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New affordable online accounting software delivers timely helping hand for businesses facing compulsory digital record keeping

“Many micro-businesses won’t want to pay too much to make the jump from paper or Excel to comply”

Cambridge – May 24th 2016 - Reckon Software (formerly Lindenhouse) has announced the introduction of an easy to use and affordable online accounting platform for micro, small and medium sized businesses. Reckon One provides a timely solution to the challenge facing UK businesses following the introduction of new guidelines introduced by the Chancellor in the 2015 Budget.

From April 2018, small, non-VAT registered businesses will be the first to have to fulfill Government proposals for Making Digital. The change will make digital record keeping compulsory and in addition they face a new requirement to make four online returns of information to HMRC each year. By 2020 this will apply to all businesses.

75% of UK businesses will need to implement accounting software according to
research carried out by the Institute of Chartered Accountants in England and Wales. The number is even higher in relation to one-person businesses, with 82% needing to move from paper based records or spreadsheets.

“A fair price point is one of the key benefits of Reckon One,” comments Mark Woolley, Commercial Director, Reckon Software. “Many micro-businesses won’t want to pay too much to make the jump from paper or Excel to comply.”

The core module of Reckon One costs from £3 per month and allows small businesses to record income and expenditure, manage budgets and generate over 35 reports. Additional modules, including Bank Data, Invoices, Time and Expenses and Projects, are available from £2 per month.

Reckon One is unique in its’ ‘pick and mix’ approach, allowing small businesses to choose the modules they need and turn functionality off and on as needed. The ability to pay for only for what is used and when it is used marks a major step forward in the accounting software arena where monthly add-ons can add up. “They can turn it on for six months and then leave it for the rest of the year as required,” adds Mark.

With access from a desktop, laptop, tablet and from a smartphone, Reckon One has been developed to cater for managing finances on the go.

Mark continues: “Many potential customers already have smartphone so they have the tools to make the jump to the cloud. We recognise that, it’s a big part of our strategy.”

Although a newcomer to the UK accounting software market, Reckon Group has an impressive track record as a leading provider of software solutions for accountants, bookkeepers and small to medium sized businesses in Australia and New Zealand with over 600,000 active customers globally using its proprietary solutions.