There’s a certain electricity in the air here at Reckon.
After years of hard work, our Payroll feature for Reckon One was officially launched this morning, and it is now available for anyone to try for free or buy. It offers businesses an easy to use, affordable way to manage their employees, starting at an unheard price of $3 per month.
Payroll was the most requested functionality in Reckon One, and its release marks a huge milestone in our company’s history. As of today Reckon One is not only fit for sole-traders, but now is ideally suited for small to much larger businesses as well.
Our CEO, Clive Rabie, summed up the moment well:
“We now have a very strong offering with all the advantages of the competition, and in many respects, better due to our custom build with unlimited employee management, fair pricing for a premium solution, and a next generation user experience. We’re excited to see what it can do to improve operations for Australian business owners. Our Reckon One solution has had a big boost today. It’s game on.”
The marketplace is now significantly bigger for Reckon One.
The June 2015 Counts of Australian Businesses ABS report1 shows 37% of businesses in Australia have between 1 to 19 employees: a whopping 780,000 businesses! Reckon One’s introduction of Payroll means that it is suddenly a viable option for most of them.
Reckon One has been going from strength to strength for a while. But today it truly entered another league. We’re so excited as a company, and so thankful to all our loyal Partners and customers who made today possible.
RECKON ONE PAYROLL – THE SCOOP
You asked, we listened.
We consulted with industry experts, our Partners, and clients with the goal of developing a Payroll module engineered to be a perfect fit for any business. Payroll is often one of the most complex and expensive elements of any online accounting software system. So the challenge we set ourselves from day one was to solve these two, often crippling, business pain points: price and complexity.
For this reason, and from the beginning, we made the decision to engineer Reckon One in-house. It has been a huge advantage and has allowed us to keep costs much lower for you, our customers. Unlike the acquisition based strategies of many of our competitors (Xero with Paycycle, Quickbooks with Keypay), we saw in-house development as the only way to ensure a well priced product, unhindered by the issues that often burden tacked-on solutions. We’ve tried to keep our solution seamless, fast and consistent with the rest of the application, with an almost obsessive attention to detail and to the user experience.
We understand that Payroll can be a double-edged sword for many businesses. Whilst employees are an essential (perhaps the most essential!) part of every business: managing them is often very expensive (especially for SMEs), and Payroll software notoriously is difficult to use, resulting in wasted time and money. Let’s let the numbers speak for themselves:
The Australian Payroll Association’s Benchmarking Report in 2016 showed that Payroll-related costs were one of the biggest expenses for SMEs. For companies with less than 50 employees, the average cost per payslip annually is $4,766.03.
Knowing this, we decided to allow our customers to manage unlimited employees from only $3 per month. That’s one simple flat monthly fee, for unlimited employees. With Reckon One, it’s nice to know that as your business grows you won’t be charged extra for wanting to hire more staff – a big difference to some of our competitors in the market!
We also wanted to make sure our Payroll software was as easy as possible to use, packed with all the features and goodies businesses would need to be a success. And we believe we have done just that – so for just $3 per month, you will receive a bunch of benefits from us including:
- Payroll for unlimited employees
Easily manage wages, leave and super for unlimited staff. Unlike other payroll solutions, you don’t need to pay by the number of employees you have, saving you money as your business grows.
- Pay your employees easily (and quickly!)
Simply choose your ideal settings, enter your employee’s details and hit pay! You don’t need to set up their requirements each time you do a pay submission. Plus, you can create a pay run, save it and come back to it at a later time.
- Puts you in the drivers seat
Set up your accounting software the way you want. Organise pay items by industry, group of employees, tax rate, and much more – Reckon One Payroll is designed to fit your needs more perfectly than the rest.
- Exceptionally easy to use
Intuitive navigation, clear workflows and simple data entry means you can quickly pay staff, leaving you more time to better manage your business.
- Always stay up-to-date
The Payroll module will provide automatic updates for tax table changes, superannuation guarantee rates and other levies, ensuring your business always remains compliant.
On the 30th of June the ATO is requesting that all employees be SuperStream compliant.
Reckon One Payroll thus couldn’t have launched at a better time to meet the needs of businesses looking to comply with the new law.
Our $5 per month ‘medium’ Payroll module automatically processes contributions, using the National Australia Bank to facilitate processing across all major banks. While our ‘lite’ $3 per month Payroll offering will allow businesses to process their contributions manually from the 30 June 2016 deadline.
A FINAL WORD
We are so pleased to announce that Payroll is now live, and we hope that you will enjoy using it! We think there truly are some exciting days ahead for our customers, and for Reckon One.
Learn more about our Payroll module, and take a free trial, by visiting:
If you’re an Accountant or Bookkeeper, come see us on our national Roadshow to 24 regional and metropolitan locations taking place between 19 April – 26 May. It’s a great opportunity to learn more about Payroll and why it’s right for your clients, as well as network and provide feedback to us to ensure we are always the best. Register for free here: http://go.reckon.com/roadshow-au/