Which Reckon Accounts?

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Which Reckon Accounts (QuickBooks) Version

This Page compares the features of the Reckon Accounts Business (QuickBooks) Range to help you determine which version best suits your business.

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Which Reckon Accounts (QuickBooks) version should I choose.

This page is to help you choose the version of Reckon Accounts (QuickBooks) that is right for your business.

Reckon Accounts (QuickBooks) Business Range

Typical Users of Each Version

Reckon Accounts Easy Start

Designed for Smaller Businesses not running inventory. I tend not to recommend it as it looks and feels different from Standard Reckon Accounts and has many functional limitations. Buy Reckon Accounts Accounting if you can afford it.

Reckon Accounts Accounting

Has most of the bells and whistles of Reckon Accounts at a good price. Will suit most businesses if you don't need payroll, job costing or multiuser access.

Reckon Accounts Plus

Again, has most of the bells and whistles of Reckon Accounts at a good price and included a great payroll package. Will suit most businesses running payroll but not needing job costing or multiuser access.

The Annual Subscription is recommended for Payroll.

Reckon Accounts Pro

The price differential betweeen this and Contractor has made this version almost redundant. The larger feature set is well worth the extra $33

Reckon Accounts Contractor

Great for anyone wanting to track time and materials against jobs, especially consultants and building/landscaping contractors.

If you're looking at a single user annual subscription option, look at Reckon Accounts Enterprise 1 user or Reckon Accounts Hosted.

Reckon Accounts Premier

Reckon Accounts with all the bells and whistles. Multiser acces for up to 3 (Full Version) or 5 (Upgrade/Annual Subscription) simultaneous users.

The Annual Subscription is recommended for Payroll.

Reckon Accounts Enterprise

This is suited to Companies with a very large inventory, more that 5 users, or companies needing to do group consolidations.

Reckon Accounts Hosted

This will suit people you need to access their data from multiple location, or where staff are at more that one site. It will also suit people wanting to do0 some work from home.


Features that Determine Which Version is Required

There are some factors that will immediately determine which level of Reckon Accounts you need:

Multi-Location

You need to access the file from two or more locations

  • Reckon Accounts Hosted
  • Enterprise and Premier can also run under terminal services if you are operating an appropriate Windows Server

Multi-User

Two or more people can access the file at the same time

  • Premier (1-5 Users)
  • Enterprise (1-30 Users)

Payroll

You want to manage your payroll using Reckon Accounts

  • All except Accounting & EasyStart

Inventory

You want to continuously track Stock on Hand. Your inventory is no more than 1-2 thousand items in a single location. You don't need to track serial numbers.

  • All except EasyStart
Note that Premier can hold up to 13,000 items, and Enterprise has no limit, but both lack serious inventory management functionality.

Large Inventory

You have a very large inventory and need sophisticated inventory management needs. Your inventory is based in several locations and you need to track how much is in each location. You need to track serial numbers.

  • Contractor, Premier or Enterprise WITH FishBowl Inventory (an add-on for Reckon Accounts)

Estimates and Quotes

You need to prepare estimates and quotes and manage outstanding estimates.

  • Contractor, Premier or Enterprise

Job Based Invoicing

You may have a customer who needs you to separately invoice and prepare statements for each job, and you want to manage this process better.

  • Pro, Contractor, Premier or Enterprise

Tracking Time & Materials against Jobs

You need to track how much time you spend on a job. You need to track materials purchased against jobs. You need to track job profitability.

  • Pro, Contractor, Premier or Enterprise

Price Levels

Reckon Accounts can charge different items out at different prices for different groups of prices. (eg a wholesaler may have a standard price, a trade price, and a high volume customer price.

  • Contractor, Premier or Enterprise
  • Pro can apply a % discount across all items but very few businesses work this way
  • If you have a large item list and many price structures, Zed-Axis Transaction importer is a worthwhile add-on for Reckon Accounts.
    • Fishbowl Inventory uses formula based price levels and offers the best solution for managing price levels

Billing Rates

Reckon Accounts can charge out different items at a different rate for different groups of employees. (eg an electrician may charge out fitting powerpoints at a lesser rate if an apprentice is doing the work

  • Contractor, Premier or Enterprise

Bill of Materials/Manufacturing

You want to make a new product line from inventory and non-inventory parts

  • Pro, Contractor, Premier or Enterprise
  • FishBowl Inventory with Manufacturing has a more sophisticated model that can handle multiple outputs from one process, wastage, batch tracking etc.

Role-based Security

You need to implement role-based security where you can define who can do what

  • All versions have broad user-based security features
  • Enterprise has a more customisable security feature allowing allocation of security based on roles.

Multi-Company Consolidations.

You need to combine several companies for Group reporting

  • Enterprise

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Reckon Accounts vs MYOB

I am going to boldly go where no one has gone before and give you 5 reasons why Reckon Accounts is better than MYOB

1. Easier to get data into Reckon Accounts

  • It's easier to learn because the interface is more intuitive for non-accountants
  • The way that Reckon Accounts presents lists (customers/suppliers/chart of accounts) makes data entry significantly faster
  • Reckon Accounts speaks english - Bank Fees are "Bank Charges", not 6-1200
  • The auto-recall transaction feature makes data entry faster and more consistent

2. Easier to get information out of Reckon Accounts

  • The reporting engine in Reckon Accounts is vastly superior and easier to use than MYOB
  • On many lists you can get a quickreport from the right-click menu. You can view two reports at once
  • You can apply more filters to get the information you need
  • You can change the report view from within the report. Eg Profit & Loss showing Financial Year can be shown by Quarter or by Month with a simple dropdown.
  • You can report over any period, or the entire history of your company. In my file, I can show a Profit & Loss by year from 1996/97 (when I started) until current - impossible in MYOB.
  • When you export a report to Excel, Sub-totals and totals are fully functioning formulas

3. Easier to customise to suit your needs

  • Reckon Accounts has a fully customisable icon bar to store your favourite short-cuts and reports
  • Customising forms is significantly easier. Customising a MYOB form is a nightmare!
  • List elements you no longer use can be hidden from lists
  • Reckon Accounts has the ability to have multiple Accounts Receivable or Accounts Payable accounts
  • Reckon Accounts has far superior Job and Class tracking features

4. Multiuser Performance

  • Reckon Accounts is built on an SQL database, and has superior network performance
  • Large MYOB files have poor performance for multiuser access over networks due to limitations in the database engine
  • The new MYOB is built on SQL, but even MYOB consultants shudder when you discuss it. It will be ready...one day

5. Value for Money

  • MYOB is more expensive than the comparible Reckon Accounts product and has less features.

Am I biased? Probably, but it is a bias gained through working extensively with both products over a long period of time.

Reckon Accounts people like Reckon Accounts, and MYOB people like MYOB, but amongst consultants who work with both products, Reckon Accounts is a clear preference.

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Reckon Accounts Version Comparison PDF

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