure, stock it in another, and sell it in yet another. Reckon Accounts can automate the conversion from one unit of measure to another as the item moves through your business, helping you avoid costly mistakes. That means you can buy and sell products in precisely the way your suppliers and customers prefer.

Monitor performance and analyse key projects

Job cost tracking is an extremely important part of a business. Job costing means tracking the expenses for a job and then comparing those expenses to the job’s revenue. This tells you which jobs are making money and which are not.
Job costing can also help you estimate more accurately. Estimating may be the most important - and most difficult - part of running a business. But unless you compare your estimated costs to your actual costs after the work is complete, you have no way to know if you are estimating too high or low, and no way of improving your ability to estimate in the future. The Reckon Accounts job cost reports make it easy for you to compare your estimated costs to actual costs.

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Additional Features
Contractor/Premier Only

Designed specifically for your industry

Contractors tend to have a unique way of doing business and Reckon Accounts Contractor is designed specifically with contractors in mind. With specialised tools, features and reports unique to your industry, Reckon Accounts Contractor can help you spend more time working on site rather than working on the books.

Easy navigation

The Contractor menu lists the most commonly used tasks that you need to do in your business day. It’s a shortcut to those activities, such as creating estimates or invoices that you do most often.

Conduct job costing

Job costs such as labour, materials, subcontractors and equipment rental, are all the costs of providing your service for a specific project. Once you know how much a job costs you, you can compare it to the revenue the job generated. That lets you see whether the job is profitable or not. Plus, the Job Costing Centre lets you quickly view your 3 most (and least) profitable jobs.

Track change orders

Everyone knows that when you send an estimate to bid on a job, the customer will want to make changes. Now you can easily track those changes directly on your estimate with a change order.

Use holdbacks when paying subcontractors

You can withhold a portion of a payment to a subcontractor until you have determined whether the quality of the work performed by the subcontractor is to your satisfaction. Reckon Accounts will even remind you when the holdback payment is due.

Use different labour rates

The hassle free way to bill out different labour rates for the same type of job. This ensures that your best customers get the best rates and that you can vary rates for different individuals doing similar jobs (for example, an apprentice versus a journeyman).

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Additional Features
Premier Only

Share data with up to 5 simultaneous users

Reckon Accounts Premier increases efficiency by allowing up to 5 users to work on a company file at the same time. Smart security features can restrict access to confidential financial information, to help you control access to your data.

Designed specifically for your industry

Install Reckon Accounts Premier and select from industry-specific editions that offer specialised tools, features and reports unique to your industry. Whether you’re an accountant, contractor, professional services firm, manufacturer, wholesaler, retailer or non-profit organisation there is a specific edition tailored to your business needs. Reckon Accounts also includes 21 industry specific Chart of Accounts, so only accounts relevant to your business are included.

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New Features for Reckon Accounts 2012/13

Customisable Customer Snapshot 

Offers a consolidated view of your customers purchasing history, average payment period and any outstanding money owed, all on one screen helping you make better business decisions.

Credit Alerts 

Gain control of your accounts payable and avoid overpaying by using new popup alerts that remind you of credits owed to you by a supplier.

GST Calculation 

Now either gross or net amounts can be entered into journal entries, saving you, your accountant or bookkeeper time and ensuring greater accuracy of your accounts.

Reckon GovConnect enhancements 

With the new release of Reckon GovConnect, the application now provides enhanced search for the AUSkey keystore file, a new default search period to help you find your obligations for the BAS, and Reckon Accounts simplified BAS figures can now be more easily imported or refreshed when changes are made.

Find out more about Reckon GovConnectwww.reckon.com.au/govconnect

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Which version is suitable for you?

Compare this version with other versions

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Prices

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