BankData Workbook

Published by Reckon Limited

All Rights Reserved

Copyright Reckon Limited

Copyright

No part of these materials may be reproduced, stored in or introduced into a retrieval system, or transmitted in any form or

by any means, including photocopying without the prior written permission of both the author and Reckon Limited.

Disclaimer

Because of the possibility of human or mechanical error the material contained within this book is supplied without

representation or guarantee of any kind. The publishers and author are not responsible for any errors or omissions or the

result from the use of such material. All accounting information used in this book is to help the user understand how the

program can be used. It is important to seek the advice of the business’ accountant to ensure that all tax issues relevant to

the business are covered.

The information contained within this manual is for demonstration purposes only. You should satisfy yourself of the current

requirements of the Australian laws and regulations and seek your own advice from your professional adviser as to your

financial and business needs and obligations before acting on any information provided in this manual. Reckon Limited and

its related bodies corporate (to the extent permitted by the law) have no legal liability to you in respect of any of the Reckon

products or services.

Reckon Limited does not provide legal, taxation, financial or investment advice.

Welcome to Reckon

Thank you for choosing Reckon.

This workbook has been developed to assist you in getting started with your Reckon

One book.

Feedback

If you have any feedback, we would love to hear from you. Please email us at

[email protected] with any comments, ideas or suggestions.

The Reckon Training team

mailto:[email protected]

TABLE OF CONTENTS

Welcome to Reckon ...................................................................................................... 3

Getting Started – New Users ........................................................................................ 5

Getting Started – Existing Users .................................................................................. 7

Using the Demo Book ................................................................................................... 8

Creating a Book ............................................................................................................. 9

Customising your Book .............................................................................................. 13

Navigate your Book ..................................................................................................... 14

Set up Roles ................................................................................................................. 15

Set up Users / Share a book ....................................................................................... 18

Chart of Accounts ........................................................................................................ 20

Bank Data Overview ................................................................................................... 23

Manage Accounts ........................................................................................................ 24

Setting Up bank connections ..................................................................................... 26

Manual Upload ............................................................................................................ 28

Create Transaction Rules ........................................................................................... 30

Allocate Transactions .................................................................................................. 33

Reconciliation .............................................................................................................. 36

Transferring money .................................................................................................... 39

Reports ......................................................................................................................... 40

Logging Out ................................................................................................................. 45

Support ........................................................................................................................ 45

Reckon One Evolution – Bank Data v1.6 2015 Page 5 of 46

Getting Started – New Users

Go to the Reckon homepage and click on the LOGIN menu in the far right corner and select One

from the drop down menu.

This will take you to the Reckon One log in / sign up page.

If you are a new user you may not have a Reckon User

ID or Username so you will need to create one as part

of your profile.

At the top of the page you will see New customer? Sign

up for free.

Click on the blue text to go to the registration page.

Go through and complete the fields with the details requested. You must supply a valid email

address as this will be used to validate your account, receive correspondence related to your

file and retrieve lost user ID or passwords.

When you reach the Username field this will be what you use to sign in for future sessions.

Type in a username you would like, if it is available you will see a green message Username is

available.

If the name is taken, you will see a Username already exists! message. You will need to try

another combination until you find a useable Username.

Reckon One Evo – Bank Data v1.6 2015 Page 6 of 46

You will then need to select a valid password which you will use with your Username to log in

for all your future sessions of Reckon One. Ensure that you agree to the terms by ticking the

terms of use box.

You will then be sent a link to the email you used while registering to confirm your email and

details.

Click on the link to activate your Reckon One account and get started!

Log into Reckon One with your newly created and confirmed Username and Password.


Getting Started – Existing Users

As an existing user you will have a Username and password to log into Reckon One.

Enter the Username and password into the

appropriate fields.

You can tick the Remember me box next to the

green Login button. This will mean the next time

that you log into Reckon One your Username and

password will be prepopulated in the fields and

you can just click Login.

Remember to always have a separate User ID

and password for your laptop log in to add an

extra layer of security.

Once you have logged in you will go to the landing page where you can view your books, filter

to view shared books and create brand new books.

** Note you can only view shared books and access the Demo book when you have completed

registration and purchase of Reckon One, fully validating and activating your account. Until this is

completed you will only be able to access your Trial book but not the Demo book. **


Using the Demo Book

Your Reckon One access comes with a demo book containing pre filled sample data.

