Product Range 

Elite Packs and Modules

Elite allows you to select individual modules or choose from three pre-defined 'Packs'. Each pack comprises a combination of Elite modules. 

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Elite Packs

Each Pack is a combination of various modules. We have three packs available:

Tax Pack

  • Practice Management
  • Tax

Tax Pack Plus

  • Practice Management
  • Tax
  • Ledger
  • TimeCost
  • TimeSheets

Accountants Pack

  • Practice Management
  • Tax
  • Ledger
  • Assets
  • TimeCost & TimeSheets
  • AdvanceDocs - more info
  • Rental Professional

Practice Management Module

Elite Practice Management is the core program of Elite. It is a high-powered, customisable client management system that includes powerful practice management tools that assist in keeping track of your client's status. Find out more about the key features below.

Functionality

  • Manage ELS lodgement
  • Create invoices and manage debtors
  • Access names, addresses and contact details instantly
  • Track client jobs
  • Extensive client/agent reporting
  • Appointment Diary - more info
  • Task Manager - more info
  • Document Manager - more info
  • Client Notes - more info
  • Download Manager - more info
  • Practical Calculators - more info

Front cover conversions from other packages

  • Client names, addresses, contact information and other front cover details
  • Depreciation from AO/AE
  • Motor Vehicle worksheet information from AO/AE

Technology

  • Embedded SQL database
  • Microsoft SQL server
  • Stand alone or network enabled

    Security

    • Multi-level security
    • Customisable security permissions 

    Tax Module

    The Practice Management module is required to run the Tax module.

    Prepare and lodge your clients’ returns with minimum effort and ease. Find out more about the key features and forms below.

    General Features

    • Sharing of interest, dividends and foreign income
    • Spouse financial figures to Spouse details
    • Glossary of common words
    • Standard letters with mail merge to MS Word
    • Simple Invoicing

    Tax return

    Rollover data in Reckon Elite Tax  

    • Capital Allowance worksheets rollover and recalculations
    • Motor Vehicle worksheets rollover 
    • Worksheet descriptions and information rollover

    Sub-systems

    • ATO Pre-fill
    • Ledger to Tax transfer
    • Rental Property split
    • Transfer Partnership distribution to partners' return
    • Transfer Trust distribution to beneficiaries' return

    Ledger Module

    Designed for use by Accountants in Public Practice. This Module prepares financial reports for Sole Traders, Partnerships, Trusts, Companies and Superannuation Funds.

    Chart of accounts and compliant statutory financial reporting are supplied with an easy to use interface. This product requires Elite Central to operate.

    Key Features

    Assets Module

    Designed to assist accountants and tax agents in managing the accounting and tax compliance issues relating to assets.

    The software provides both periodic and annual reporting as well as integration with the Ledger Module.

    Key features

    • Easy and effective management of your assets
    • Fully date based system – no period ends
    • Integration with Reckon Elite Ledger
    • Supports LVP, SBE, UCA and Luxury cars
    • Maintain both accounting and tax ‘views’ of asset calculations
    • Accounts for asset revaluation, 2nd element costs, private use calculations and reassessment of effective life
    • Comprehensive reporting
    • Account for partial disposals
    • Handles pooling of assets

    TimeCost Module

    Helps increase business and billings efficiency and accuracy. The TimeSheets module is automatically provided within TimeCost.

    General Features

    • Multi user capability
    • Fully date-based operation. No more period ends.
    • Easy calendar-based data entry
    • Real-time clock to instantly record WIP 
    • On-screen WIP and Debtors summary with drill-down to source transactions

    Integration

    • Full integration to important client data contained in the Elite Practice Management database

    Personalisation

    • Ability to apply a variety of WIP calculation methodologies  
    • Intelligent transaction controls help reduce accounting errors 

    Security

    • Security over user access to sensitive data reporting and functionality

    Reporting

    • Multi level drill-down reporting capability
    • Enhanced productivity reporting
    • Ability to print reports to a variety of formats including HTML, PDF, TXT, XLS, RTF and others
    • Track historical changes to important data variables (eg User charge rates, etc)

    TimeSheets Module

    A paperless system for submitting time sheets quickly and efficiently.

    You are automatically provided with a TimeSheets module within Elite TimeCost. TimeSheets is an add-on module to TimeCost which requires Elite Practice Management to operate.

