Reckon and IPA strengthen partnership with industry-first initiative

AUSTRALIAN accounting software provider Reckon (ASX:RKN) has bolstered their partnership with the Institute of Public Accountants (IPA), expanding the distribution of IPA books+ cloud accounting solution to boost small business productivity.

This first of its kind industry initiative will provide IPA members with access across the board to simple, powerful online accounting software as part of their membership.

With 38,000 IPA members servicing the small business sector, the partnership will provide every public practice member with five cloud accounting books; enabling them to better cater for the needs of Australian small business. 

In addition, for just $7 per month, members can expand the number of books to service additional clients. This initiative was member-driven with in-depth feedback following the launch of IPA Books+, a white labelled version of Reckon’s flagship cloud accounting solution Reckon One.  Put simply, members vocalised the desire to make running their business and those of their clients easier.

“The continued move to the cloud is a key focus for our members and the small business community they serve” said IPA chief executive officer, Andrew Conway.

“The IPA and Reckon are committed to ensuring small business has access to cloud accounting solutions to facilitate a transition to online accounting, Single Touch Payroll compliance and facilitate enhanced efficiencies. By providing five books per IPA practice we hope a small business that is currently outside the cloud considers contacting an IPA practitioner to take advantage of this partnership.

“Recent updates from the ATO suggest that over 35 percent, or roughly 300,000 businesses, that employ staff are yet to adopt online accounting, which is required to submit payroll information to the ATO as part of the upcoming 1 July 2020  Single Touch Payroll reporting deadline.

“With this change coming into play, the time has come for IPA to make it even easier for members to offer IPA Books+ as the easy and most affordable solution for clients.  Importantly, when it comes to business disaster recovery, retrieval from the cloud plays a vital role, and our members therefore can better assist clients in emergency situations," Mr Conway said.

Sam Allert CEO of Reckon, said, “This strengthened partnership with the IPA delivers a unique and compelling proposition to public practice members and their clients. The bundling of accounting software as part of the membership helps the IPA with its stated purpose of enhancing the life of small business; which includes more than 75 percent of its member base being involved in small business.

“These bundled software benefits will also be enjoyed by members of the Institute of Financial Accountants (IFA) in the UK (a member of the IPA Group), aligning to Reckon’s expanding presence in this market.”

As with all Reckon products, IPA Books+ is approved for the Australian Taxation Office’s Single Touch Payroll reporting requirement. Mr Allert noted that with the long tail of thousands of small businesses with 19 or less employees looking to get compliant come July 1, this presents a massive opportunity for both organisations.

About Institute of Public Accountants

The IPA, formed in 1923, is one of Australia’s three legally recognised professional accounting bodies.  In late 2014, the IPA acquired the Institute of Financial Accountants in the UK and formed the IPA Group, with more than 38,000 members and students in over 80 countries.  The IPA Group is the largest SME focused accountancy organisation in the world. The IPA is a member of the International Federation of Accountants, the Accounting Professional and Ethical Standards Board and the Confederation of Asian and Pacific Accountants.

About Reckon

Reckon is an ASX listed and Australian owned company with over 30 years’ experience delivering market leading solutions to accountants and bookkeepers, legal professionals and small to medium sized businesses.  Reckon’s software services are designed to make accounting faster, easier and more productive. Find out more at www.reckon.com.

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