It is a great place to start and learn how to navigate or to test out a process before actioning it

in a live book.

Any changes made to the Demo book will not be saved.


Creating a Book

Reckon One makes creating a new book an easy task by using the set up wizard.

Simply click on the Add a book button to get started and let the wizard

help you through the process.

The Design your business here window gives the options to choose the modules that you want to

use in your book at a Lite, Medium, Advanced or Custom level. Remember all you need to get

started is Core, the other modules can be added, scaled up or scaled down as needed giving

the freedom to run your business as based on your requirements.

Follow the prompts through your purchase screen and make sure you read and accept the

Reckon Terms and Conditions and Privacy Policy.


Once you see the confirmation screen click on the Setup book wizard button to begin.

Give the book a name, choose your industry which defines the Chart of Accounts (COA) and set

your preferences for GST and financial reporting.


Next set up some basics for your Chart of Accounts or accept the defaults and edit later.

Set your financial year and book start dates.

** Note – should you wish to record comparative figures for a prior year, the start date nominated

should be the year prior to the current financial year.**


Enter account opening balances at this stage or just hit continue to do this within the book

once the wizard is finished.

Further define your industry to better help Reckon One understand your business. Select the

relevant options from the drop down lists.

Click Save and finish to return to your main page and your new book is there ready to log in.


Customising your Book

Once the book has been created, it can be customised i.e. the way it looks (colour), name and

the modules you want active.

Clicking on Modules will take you back to the Modules

selection screen that you initially saw when creating your

book.

You can turn modules off or on, scale up and scale down

the modular functionality at any time, giving you the

freedom to customise your book to best suit your business.

Remember you only pay for what you use, you have the

option to turn all modules off for 7 years with data available

in read only mode.

To customise the name and appearance of your book click on the Settings option in the drop

down menu. Once you have updated your book click Save settings to return to the main screen.

The landing page can be filtered to change the books seen on the page by selecting from the

drop down menu on the Filters box.


Navigate your Book

When you open your book you are taken to the Dashboard which gives you a snap shot of the

business via customizable widgets. The widgets displayed will be dependent on the modules

active in the book. You can click and drag the widgets around the screen as well as click on the

settings button to customise the graphs and periods displayed.

You can customise the widgets displayed by clicking the Customise Dashboard button.

You can select widgets displayed by checking / unchecking the boxes in the Available Widgets

list.


You can also quickly navigate using the Quick Transaction menu. The options displayed will

be dependent on the modules that are active within the book.

Set up Roles

You can create unlimited roles in your book. A user can have more than

one role applied to them. Roles are hierarchal meaning that the role with

the higher level permissions will override other lower roles / permissions.

Click on your book from the main page to open it. Click on the Administration menu on the far

right and select Users and roles from the drop down menu.


Administrator The administrator role is a global role to all areas and permissions in Reckon

One.

SuperUser The Superuser role is the same as the Administrator role in Reckon One

except for the permissions relating to users and roles which are limited.

Limited The Limited role is a global read only role in Reckon One.

Custom You can create customised roles by clicking Add a role or you can Copy role

from an existing role in the list and further customise it.

When creating a book you are designated as an Administrator role. From the overview screen

(above) you can see how many users are applied to each role.

To create a new role click the green Add button.


Click on each relevant module / area of the role and you can then tick functions to give

access or deselect to remove access.

A yellow circle indicates partial or no access.

A green circle indicates full access.

A grey x indicates no access.

If Users are already created they can be assigned to a Role by using the drop down menu and

Add button at the bottom of the page.

Use Duplicate to copy an existing Role and only change what is required, this will save time and

can reduce the likelihood of errors or incorrect selection.

To remove a user from a role, scroll to the bottom of the page within a role properties.

Click on the red X beside the user’s name to remove this role from their profile.

This will only remove the role from the user not remove the user’s access to the book. If there

are multiple roles they will have to be selected / deselected individually.

You can see what roles a user has currently applied from the Users tab.

To remove access to the book completely a user must be removed from the Users tab.


Set up Users / Share a book

Click on the Administration menu on the far right and select Users and Roles

from the drop down menu.

When a book is first created, you will be the only user and will by default be assigned an

Administrator role.

To add a new user click on the green Add a user button in the top right corner of the screen.

You can add / search for an existing Reckon user by Username or UserID by entering it in the

field and clicking on the blue Check username button.


Select the role to be assigned to the user.

