Best Of
An exciting announcement from Reckon
We are super excited announce the $100M sale of our Accountants Group division to The Access Group.
Importantly, Reckon will retain Business and Legal Practice Management divisions, which deliver circa 70% of group revenue and EBITDA which our Reckon One, Accounts Hosted and Desktop solutions are a part of.
An exciting future
It brings some exciting opportunities for our business and yours. The move will see Reckon having renewed focus on its Business division, accelerating the company’s long-term strategy to offer small businesses with a complete suite of cloud solutions to effectively grow and succeed.
Reckon has a bold future vision, with a focus on servicing Small Businesses across Australia and New Zealand and their supporting advisor network. We thank you for your loyalty, we’re confident great success in our continued partnership.
You can find out more about today’s announcement here https://www.reckon.com/au/media/the-access-group-acquires-reckon-accountants-group/
Luke
The Access Group acquires the Reckon Accountants Group - FAQs
What happens now?
Completion of the sale is conditional on and subject to regulatory approval from the Australian Competition and Consumer Commission (ACCC) and the Foreign Investment Review Board (FIRB). In the meantime, the team will continue to work on delivering all current APS roadmap and engagement plans and importantly maintain an effective partnership with our clients.
How will this benefit APS clients?
This transaction is good news for APS clients and our team. Once the acquisition is approved, the talented people that currently build, implement and support Reckon APS (as well as Reckon Elite) will transition over to The Access Group. Throughout the transition process and beyond, you will receive the same great service from the same great team. Additionally, the delivery of our current APS Product Roadmap will be expedited, as well as adding exciting new products to the mix.
How will this benefit Reckon Elite clients?
This transaction is good news for Reckon Elite clients and our team. Once the acquisition is approved, the talented people that currently build, implement and support Reckon Elite (as well as APS) will transition over to The Access Group.
Throughout the transition process and beyond, you will receive the same great service from the same great team. Additionally, Reckon Elite software will continue to be maintained and supported, as it always has.
What does this mean for the APS products our firms uses?
All APS products remain fully supported, developed and importantly available for your firm to use as per your current needs. This is not changing.
What does this mean for the APS & Elite People will deal with and help us manage our relationship
All Accountants Group staff continue to be fully employed and available in their current capacity to your firm. All BDMs, CRMs, consultants, support and management remain unchanged.
What does this mean for the APS Support our firm relies on each day?
All your APS and Elite contacts and support process remains unchanged. It is business as usual. APS and Elite product releases continue as planned. No phone number changes, no call logging changes, no client hub changes, no Support SLA changes.
What happens to the Product Roadmap?
Development of the APS product range will continue. We are at an exciting time in the delivery of APS cloud products, and we will continue to build and deliver the APS+ Solutions, with APS Ledger+ the next product release. Development of the Elite product range will continue. The team will continue to work on delivering and supporting Reckon Elite products and importantly maintain an effective partnership with our clients.
What happens on completion of the transaction?
On completion of the transaction, APS will become an Access Group product, and the APS team will become Access Group employees. All agreements, including your APS Software license agreement, will novate across from Reckon to Access Group.
Does the ACCC approve this acquisition?
The acquisition is subject to ACCC approval as mentioned in the media release and direct communications, as well as the Foreign Investment Board.
Luke
IMPORTANT INFO FOR RECKON ACCOUNTS HOSTED USERS REGARDING STP PHASE 2
STP PHASE 2 - What you need to know
With STP Phase 2 fast approaching, we’re here to provide an update on the changes and how Reckon is managing the new requirements.
We’ve been working closely with the ATO and have secured a 12 month deferral for all our customers and partners to start STP Phase 2 reporting from 1 January 2023. This means you are not required to comply with STP Phase 2 this coming January.
As a Reckon customer, you will automatically be covered by our deferral. You don’t need to apply for anything as a business owner.
If you are contacted by the ATO about your transition to STP Phase 2, simply provide them with our Deferral Reference Number: 85 627 150 which applies to all our Reckon payroll products including Reckon One, Reckon Payroll App, Accounts Hosted, Reckon Accounts and Payroll Premier.
While the deferral gives you more time, it’s still important to be across these new ATO requirements, so we've put together an article linked below with more information and FAQs around STP Phase 2 reporting.
Rav
Payroll App Update v2.18.9 - Pay Schedules
Reckon Payroll App Update v2.18.9
The Reckon Payroll App has received a new update to version v2.18.9 which is now available to download from your app store.
