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Bank reconciliation that automatically imports bank transactions

Connect your bank account and watch transactions flow in, ready for you to reconcile.

Bank Reconciliation Featured Image

Bank reconciliation software with all the features you need

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Connect your small business to major banks

We have a direct connection to most major banks in Australia including Commonwealth, Westpac, PayPal, Bendigo Bank, ANZ, NAB, St George, BOQ and more. Setting up the connection is easy and only takes a few clicks! Once connected, the transactions from your bank statements flow into Reckon One,  saving you hours and giving you back time to focus on your business!

Connect your small business to major banks. BankData connects to most major banks in New Zealand (likely including yours!), and helps you streamline the entire bank reconciliation process.

Handles complex transactions like a charm

Feel like a bank reconciliation pro from the get-go. BankData makes it easy to split amounts into separate bank accounts. Plus, the bank reconciliation learns from you over time, making it perfect for small business owners managing recurring transactions and regular clients.

Handles complex transactions like a charm. Feel like a bank reconciliation pro from the get-go. BankData makes it easy to split amounts into separate accounts, and has many other tricks up its sleeve too.

Plans that fit your business needs and your pocket

We scale our pricing per feature, not on the number of users, which allows Australian small business owners to grow with confidence.

*Offer only available to new Reckon customers and applies to the first Reckon One book only. The 50% off will be applied to your subscription for the first 3 months only. Once the promotional period ends, pricing reverts to the current RRP and is subject to change. The offer expires on 29/02/24 unless withdrawn earlier.
** Reckon may move you to the appropriate plan if you exceed the maximum number of employees.
† Transactions that exceed the 1000 limit will be subject to the BankData Fair Use Policy.
†† Free data migration offer includes 1 year of historical data + YDT only.

Helping thousands of businesses with their accounting

What is bank reconciliation?

Bank account reconciliation is an important part of bookkeeping that compares the cash activity in your accounting records to the transactions on your bank statement. To save time on this process, connect your Reckon One account to your bank, and all your transactions flow in to Reckon One automatically, ready for you to reconcile.

What is bank reconciliation? Bank reconciliation is the process of comparing the cash activity in your financial records to the transactions on your bank statement to help identify any mistakes and monitor cash flow. Once BankData is connected to your bank, your latest banking and credit card transactions flow in to Reckon One automatically, ready for you to reconcile.

Frequently asked questions

How does the 30-day free trial work?

The Reckon One free trial allows you to try our 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.

How do I connect my bank?

We currently have 3 methods for connecting your bank account to Reckon One:

  • Open Banking
  • Direct bank feeds
  • Yodlee Inc.

The preferred method is Open banking. Please see our help article for step by step instructions:  How to add an open banking feed >

Direct feeds are currently available for the following Australian banks:

  • ANZ
  • Bank of Melbourne
  • Bank of Queensland 
  • Bank of SA
  • Bendigo Bank
  • CBA
  • Heritage Bank
  • NAB
  • PayPal
  • St George
  • Westpac

Learn more here.

What is open banking?

Open Banking is part of a government-led initiative called Consumer Data Right.  

It is a standardised, secure method of sharing your banking data, no matter which Australian bank you have data with. It gives instant access to your data over a secure connection. It is more secure and efficient than alternative options, such as setting up a direct bank connection (direct bank feed) or using a third party screen scraping utility.

Benefits of Open Banking include:

  • more data from more banks
  • secure access to your data
  • a single consent process covering all banks
  • immediate access to your data, updated daily
  • potential to receive historical data back to January 2017.

To facilitate Open Banking, Reckon works with SISS Data Services, Australia’s leading independent provider of secure banking and financial data services and an Accredited Consumer Data Right recipient.

How to set up an open banking feed >

What are the benefits of bank reconciliations?
  • zSave time: On average, manual reconciliations can take up to an hour. But by connecting your bank to Reckon, the process can be done in less than 10 minutes.
  • Keep track of cash flow: Bank reconciliation keeps your financial status up to date so you always have sufficient funds and don’t end up spending money you don’t have. The process matches up the records in your accounting software and what’s in your bank accounts, cash account, credit card statements etc so you get an accurate picture of your company’s cash flow and can make more informed decisions for your business.
  • Prevents errors, fraud and unnecessary charges: By implementing a regular process to look over your cash balances and financial records you can actively pick up bank errors, fraud and other mistakes that could be costly to your business. You are also alerted to bank fees, bank service fees or bank charges that may be preventable in the future.
  • Stay on top of unpaid invoices: Reconciliation helps ensure that your balance sheet accurately reflects your bank account balance and that there are no major discrepancies.
How do I switch from another software to Reckon One?

Making the switch to Reckon One is a breeze with our data migration service! Here’s how it works:

  1. Fill out our data migration form.
  2. Sit back and relax while we handle the migration process.
  3. In just 3 to 5 business days, we’ll reach out to you to review your migrated data.
  4. Once you’re happy with your migrated information, we’ll transfer ownership of your files to you.

You can find more information here.

Is my data secure?

We use bank-level security to keep your information safe. Plus, the best technology to ensure your data is safe and secure. 

Reckon One, is built with cutting-edge HTML5 technology and hosted on Australian servers powered by Amazon Web Services, a leader in cloud data storage.

See our data security page for more information.

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.

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.
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).

Is there a minimum subscription period?

Enjoy the benefits of Reckon One with the flexibility of monthly payments and if you decide it's not the right fit for your business, you can easily cancel at any time.

Try our automatic bank reconciliation today, for free!

Cancel anytime.