    Key Features

    • Integrates with Elite Practice Management and Elite TimeCost
    • Easily captures time and expenses
    • Real-time clock to instantly record WIP
    • Past time sheets are available at your finger tips
    • Staff have instant access to the information
    • Your work is reduced by filling in time sheets faster
    • Your organisation runs smoother

    Rental Professional Module

    Perform gearing analysis on property purchases. Know immediately if the investment makes financial sense and whether there is significant tax benefits available.Quickly modify financial details such as financing, expense, income and uplift factors.

    Detailed professional reports that consider all the financial factors about the property as well as your own tax and financial position as the investor.

    Key Features

    Client Notes

    • Add, edit and delete note
    • Assign and allocate notes for any client
    • Improve client relations via centralised client information
    • Share client knowledge among staff
    • Keep all client notes in one place
    • Don't miss anything important about your client
    • Stay on top of things

    Download Manager

    • Update and maintain all your Elite software at the click of a button
    • One mouse click checks and compares all versions
    • Set download folder for all networked PCs to update from, saving download bandwidth and time
    • Save time by virtually eliminating inconsistent versions
    • Automatically set Elite to check for updates
      • daily
      • weekly
      • fortnightly
      • monthly

    Practical Calculators

    • Normal calculator
    • No of days between 2 dates calculator
    • Age in Years and Days calculator
    • Division 240 calculator - hire purchase transactions
    • Division 7A calculator - minimum yearly repayment for company loans
    • Tax payable calculator
      • Individual
      • Trust - Section 99A
      • Company
      • Fund - Complying
      • Fund - Non Complying

    Document Manager

    • Improve working papers and data collection
    • Organise any and all client data files efficiently
    • Store any files including Word, Excel, PDF's
    • Reduce paper storage and handling costs
    • Improve working papers and data collection
    • Increase staff productivity levels
    • Achieve a higher level of customer service and legal compliance
    • Lower client / staff frustration levels
    • Save time and money by being more organised
    • Find what you want, when you want it. Fast

    Task Manager

    • Add, edit and delete tasks
    • Assign and allocate tasks throughout the practice
    • Improve client relations via centralised client information
    • Better management control over employees / tasks
    • Improve office efficiency and guard against missed deadlines
    • Instant snapshot of individual and overall task progress
    • Improve office productivity and profitability

    Appointment Diary

    • EDIT - change details easily with no mess or fuss
    • SEARCH - Color coded appointment types for ease of use
    • FIND - Book appointments in advance searching by time and user
    • REMINDERS - system prompts you before appointments/tasks
    • VIEW - easily select 1, 5 or 7 day view and make appointments for others
    • PRINT - and if you still want to keep your paper version, you can simply click 'print' and have your information either daily or weekly

    Tax forms

    • Individuals and Amendable Individuals (EI)
    • Companies and Amendable Companies (EC) 
    • Partnerships and Amendable Partnerships (EP)
    • Trusts and Amendable Trusts (ET)
    • Superannuation Funds and Amendable Superannuation Funds (EF)
    • Self-Managed Superannuation Funds and Amendable Self-Managed Superannuation Funds (MS)
    • Fringe Benefit Tax and Amendable Fringe Benefit Tax (EB)

    GST forms

    • Business Activity Statement and Amendable Business Activity Statement (GA)
    • Instalment Activity Statement and Amendable Instalment Activity Statement (GB)
    • Annual IAS & Amendable annual IAS (GI)
    • Annual GST & Amendable Annual GST (GR)  

    Other forms

    • Application for Private Ruling (ER)
    • Client Update (CU)
    • Correspondence Preference (CP)
    • Electronic Funds Transfer (EM)
    • Product Stewardship Oil Scheme (DJ)
    • Report Request (RR)
    • Super Surcharge (SP)
    • Super Assessment Variation (SR)
    • Super Member Data (ES)
    • Family Trust Election Standalone (XX)
    • Interposed Entity Election Standalone (YY)
    • Member Contribution Supplier Details (MC)
    • Trust Details (TD)
    • Excess Concessional Contributions (EY)
    • Refund for Franking Credit Application (VR)

    Worksheets

    • Multiple Depreciation Schedules
    • Thin Capitalisation Schedule
    • Research and Development Schedule
    • Consolidation Schedules
    • Motor Vehicle Worksheet
    • Rental Property Worksheet
    • Business Worksheet
    • Livestock Worksheet
    • PSI Worksheet
    • CGT Worksheet with optimisation tools
    • Losses Worksheet
    • Interposed Entity Election
    • Interest and Divident Deduction Schedule
    • Family Trust Entity Election / Revocation
    • Detailed Spouse Worksheet
    • Batch Data Entry Worksheets