PAY SCHEDULES
The ability to create pay schedules has been introduced to the Reckon Payroll App!
The pay schedule functionality will allow you to create schedules for pay runs that occur at set frequencies eg. fortnightly, monthly etc and attach employees to them. Its a great way to streamline the pay run process and will automatically keep updating your pay periods and pay dates as you progress.
The Pay schedule functionality is exclusive to the Premium plan in the Payroll App and will allow you access and create pay schedules in both the Payroll App mobile app and web access. If you are currently on the free basic plan and would like to upgrade to Premium, you can do so by tapping the 'Upgrade' button in your app and follow the prompts to subscribe via your app store.
Check out our help guides and how-to video linked below for more info on the Pay Schedule feature in the Reckon Payroll App.
Rav
Re: Payroll App - Free Basic plan AVAILABLE NOW!
Thanks Rav, I for one am really appreciative that Reckon is offering this free STP to those of us that don’t require a full payroll service. Hopefully we can all sort out a few workarounds to give us the results we need.
No doubt there’ll be even more hoops the ATO will have us all jumping through down the track…..
deannea
Reckon Accounts Hosted UPDATE: Email Report
Hi everyone
We've just released the highly requested 'Email Report' feature to Reckon Accounts Hosted!
The Email Report is a report that shows you all the emails you have sent out of Reckon Accounts Hosted and whether they were able to be delivered.
The Email Report can be accessed via the View Email Report option on the Dashboard in Reckon Accounts Hosted.
There is important information on the Email Report feature in particular regarding the various 'result types' that appear in the report in our Help Guide below -
Rav
Re: Entering wages without hours and hourly rate
I agree, the new app is so frustrating as it is forcing us to use the "free Premium payroll" product which requires all this unnecessary information. I have only one employee and like you pay them an agreed gross amount monthly. I had to create a dummy hourly rate and dummy hours to make the pay run work.
Did you notice that the employees migrated across now come up as "incomplete" and you have to add unnecessary information in multiple categories including things like annual leave loading (and app will not accept 0%!) before you employee is "complete" and a pay run can be created.
Message Rav the administrator for the community forum and let him know the problem so many of us have encountered with the new app trying to do a simple pay run. The former app was bliss! Tim
TJS
Payroll App Update v2.12.16 - Improved employee profile info validation
Reckon Payroll App Update v2.12.16
The Reckon Payroll App has received an update to v2.12.16 which is available to download from your app store.
Employee information validation improvements
We've made some much needed improvements to the way employee information is validated when you attempt to create a new employee or complete the profile of an employee migrated from the old STP app.
If you attempt to save an employee profile without full information being completed in each of the tabs, the app will now take you back to the respective tab that requires information. It will also display a message at the top detailing exactly which information is missing that requires your attention.
If you are missing information in more than one tab, the app will take you back to the first tab with missing information. You will also see a red dot symbol on each tab that contains incomplete information.
EXAMPLE
Check out the screen recording below for an example on how the new process works in the v2.12.16 update. The example shows an incomplete employee profile attempting to be saved but is missing information in two tabs. Upon attempting to save, the Payroll App directs you back to the first tab that requires missing info to be completed. A subsequent attempt at saving the still-incomplete profile then immediately switches to the next tab that requires information. Once entered, the save then completes successfully.
Rav
Having trouble migrating from the STP app to the Payroll App? Common reasons why it can fail.
Common migration issues/blockers
Are you having trouble migrating from the STP app to the Payroll App?
We've put together a guide on the most common reasons that can cause your migration to the Payroll App to be blocked and how to solve them.
If you're encountering an issue with your migration that isn't covered in the help guide above, please create a new discussion on the Community here and give us as much information as possible on what's happening, we're more than happy to assist 😊.
Rav
Payroll App update v2.12.13 - Leave Loading fix, Company name & legal name edit
Reckon Payroll App Update v2.12.13
The Reckon Payroll App has received an update to v2.12.13 which is available to download from your app store.
Leave Loading field fixed
The previous v2.12.9 update introduced a bug to the leave loading field in an employee profile where the previous % value would be retained even if the value was removed and saved. This has now been fixed in this new v2.12.3 update.
In-app ability to edit Company Name
You will now be able to edit the company name and legal name in-app for ABN entity. This is particularly useful if you have been contacted by the ATO to do so if there are disparities with how your business name has been registered.
Rav