| Reckon Limited | |
| Type: | Public |
| Industry: | Information Technology |
| Predecessors: | --> |
| Successors: | --> |
| Founded: | 1987 |
| Founder: | Greg Wilkinson |
| Hq Location City: | North Sydney |
| Hq Location Country: | Australia |
| Areas Served: | --> |
| Key People: | Sam Allert, CEO |
| Products: | Accounting software |
| Owners: | --> |
| Num Employees: | 300 |
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 with a market cap of .[2] Reckon has over 600,000 businesses using its software across Australia and New Zealand.[3] [4]
Reckon Limited was founded by Greg Wilkinson in 1987, who 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.
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 a cloud accounting program called Reckon One.[9]
In August 2017, Reckon completed the demerger of its Document Management division into a new London-based company called GetBusy.[10] [11] In November 2017, MYOB announced it would acquire Reckon's Accountants Group for A$180 million.[12] However, in June 2018, MYOB terminated the deal due to the regulatory processes taking longer than anticipated.[13]
Since then Reckon has gone on to add many products to its business ecosystem including Reckon Cloud POS, a cloud-based point-of-sale system,[14] Reckon Loans for business financing[15] and an allied health practice management software called Better Clinics.[16] In May 2019, Reckon launched the Reckon Single Touch Payroll App to address ATO legislation for payroll reporting.[17] The app accumulated over 30,000 downloads in 4 months making it one of Reckon's most popular products to date.[18]
Reckon includes APS, an accounting practice management software that's used by 70% of the countries top accounting practices, and three of the Big Four accountancy firms.[19]
In May 2022, Reckon agreed to sell its Reckon Accountants Group to UK-based Access Group for A$100 million. The deal included Reckon's APS and Reckon Elite software.[20] The acquisition was completed in August 2022.[21]