Software Guide: Reckon One

Intro

Reckon One is a lightweight, low-cost accounting application designed for micro and small businesses. Its cheapest plan costs $10 per month. It has a modular design that is highly flexible. A business can buy a basic accounting and bank feeds plan with automated bank reconciliation for $20 a month, with a limit of 1,000 transactions. Adding invoices costs $27 a month, and $34 to add expense management.

Most competitors offer higher-priced and fully featured starter plans but no low-cost options. Reckon One aims to suit sole traders with minimal accounting requirements. 

Highlights

• Simple interface is easy to use for non-accountant users
• Very cost effective for micro businesses and self-employed that only need one or two modules
• Simple dashboard makes it easy to track important metrics
• Free migration from competing products

Limitations

• No inventory module
• Cost of modules can quickly add up for small businesses
• Unsuitable for growing businesses that need more features
• Very few integrations with third-party apps and services 

List of Modules

Accounting 

Payments and expenses

Track and report GST for BAS

Cash flow in real-time

Create budgets

Reporting

Invoices and bills 

Payroll

Timesheets

Employee expenses 

Acquisitions

Reckon hasn’t made any acquisitions that have obviously contributed to the development of Reckon One since its relaunch in 2016.