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RECKON ONE SITE GOES LIVE Featured

Clive Rabie, ReckonThe website for Reckon One, yet another low-cost cloud accounting product, is open for business. The applications is marketed by Reckon, based in McMahons Point, New South Wales, Australia. There has been no statement it will be introduced in the United States. But there must be something to gain in scale by utilizing more of the data centers needed to support these systems.

And Reckon is as well positioned as other entries coming into the United States – Sage One, Exact Online, Xero. It is a publicly held company and its revenue for 2012 was $90.1 million, while Xero seems to be on about a $50-million-run rate for 2013. And last year Reckon ended its long-time status as Intuit's distributor in Australia which paves the way, not only for its only rebranded product line, but for geographical expansion. In October, it also enhanced its technology capabilities with the purchase of two companies. These were SyncDirect, which can transfer data from many accounting systems, and an enhanced version of the Xcede Professional Accounting report writer. Reckon Limited paid about $1.9 million for the pair. In a prepared statement, Reckon Group CEO Clive Raber described the impact of SyncDirect as meaning "no matter what system your client is using, you now have easy access to that data, without forcing your client to change accounting systems." Reckon One's pricing model resembles some tiers from other low-cost packages. Going from the most expensive, I would describe these as cheap, cheaper and cheapest. The core module in the Get Started plan comes in at roughly $4.70 a month. The Lite version at about $16 per month adds what the company calls Lite versions of Bank Data, Invoice, Time and Billing, and Projects, while the Medium plan has the core and Medium versions of the same modules for roughly $23.40 per month.

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