Once you are sure of the selection click save and close at the top right of the screen. Once saved

the user will have access to the book in Reckon One so be sure the correct role and

permissions have been applied.

Access to the book can be removed easily by selecting the user from the list and clicking on the

Remove button down the bottom left of the screen.

This will remove user access to the book but the user will still exist as an active user within

Reckon One and could be added to the book or another at a later stage.


To view a shared book that you have been given access to is simple. From the main landing

page when you first log in click on the filter drop down menu and select Shared with me to filter

and view only shared books.

Chart of Accounts

To open / edit the Chart of Accounts click on the Settings menu and then Chart of Accounts from

the drop down meu.

From the landing screen select which account type to view.


An account’s Export Code is a ‘mapping’ code that is at present unused. In future the Export

Code will link to ledger systems. For example if you had a export code of 230 Sales, you would

enter 230 in your export code for sales transactions to allow for mapping into external

applications and when you export reports to excel or to external systems using that code.

Customise the screen view using the Show/hide columns filter to select what columns to be

displayed on the screen. Should you prefer not to display a field for example Export code,

deselect Export code x and it will no longer be displayed.

To add a new account click green Add button. Accounts can be created as header or sub

accounts down to three levels.

Note that the red asterisk means a mandatory field and must be completed. Fill in the relevant

fields and click Save and close.

Accounts can be Active, Inactive or deleted within your book. Only Active codes can be used in

transactions.

To Edit or Delete an account click on the Account from the Account List. Edit the account details

by clicking in the relevant fields or select one of the options View transactions, Delete or View

history underneath the Save and close button.


Once changes have been completed information viewed, click on the Save & close button.

View the audit trail / history of an account in the book. With the account open click on the View

History button. To close the window click the white x.

The order of the books accounts can be reorganised to better suit business processing. To

reorganise the accounts permanently not just filter them which reverts back to the original

display after refreshing the scree, you need to use the Reorganise your ** accounts tool.

On any account tab for example Income, click on the green text Reorganise your income

accounts.


To reposition the account order click on an account and drag it with your mouse up or down

the list where you want it to be positioned.

When finished click on the green Save button.

Bank Data Overview

Reckon One’s BankData module allows bank transactions to be automatically imported from

within Reckon One so you don’t have to spend time logging into your financial institution and

importing them manually. BankData provides a gateway between Reckon One and your chosen

financial institution. Each day all the financial data that has been collected in your chosen bank

account is sent directly to your Reckon One book to help reconcile transactions.

For more information on how Reckon BankData works or activate your new Reckon BankData

service, or manage your bank feeds, visit bankdata.reckon.com or Reckon Community.

You need to activate the Reckon BankData by entering your Customer credentials

(Username/User ID and Password/Pin).

http://www.bankdata.reckon.com/


After login to the BankData website, you are asked to choose the plan and provide the

payment details. Once setup is complete, you can request for bank feeds from different

financial institutions. Feed requests undergo approval process and then application can get the

BankData transactions.

Manage Accounts

To manage / edit your accounts go to the Banking center through your Day to Day menu or

through clicking on the widgets.

This will take you to the accounts overview screen where you will see all the bank account and

credit card accounts for the book.

You can add a new account by clicking the green Add button.

You can click on the icon for each month to go into the Transactions view.


To view / edit the Account properties click on the Settings icon (spanner) on the top right corner

above the account month icons.

Different icons will let you know the status of that month for the account.

This icon will show when This icon will show when

there are no current transactions there are transactions

for the month. for the month.


This icon will show when the month This icon will show when

has been reconciled. the transaction period

has been locked.

Clicking on the month icons will open the Transactions view.

Setting Up bank connections

In order for BankData to automatically download transactions from bank accounts, bank

connections need to be set up by linking the bank accounts to the bank feeds. Once the

connection is established, bank entries need to be distributed / matched to the relevant bank

account in Reckon One in the same way a QIF import is distributed or matched.

To connect a bank account, go to Day to day menu and then click Banking.


Click on the Bank connections tab.

The screen lists the bank feeds that are available for use and it only displays the bank feeds

that you have access to.

Locate the bank feed that to connect and click Link. In the Account column, click the drop-down

list and select the bank account.

Click Save. A tick symbol appears in front of the linked bank account.


** Note: Reckon One will start automatically downloading and importing bank entries via your bank

feed. By default, the bank entries can be found in the Unallocated tab in the Transactions window of

the selected bank account. **

To view the imported transactions click on the green Reconcile button.