    Tax Calculation

    • Medicare Levy
    • HECS Debt
    • SFSS Debt
    • Pension Tax Offset
    • Beneficiary offset
    • Lump Sum Offset
    • Income Averaging
    • Capital Gains Tax
    • Notional Tax
    • GDP Adjusted Notional Tax

    Extensive Printing Capabilities

    • Prints summary tax return
    • Prints entire tax return
    • Prints all worksheets
    • Print streaming
    • Supports Windows compatible printers

    Master charts

    • Reckon Elite and APS master charts (charts of accounts)
    • Create custom master charts (copy and edit master charts)
    • Synchronise custom master charts to standard master charts

    Job charts

    • Create and edit job charts
    • Create subaccounts and branches
    • Set accounting properties
    • Synchronise job charts to master charts

    Accounts management

    • Enable/disable subaccounts and branches
    • Customise account number format
    • Use swinging accounts
    • Edit account details

    Data entry

    • Set data entry options
    • Create batches/journals
    • Establish opening balances
    • Post and sort transactions
    • Search for transactions
    • Edit calculated tax totals
    • Transfer accounts within batches/journals

    Bank reconciliation

    • Enter bank reconciliation details
    • Create and print bank reconciliation statements

    Livestock accounting

    • Enable/disable livestock accounting
    • Quick and easy livestock account setup and valuation

    Reports

    • Print account and livestock reports
    • Print financial and statutory reports
    • Use global variables and merge tags
    • Use and restore default report templates
    • Modify existing report templates
    • Create custom report templates

    Accounting for taxes

    • Account for taxes (e.g. GST)
    • Export ledger data to BAS
    • Use default tax codes
    • Create custom tax codes
    • Enable/disable tax codes
    • Modify taxable amounts

    Import and export data

    • Create account mapping files
    • Use account mapping files when importing data
    • Import QuickBooks data
    • Import BankLink data
    • Import PC Cashflow Manager data
    • Import Reckon Elite Assets data
    • Export ledger data to BAS
    • Ledger to Tax transfer

    Roll over prior year ledger data

    • Roll over job charts and job reports
    • Roll over batch balances and tax codes
    • Roll over global variables and merge tags
    • Roll over job summary notes and setup parameters

    Personal and Financial Details

    • Full client details including names, addresses and contact details
    • Taxable income and share of ownership

    Property Details

    • Rental property details
    • Uplift factors - vacancy rates, exponential property growth, rate of inflation, etc
    • Purchase details - contract price, deposit, property stamp duties, etc
    • Borrowing cost details - mortgage insurance, loan setups
    • Auto calculation by state of property and mortgage stamp duties, etc
    • Loan details - type of loans, interest rates, monthly repayments, etc
    • Calculations - no manual calculations required

    Profit and Loss Details

    • Full profit and loss accounting for rental properties
    • Includes depreciation, notes and calculators

    Tax Summary

    • Tax position analysis - current vs new
    • Tax calculations include non-residents, medicare and company tax rates
    • Cash movement position - current vs new
    • Investment analysis - cost of investment less tax savings measured weekly, monthly and yearly

    Property Analysis

    • Equity graph analysis - asset value vs debt
    • Gearing graph analysis - income and tax savings vs cash expenses and principal payments
    • Loan amortisation schedule - over period of loan
    • All reports presented in 5, 10 , 15, 20, 25 and 30 year summaries

    Reports

    • Front cover
    • Property and loan details
    • Profit and loss statement
    • Tax summary position - before and after
    • Professional disclaimer
    • Loan amortisation tables
    • Cash flow table
    • Equity graph
    • Gearing graph
    • Profit and loss (30 year projection)
    • Tax summary position (30 year projection)
    • Value vs gearing (30 year projection)
    • Assumption schedule

    AdvanceDocs

    Make the step towards a portable and paperless office.

    • Documents can be grouped, organised, encrypted and simultaneously emailed or faxed
    • Create secure documents in Adobe® PDF format, including:
      • Cover letters, Tax Returns
      • Financial accounts
      • Depreciation Schedules
      • Scanned client letters
      • Scanned source documents
      • Scanned ATO assessments