4 Superb Reckon Alternatives in Australia

Reckon One began its operations in 1987 in Sydney and since then has been a major force in the accounting industry. Its software is one of the best out there but it as any other lacks in some instances. In this article, we will explore the alternatives to Reckon in Australia and comment on how they’ll be suitable for your business with the help of different characteristics. We will also have a glimpse at accounting requirements in Australia.

 

About Reckon

 

Reckon is a comprehensive accounting software solution primarily tailored for micro and small business owners, as well as sole traders in Australia. With a history dating back to the previous century, it stands as the oldest accounting solution in the country and reported 1 million users in the last year.

 

Reckon offers very beautiful software with lots of reports and analysis for your business. Inventory management, payroll, etc. are also offered to make it complete. But as you’d guess, it has its weaknesses. There’s a reason Reckon alternatives in Australia exist. We will explore these weaknesses shortly but before that let us briefly understand the accounting requirements in Australia.

 

Why Do We Need Accounting Software for Businesses In Australia?

 

Accounting software can completely change the way your business operates, increasing productivity and enabling it to realize its full potential. Let’s examine what makes it so fantastic.

 

First of all, it saves money. With accounting software, you don’t need a large accounting staff. It effectively manages financial tasks, saving you money and fostering your confidence in its capabilities.

 

It serves as a reliable business partner for smaller companies. It liberates resources that can be applied to the expansion of your company.

 

The ability to examine data is one of its best features. It provides you with extensive reports about all aspects of your organization, not just plain numbers. It’s like having a financial expert managing everything from managing payroll to keeping track of inventories and overdue payments.

 

Accounting software is essential in a world where companies frequently transact with foreign nations. It aids in your meticulous record-keeping and compliance with all laws.

 

Tax administration can be challenging, but accounting software makes it simpler. It handles tax-related tasks, ensuring that everything is accurate and compliant with the most recent tax regulations.

 

Additionally, it acts as a powerful protector of your financial data. You can feel secure knowing that your financial information is protected from prying eyes and possible intrusions.

 

Therefore, accounting software is a booster for your company rather than just a tool. It simplifies finances, fosters business expansion, provides insightful information, and safeguards the details of your finances. Your acceptance of the need for accounting software will only push your business in the right direction. So definitely consider using Reckon and Reckon alternatives in Australia, as mentioned in the article.

 

Why Do We Need Reckon Alternatives In Australia?

 

What are the issues with Reckon? The downsides? What alternatives do we have? We’ll first list down the negatives for Reckon and then look at the Reckon alternatives in Australia.

 

1) User Interface and Learning Curve:

Compared to competing options for accounting software, some customers have considered the product’s user interface to be less intuitive. For users who are less familiar with accounting software, accessing specific functions and navigating the program may need some learning.

2) Limited Automation:

The automation features of the software might not be as robust as those of some other accounting software solutions. Users might find that some procedures, such as bank reconciliation or invoicing, need more human labor and time, which adds to the workload and could reduce overall productivity.

 

 

3) Scalability:

Some users have complained about the software’s scalability issues. Businesses may discover that the software’s features may not scale as smoothly or thoroughly as expected when their operations expand and their financial needs change, prompting a potential switch to a more scalable solution.

4) Customer Support:

Although the product offers customer support, there have occasionally been claims of lengthier response times or issues getting quick assistance. This factor could affect the overall experience and how any problems are resolved, depending on how much a business relies on customer care.

 

5) Limited Integrations:

Though some third-party programs can be integrated with the software, there may not be as many alternatives as with other platforms for accounting software. Reckon’s offerings could not entirely meet the needs of businesses with particular integration requirements.

6) Bugs:

Reckon has been reported to have bugs time and again. The software also lags sometimes. Probably due to inefficient cloud services. This is a grave concern as it may cause delays in important transactions leading to unsatisfied clients for a business.

 

Reckon Alternatives In Australia

Let’s look at the choices that we have got for replacing Reckon. We’ll look at their features and pricing, giving a general idea of what it will be like to use them.

 

1.ProfitBooks

 

ProfitBooks offers a hospitable atmosphere for companies to prosper. The great thing about them is that they made it so simple to use that you don’t even need to employ an accountant. You can manage accounting even if you have no prior experience with it.

 

Billing is beneficial. Even with the FREE-for-a-lifetime plan, they offer 25 invoices every month. The bills are professional but easy to comprehend.

 

They’re not keen on direct interfaces with other systems, but if you ever need to move data around, they have a workaround using Excel. Additionally, Profitbooks provides excellent inventory management that supports a well-maintained record of items. Access to the inventory could also be restricted to secure it.

 

One more thing that sets ProfitBooks apart is its simplicity. They don’t overwhelm you with super complicated reports. Instead, they keep it focused on what matters. It helps you concentrate on the essentials, which later leads to a more solid and non-negotiable analysis of crucial points, resulting in steady but significant growth.

 

They’re one of the very few accounting software providers worldwide that offer a lifetime FREE plan. It’s not some stripped-down version either; it’s quite valuable, especially for startups and small businesses. I’ve found it to be quite handy myself. It is probably the best Reckon alternative in Australia.