Manual Upload

Reckon One still allows importing electronic bank statements into Reckon One by using the

manual upload process.

Log into your financial institution and export the electronic bank statement or bank

transactions into a QIF file or CSV file and save it on the local computer and then upload it into

Reckon One.

Go to Day to day menu and then click Banking.On the Bank accounts tab, find the bank account

required and click the corresponding transaction period.


The Transactions screen of the selected bank account opens.

Click the New tab then click the Manual upload button at the top-right hand corner of the

screen.

Click the Select file button.

Choose the QIF file to import then click the green Import the file button at the top right corner

of the screen.


The imported bank entries will appear on the New tab of the selected bank accounts.

The next step is to create rules if applicable, allocate and reconcile the transactions.

Create Transaction Rules

To make allocating transactions quicker and easier in Reckon One, create rules which match

between your imported bank entries and transactions already exist in Reckon One. For

transactions where there is no match in Reckon One, automatically create a payment/deposit

or a transfer based on the rule set up.

Go to the Day to day menu and click Banking from the drop down menu. Click on the

Transaction rules tab.

Click the green Add button.


Enter a rule name and select whether the rule applies to Money in or Money out (spend / receive

money). Specify the conditions of the rule, such as Description, Reference, Date range, Type

and amount.

For example, to create a rule for any payment transactions from grocery shopping, set up the

condition as: Description has Any of these words Grocer Reference has Anything Transaction

day is Any Date Amount is Anything.

** Note: When you select the condition to “This exact wording”, the values you entered are case

sensitive. **

Specify the outcome of the rule. For example to create a payment entry for any transactions

that match the above condition, set up the outcome as; Do the following = Create a payment,

Contact = Supplier Grocer, Description = Grocery Shopping.


Allocations are where you specify the account, amount and tax to be entered in Reckon One.

For example, all grocery shopping transactions are to be allocated to the Expense – Office

sundries – Food account. Set up the Allocation as: Account: Expense – Office Sundries – food,

Tax Code: NCG, Percentage 100%

**If you choose the Type to “Amount”, you then must add other line(s) and select Type to Percent and

the total Percentage allocation must add up to 100%. **

Click the Save & Close button. Once saved the rule will automatically run over any unallocated

transactions in the system.

An easier way to create an allocation rule is to click on the green plus symbol and select the

option Add rule.

Creating the rule this way will pull in information from the transaction however you will still

need to check and edit this information for the rule to work properly.

For example you would need to select Amount is and another option to unlock this field to

remove the value and have it as a nill value if the amount variates month to month.


Once the rule has been saved it will automatically run across the unallocated transactions in

your screen and you will see this via the icons.

Clicking the green OK will allocate the transaction as per the rule definitions. If you want to

allocate it differently you can click the green plus symbol and select Allocate transaction.

Allocate Transactions

After importing the required bank transactions into Reckon One, either by BankData automatic

import or by Manual Upload, the imported bank transactions will be displayed on the

Unallocated tab of the Transactions screen under the selected bank account.

To allocate bank transactions with Reckon One transactions click on the relevant period and

then click on the Transactions screen of the selected bank account. Click the New tab.


If transaction rules have been created as per in the previous step, Reckon One will match

transactions based on the active rules within the book. Click Ok in the Allocate? column. Reckon

One will match the transaction for you.

The remaining transactions displayed on the screen means that Reckon One couldn’t find any

matched transactions within the book. Click the Actions button + and choose from one of the

following actions:

Allocate payment - if it is a Money Out transaction

Allocate receipt - if it is a Money In transaction

Allocate transfer - if it is a money transferred from another bank

Add rule - if you want to create a transaction rule for the transaction, or similar

transactions

Ignore for now - if you don’t want the transaction to be picked up by any rule and you

want to deal with these transactions separately


After all transactions have been allocated continue on to reconcile them on the Allocated tab of

the Transactions screen.


Reconciliation

As cheques are written, money withdrawn, make deposits, and incur bank charges, each of

these transactions should be recorded in Reckon One and then “matched” with the bank’s

records. This matching process is called reconciling. Reconciling accounts is a key step to

ensuring the accuracy of your accounting records.

Click on the Day to day menu and then click on Banking and select the Bank accounts tab of the

Banking window. Select the bank account and click on the transaction period that contains the

transactions to reconcile.

