Reckon (company)

Reckon is an Australian software company that provides desktop and cloud-based accounting software for accountants, bookkeepers, small to medium businesses, and personal users. The company has offices in Australia, New Zealand, the United Kingdom, and the United States.[1] Reckon is listed on the Australian Securities Exchange.[2] Reckon has over 600,000 businesses using its software across Australia and New Zealand.[3][4]

Reckon Limited
TypePublic
ASX: RKN
IndustryInformation Technology
Founded1987
FounderGreg Wilkinson
Headquarters
North Sydney
,
Australia
Key people
Sam Allert, CEO
ProductsAccounting software
Number of employees
300
Websitewww.reckon.com

History

Reckon Limited was founded by Greg Wilkinson in 1987 and was its Chief Executive Officer until 2006.[5] Funded initially with the $2,000 dollar credit limit on a friend’s credit card, Greg Wilkinson started republishing and distributing Quicken & QuickBooks software products in Australia under a licensing agreement with Intuit.[6] For over 25 years, Reckon managed the marketing, distribution and development of these products, making them a household name and winning the loyalty and support of hundreds of thousands of businesses.

In 2012, Intuit announced the decision to take back the QuickBooks & Quicken name, release a cloud accounting program called QuickBooks Online and start selling it in Australia. Reckon continues to sell QuickBooks desktop accounting software under its own brand, Reckon Accounts.[7] The Australian version of the Quicken personal finance products were renamed Reckon Accounts Personal in late 2012.[8]

In 2013, Reckon launched its own cloud accounting program called Reckon One, a competitor to Intuit QuickBooks.[9]

Since then Reckon has gone on to add many successful products to its business ecosystem including Reckon Cloud POS a cloud-based point-of-sale system,[10] Reckon Loans for business financing[11] and an allied health practice management solution called Better Clinics.[12] In May 2019, Reckon launched the Reckon Single Touch Payroll App to address ATO legislation for payroll reporting.[13] The free app accumulated over 30,000 downloads in just 4 months making it one of Reckon's most popular products to date.[14]

Reckon also includes APS, leading accounting practice management software that's used by 70% of the countries top accounting practices, and three of the Big Four accountancy firms.[15]

Products
  • Reckon's business division includes software for small business. Accounting software, payroll, STP reporting, business loans and clinic management software.
  • Reckon's practice management division includes software for accounting firms & company registrations.
  • Reckon legal division includes billing software for law firms, predominantly run out of the US.

References
  1. "Reckon Limited - Retail". Ibisworld.com.au. 31 December 2014. Retrieved 12 August 2015.
  2. "Share Price & Information". ASX. 5 November 2014. Archived from the original on 4 March 2016. Retrieved 12 August 2015.
  3. Shannon Williams (11 March 2015). "bizEDGE NZ - Will Reckon's cloud solution kill Xero?". Bizedge.co.nz. Retrieved 12 August 2015.
  4. "Reckon Products". Amable.com.au. Retrieved 12 August 2015.
  5. "Reckon founder Greg Wilkinson takes a tablet". Brw.com.au. Retrieved 12 August 2015.
  6. "APS Solutions". Newsletters.aps-advance.com. Retrieved 12 August 2015.
  7. "Reckon or Intuit – Who Sells QuickBooks in Australia? - The Latest on Accounting Tech For Future Focused Firms". digitalfirst.com. Retrieved 24 October 2019.
  8. James, Daniel (2 April 2013). "QuickBooks: It's now called Reckon Accounts 2013". BIT. Retrieved 12 August 2015.
  9. "Reckon dumps QuickBooks brand, updates on cloud strategy". digitalfirst.com. Retrieved 24 October 2019.
  10. "Reckon releases cloud POS". Business IT. Retrieved 19 June 2018.
  11. PYMNTS (22 July 2016). "Reckon Snubs The Banks With Prospa SME Loan Deal". PYMNTS.com. Retrieved 24 October 2019.
  12. "Press Release: Reckon Renews Focus on Independent Growth Strategy". prwire.com.au. Retrieved 24 October 2019.
  13. "Reckon releases free single touch payroll mobile app". channellife.com.au. Retrieved 24 October 2019.
  14. "Switching to Single Touch Payroll reporting has been easier than expected". SmartCompany. 23 September 2019. Retrieved 24 October 2019.
  15. "Reckon Group announces a steady profit in 2018". itbrief.com.au. Retrieved 24 October 2019.
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