PRICING:

They offer two plans; the full-time free plan labeled the ‘Startup’ plan and another plan called the ‘SMB’ plan worth $15/month. This is quite cheap compared to the counterparts with little to no compromise on services offered.

2. Xero

 

Xero has very good functionalities and it is confirmed by every decent source that I researched. It has a huge set of reports and analyses. Xero mingles well with other APIs and software. Large and medium-sized businesses could look forward to Xero as their accounting software.

Xero proves to be an upgrade on Reckon as an alternative but is still very pricey. Other Reckon alternatives mentioned in the article are not very expensive and offer enough services. Xero also seems to be an accountant’s software provided its complexity. It may lead to the necessity of an accountant.

Despite this Xero is recommended as a Reckon alternative if you think your business needs a very robust and complexly functional software.

 

PRICING:

Xero currently offers four plans in Australia. The starter plan at $29/month, the standard plan at $59/month, the premium 5 plan at $76/month, and the Ultimate 10 plan at $110/month.

 

3. Rounded

 

Rounded knows how to put AI to good use in their software. They’ve made it super smart, so it not only looks good but also tailors itself to each user for a personalized experience. It’s like they’ve laid out the red carpet for easy navigation.

One cool thing about Rounded is their multicurrency support. If your business deals with folks across borders, it’s got your back. Plus, they’ve got a pretty solid mobile app.

But what sets Rounded apart is their in-app chat and communication support. It’s like having a built-in chatroom for your business transactions and reports. This not only keeps things running smoothly but also adds a layer of accountability and transparency for future reference. That’s pretty helpful.

Now, here’s the flip side. Rounded isn’t exactly a tax whiz, and they don’t offer GST services in one of their two plans. Also, if you want to keep tabs on your bank account through the software, you might be out of luck with that plan because it can’t be connected. So, it’s not perfect, but it’s got some cool features to consider it a good enough alternative to Reckon.

PRICING:

Two plans. $19.95/ month for the ‘Starter’ plan and $24.95/month for the ‘PRO’ plan. The plans differ in GST valuation, Bank account connection, and unlimited availability of templates.

 

4. MYOB

 

In the world of accounting software, MYOB is a formidable competitor, particularly when it comes to handling taxes. They’ve created a separate payroll system that adds a level of security to this crucial task, which is a clever way to handle payroll. However, keep in mind that, except for their two most expensive plans, they might charge extra if you add a lot of employees.

 

Additionally, MYOB provides helpful services like banking options and tools that make doing business internationally simple. Even if things become a little complicated, MYOB can manage multiple businesses or branches effectively.

 

In other words, MYOB is good at payroll and taxes, but be wary of extra fees. It proves to be a capable alternative to Reckon.

PRICING:

MYOB offers four plans all of which are paid. The ‘Lite’ plan at $15/month, the ‘Pro’ plan at $27.50/month, the ‘AccountRight Plus plan at $68/month, and the ‘AccountRight Premier plan is valued at $85/month.

 

How To Choose The Best Suitable Software For Your Accounting Needs?

 

Choosing the right accounting software for your company is a big decision. First things first, you’ve got to pick between desktop-based or cloud-based software. Cloud-based software is quite popular because it can sync your data, back it up automatically, and you can access it from anywhere with an internet connection. But if you’re in a place with shaky internet or need to do stuff in person super quickly, the offline option might be better.

 

Now, let’s talk security. Your data’s safety is a big deal. Make sure the software uses something called HTTPS for secure data transfer. And if they’re partnering with reliable cloud hosting companies like Amazon or Rackspace, that’s a good sign.

 

Next, figure out what you need the software to do. Do you need it for things like making invoices, tracking expenses, managing your inventory, or reconciling your bank statements? That’s important to know.

 

Think about the future, too. You want software that can grow with your business.

 

Also, make sure you can easily take your data with you if you ever decide to switch software. Watch out for any hidden fees, like extra charges for transactions or integration. And be clear on what the free trial version lets you do.

 

Don’t forget about support! It’s super important. Check if they have different ways to get help, respond quickly, have good knowledge, offer resources, and update the software.

 

Do not hesitate to change the software you are using if you find that it is not enough for your business. Look for alternatives like we did with this article accessing Reckon alternatives in Australia.

 

In the end, when you’re picking your accounting software, just remember these things and match them up with what your company needs and wants. One option to consider is ProfitBooks. It’s great for small and medium-sized businesses, with user-friendly features, room to grow, a reasonable price, awesome support, and clear expenses.

 

Conclusion

There are many options to think about, ranging from the user-friendly and cost-effective ProfitBooks to the powerful features of Xero and the AI-driven convenience of Rounded. Not to be overlooked is MYOB, a strong rival with a focus on payroll and taxes.

 

The decision you make about the greatest accounting software will have a significant impact on your capacity to expand and manage your money. Consider factors like functionality, scalability, support, and security. Remember that the choice you make today should take into account your needs in the future.

 

Therefore, whether you’re a small start-up, a developing business, or an established organization, finding the correct accounting software is like having an ally you can depend on in your financial journey. It may be the deciding factor.

 

Just keep these factors in mind and match them up with what your business needs and wants when choosing your accounting software in the end. ProfitBooks is one choice to take into account. It has fantastic features for small and medium-sized organizations, room to grow, and a flexible structure.