Inventory management that keeps your stock moving
Track what you buy, sell and hold with inventory management software for small business – all within Reckon One.
Everything you need to manage inventory
Keep on top of your stock with inventory management software built into your accounting software.
Create items
Purchase Orders
Negative inventory
Stock alerts
Stock value
Reporting
Set up items and track stock automatically
Create inventory items with product codes, purchase details and sales information. Reckon One automatically updates your quantity on hand as you buy and sell, so you always have an accurate view of your stock. With your inventory and accounting connected, you can spend less time manually updating stock levels and more time running your business.
Manage stock from purchase order to sale
Create purchase orders, receive stock from suppliers and invoice your customers – all within Reckon One. Keep your purchasing, inventory and sales connected through the entire process, with fewer systems and spreadsheets to manage. Keeping purchase orders, bills and inventory together gives you a clearer view of incoming stock and helps keep your inventory levels up to date.
Sell first with negative inventory
Use negative inventory to sell first and reconcile stock when the purchase is recorded – ideal for drop shipping and made-to-order businesses. Complete the sale when it happens, even if the related supplier purchase hasn’t been entered yet. This gives businesses more flexibility while helping maintain accurate inventory data as stock is purchased and sold.
Stay ahead with low-stock alerts
Quickly identify items running low with clear stock indicators. Know what needs reordering sooner, maintain the stock your customers need and reduce the risk of missing potential sales. Having better visibility of your stock levels can also help you avoid holding unnecessary excess stock and tying up too much cash flow.
Know what you have and what it’s worth
See quantities on hand, average cost and total inventory value as products move through your business. Get a clear, up-to-date picture of the stock you’re holding and what it’s worth. Having your stock value connected with your accounting information helps keep your inventory and financial data together.
Understand your inventory with detailed reports
Review your inventory quantities, value and transaction history with easy reporting. Check your overall inventory position, view the status of individual products, and drill down into purchases, sales and stock adjustments to see how inventory levels and value have changed over time. Detailed reporting gives you greater visibility of your inventory operations and helps you make more informed decisions about purchasing and stock management.
RECKON ONE
Plans that fit your business needs and your pocket
30-Day free trial
Cancel anytime
Unlimited users
† Free data migration offer includes 1 year of historical data + YTD only. Paid subscriptions only.
Helping thousands of businesses with their accounting
Keep your stock and accounts together online
Managing stock separately from your accounting can mean more spreadsheets, duplicate data entry and more systems to keep up to date.
Reckon One combines accounting and inventory management capabilities in one cloud-based system. Your inventory items connect with invoices, bills, purchase orders, payments, receipts and credits, helping your stock and financial records stay together.
For many small businesses, this means fewer disconnected tools and less manual administration. You can track what you’re buying and selling, monitor your stock levels and understand the value of the inventory you hold alongside the rest of your accounts. It can also give you better visibility of your cash flow, with your sales, purchases and stock information managed together
Frequently asked questions
What is inventory management software?
Inventory management software helps businesses track the products they purchase, sell and hold. It provides visibility of stock quantities, movement and value, helping businesses make more informed purchasing and sales decisions.
An inventory management system can also help reduce manual stock tracking by keeping inventory data in one place and giving businesses a clearer view of current stock levels.
What types of businesses can use Reckon One inventory management?
Reckon One inventory management is suitable for small to large businesses that buy and sell physical products, including retailers, wholesalers, trades, drop-shipping businesses and made-to-order businesses.
For small businesses, inventory software can make it easier to manage stock without relying on separate spreadsheets or manual processes.
Which Reckon One plans include inventory management?
Inventory management is available with Reckon One Accounting Premium and Ultimate. It isn’t included with Accounting Plus or Payroll-only plans.
Does Reckon One support negative inventory?
Yes. Negative inventory lets you record a sale before the associated supplier purchase or stock receipt has been entered. This is useful for drop shipping, made-to-order products and other businesses that sell before purchasing or receiving stock.
How many inventory items can I create?
Accounting Premium Plan allows up to 10 active inventory items. Reckon One Ultimate Plan allows unlimited active inventory items.
How does Reckon One calculate inventory value?
Reckon One uses weighted average costing. The average cost is updated as inventory is purchased, helping you maintain an up-to-date view of the value of the stock held by your business.
Does Inventory Management work with my accounting method?
Yes. Inventory Management is designed to work best with accrual accounting, but it can also be used by businesses using cash-basis accounting. You’ll still be able to do real-time tracking of stock levels, purchases, sales and inventory value, regardless of your accounting method.
Can I use Excel or a spreadsheet for inventory management?
Yes. A spreadsheet can be a practical way to manage inventory when your business has a small number of items and relatively simple stock movements.
As your business grows, manually updating stock levels, purchases and sales can take more time and increase the risk of errors. Inventory management software can automate more of this process by updating your inventory as transactions are recorded.
What is the best inventory management software for small businesses in Australia?
The best inventory management software in Australia depends on your specific business needs.
Consider the number of items you need to track, whether you need purchase orders, low-stock alerts or supplier management, the reporting available, how user friendly the inventory system is and whether your inventory connects with your accounting.
For small businesses that want their accounting and stock information together, Reckon One combines accounting and inventory management in one online inventory system.
Can I grant access to other people?
Yes, you can share access to Reckon One with as many users as you need. And the best part is, you can do it regardless of which plan you’re on. Simply invite users and assign the appropriate permissions, so they can help you manage your business.
Giving you the ultimate inventory control.
Can I change my software plan later on?
Definitely! Reckon One offers you the flexibility to change your plan to fit the unique needs of your business. Whether it’s downgrading or upgrading, you can easily make these changes right from your Reckon account.
How does the 30-day free trial work?
The Reckon One free trial allows you to try our basic accounting software for a period of 30 days to ensure it meets the needs of your business. After this period, your subscription will automatically convert to a paid one to avoid any interruptions to your data. However, if you find that Reckon One small business accounting software is not suitable for your needs, you can cancel your subscription before the billing renewal date and your credit card won't be charged.
If life got in the way and you weren’t able to use your trial, no worries! Just give our friendly support team a shout and we’ll see if we can get you up and running again.
Is there a minimum subscription period?
No lock-ins. Enjoy flexible, month-to-month access to our basic accounting software for small business.
Do you provide customer support?
We offer support through email, chat, and phone with our local team and resources such as webinars, a small business resource hub, and an online community to help you succeed from the moment you start using Reckon One.
Expert training is also available through the Reckon Training Academy or our trusted partners (accountants and bookkeepers).
Add more to your accounting software
Our add on marketplace is full of third-party app integrations that extend the power of your accounting software.
Ready to simplify inventory management?
Track stock, manage purchases and keep your inventory connected to your accounting with Reckon One.
