Reckon Accounts Hosted Annual Subscription + Closing Down Business

rose ivory
rose ivory Member Posts: 5 Reckoner Reckoner
in Accounts Hosted

We are looking at ceasing to trade.

BUT ATO requires us to retain access to our financial records (usually 5 years). And our financial records are all on Reckon Accounts Hosted.

How have business owners/accountants handled this in the past?

How can this be best handled?

Does Reckon Accounts Hosted offer an 'archive' service, where you can stop your annual subscription; but for a small fee they will retain your 'data file' (in a suitable state, that ensures successful reactivation down the line ) if ever needed?

We really don't want the expense of paying annual subscription for a further 5 years, when there is no real need (other than compliance).

Is there a work around?

Any other ideas?

Please help! Thanks.

Best Answers

  • Lucas
    Lucas Reckon Staff Posts: 566 Reckon Staff Reckon Staff
    Answer βœ“

    Hi @rose ivory,

    You can download the data file from your Reckon Accounts Hosted to a USB or local device that you have access to and backup copies.

    If you do ever require access to this information for the ATO, I believe that we can provide you with a read only copy of our desktop version of Reckon Accounts which you can open the software in.

    Let me know if this helps and if you require any further assistance.

    Lucas.png
  • Datarec
    Datarec Reckon Staff Posts: 1,445 Reckon Staff Reckon Staff
    Answer βœ“

    Consider also the following:

    1. Make a backup of your data file (QBB) and download it from the Hosted platform to your local computer (you can also download the company QBW file)
    2. Ensure that you have recorded the Admin user password
    3. Generate reports like the Balance Sheet, Trial Balance, etc for periods that cover each of the last couple of financial years and save those reports as PDF documents or Excel compatible CSV. Having these pre-generated may be a faster option than having to install software.

    Note that each year the software gets updated, meaning that your data file may require going through an upgrade process in order for it to be openable in whatever current version of the software is available at that time.

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Answers

  • Zappy
    Zappy Accredited Partner Posts: 5,257 Accredited Partner Accredited Partner

    You can download a copy of Reckon Enterprise and use the IKC from your member area

    Kevin

  • rose ivory
    rose ivory Member Posts: 5 Reckoner Reckoner

    Hi Lucas and Datarec (from Reckon)

    Thank you both for your replies!

    Particularly useful/reassuring to know that Reckon can provide a read only desktop version of Reckon Accounts Hosted, to regain access to our backed-up file, if we need to down the line.

    Shouldn't need it, but always safer to have a contingency plan in place… 😊

    In the meantime I will still keep my Reckon Accounts Hosted up and going. Many thanks.

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