Reckon Software, the UK arm of the Reckon Group and a leading global provider of software solutions for accountants, and small to medium sized businesses, announced today the introduction of a Bank Data function for its online accounting software program, Reckon One. The aim is to reduce the time and effort required to run a business and eliminate the manual input of bank and credit card transactions with an automatic bank feed.

The new Bank Data function streamlines the reconciliation process by providing a connection to a range of High Street banks so that the latest banking and credit card transactions are imported directly into the Reckon One account where they are presented on screen. This simple to use module reduces the tedious task of manual data input by automating transaction entry and bank reconciliation. It reduces the risk of errors and gives the business owner a fast and visual update on financial position in real-time.

Transactions are shown on a month-by-month basis for ease of reconciliation and once the chosen processing / reconciliation rules are applied, the month can be locked down in readiness for year-end. In line with the Reckon approach to provide powerful yet affordable accounting software for small businesses that want to step into the Cloud, Bank Data costs just £2 per month. It has the potential to transform the small business’s ability to monitor its’ financial position with live information that is always up-to-date.

Mark Woolley, Director, Reckon Software says: “The new Bank Data module provides an important direct link between a business and its bank and makes reconciliation faster and more accurate. The ability to view and analyse bank information in real-time gives businesses a real edge.”