(Optional) Change the period to reconcile in the date fields and click Refresh. The selected

transactions will display. Enter the Expected balance of book.

Work through the transactions, matching them to the bank statement and click Reconcile green

button.


After a transaction has been reconciled there are several options available. You can click the

Unreconcile link to unreconciled the transaction.

You can click the Details button to open and view the transaction details.

You can also reconcile or unreconciled all transactions on the tab by clicking the buttons in the

bottom left corner of the screen.

At the end of the month enter in the opening balance from the bank statement, into the

Expected Closing Balance field at the top right corner of the screen. With all the transactions

reconciled the balance difference field should be at $0.00.

Click Finish Reconciliation.


You will be prompted with the following message.

If you click Yes this will lock the period up to the date

indicated meaning that it will become read only in the

book. It will not lock the entire book just this period. This

helps prevent and accidental changes or deletions to

reconciled transactions. You can always unlock a period

by going into the bank account settings.

If a period is locked the icon on the month in the Bank Accounts screen will change to a white

background with a black padlock.

To unlock click the settings button on the account and remove the date from the Transactions

locked off before field.


Transferring money

To transfer money from one account to another in Reckon One click the Day to day menu and

then click on Banking. Click on the Transfer money tab of the Banking window.

** Note: From the Transfer money tab, you can also view or delete a previous money transfer. **

Click Add, the Add new transfer window opens.

Enter the date and the amount to transfer. Select the bank account to transfer from and to

transfer to. Enter a description for this money transfer. Click the Save & close button.

To select an account that is not a bank account or credit card, tick the box next to the Show all

accounts (not just bank accounts) text. This will allow you to select any account from the Chart of

Accounts within the book.


Reports

Reckon One has a range of reports designed to help analyse and understand a business’s

financial position. Reports are available by clicking the Reporting tab. Reports can be printed or

exported.

These reports are available in the Core module, the available reports will change as Modules

are activated.

Reckon One reports with Core only are grouped into 7 sections;

Financial

o Profit and Loss, Balance Sheet, Trial Balance, Account Enquiry

Tax

o GST Summary, Tax Code Transactions

Customers

o Customer Transactions

Suppliers

o Supplier Transactions

Analytics

o Top 10 Customers, Top 10 Suppliers, Top 10 Income Accounts, Top 10 Expense

Accounts, Budgets

Lists

o Account List, Bank Account List, Item List, Customer List, Supplier List, Tax Code

List.

Advisor

o Payment List, Receipt List, Journal List


To run a report for example the PROFIT AND LOSS click on the Financial tab and then the green

Generate button.

Choose the Reporting period and Comparison period if applicable. Scroll down once the options

are selected to view the report.

To further edit the report click on the green Show more options button.


Select the modifications and filters you wish to apply to the report then click Show fewer options

to collapse the menu again. Click the green Refresh button to apply the changes to the report.

To export click the drop down arrow beside the green Export to PDF button and choose the

required format.

The report will download, once completed click the drop down arrow and select to open from

within the browser or from your computers Downloads folder.


You can double click on the report from the folder and launch it from there.

You can run reports with a single click from your dashboard!


Click on the graph or diagram and it will launch the relating report right from the dashboard.

You can click on a totals figure on the right hand side and Reckon One will drill down into an

Account Enquiry report for you.


Logging Out

To log out of Reckon One click on the Administration menu and click on the Log Out option.

Support

You can access support from within Reckon One by clicking on the Support icon.

This will take you to the Contact Us page.

You can also access help via the Reckon website. From the main page at www.Reckon.com.au

click on Support and select Support from the drop down menu.

http://www.reckon.com.au/


You can select One from the software options and access FAQ and suggestions or post your

own question.

You can also view and join the Reckon Community where you can post, participate and follow

questions and conversations.

Click on the Community icon at the top of the page to navigate to the Community page.

You can join for free and manage your email preferences easily, just click the Register link and

follow the prompts.

SYDNEY

Level 7, 65 Berry Street, North Sydney NSW 2060 Australia

T +61 2 9577 5000 | F +61 2 9577 5555

AUCKLAND

Ground Floor, ITC Building, 9 City Road, Auckland, New Zealand

T +64 9 302 2228 | F +64 9 302 2121

Reckon Limited ABN 14 003 348 730

[email protected] | www.reckon.com

BankData Workbook - Reckon AU

Documents

Transcript of BankData Workbook - Reckon AU