Frequently Asked Questions

Recount provides businesses with AI generated financial analysis – it acts by spotting trends, calling out problems, and forecasting what’s likely to happen next. Using our Artificial Intelligence technology, we create insightful reports with relevant details, in plain language – in seconds.

Recount looks at your business through Xero, taking the hard work out of interpreting your business’ data. We create your reports on demand, whenever and wherever you need. That includes a HealthCheck summary, with more detailed reports on key items such as cash, sales, operating expenses and receivables.

Recount applies skills common to financial analysts and business coaches to serve your company tirelessly, providing reports written with the expertise of a human. Recount analyses and communicates like a human – it’s easy to wrap into your business.

Recount connects to your financial data in your accounting system. It performs analyses, calculations and scrutiny on the data within your accounting system and uses Natural Language Generation technology to write easy to read but sophisticated reports, just like a Management Accountant would do.

More information can be found here: http://recount.com/getting-started-guide/

Recount needs to be connected to your Xero account to be able to analyse your organisation’s financial data. If you want to switch to another organisation, or want to stop using Recount, you can disconnect your Xero account from Recount by:

1. Goong to ‘Settings’ (in the user menu), and click on ‘Xero’ in the menu on the left.
2. Click the ‘Disconnect from Xero’ button.

Recount currently attaches to one company’s data at a time. You are required to log out of any one company before logging into another, via the account settings at the top right of your home screen in Recount. By mid-2017, it will be possible to toggle between reports of different companies, without logging out and re-logging in each time.

Recount is cloud based. There is nothing saved on your desktop but our secure cloud uses best-in-class cloud standards, from a security perspective and back-up/assurance perspective.

Recount does not provide a Demo company but can run reports on a demo company within Xero. You can easily create a demo company in Xero, Recount can be connected to that.

Link to Xero Demo co. https://help.xero.com/au/democoguide

Recount is not giving financial advice, but is analysing the data within your accounting books, that have already been entered. Where irregularities or calculations highlight areas of concern, Recount informs of generally accepted solution options and possible course of action.

Recount is purely cloud based and hence requires internet connection and works on any recent desktop system (e.g. OSX, Windows 8.1 and above) or tablet (e.g. iOS 9 and above, Android Marshmallow and above) with an internet connection that supports an up-to-date web-browser.

Recount recommends the following browsers, though we believe that Google Chrome provides the best user experience.:

• Chrome 50.0.2661 and above (Linux, OSX, Windows, iOS & Android)
• Internet Explorer 11 and above
• Firefox 48 and above
• Safari 9.1.1 and above

If you participated in our ANZ beta programme, your free trial account will continue to work, and you can buy a subscription (but in GBP).

Recount is a certified Xero Connected App and securely accesses both Xero formal reports (e.g. Profit & Loss, Balance Sheet, Bank Summary) as well as deeper Xero data such as invoices, credit notes and the customer information etc. We ensure that when you set your account up, we always do this through a secure connection.

Recount is accrual-based.

Recount will soon compare your results to budget if your accounting system has budgeted figures within it. Currently, only past results are compared with.

Recount may reveal results that appear irregular or even incorrect, that you may not ordinarily see within your accounting system. You should investigate any unusual or unexpected results or consult with an accounting professional.

In the “Health Check”, Recount shows the formulae used in all the calculations in the information symbol “i”, shown next to the formula heading:

The other reports in Recount have calculations performed in line with generally accepted accounting principles.

If your report looks wrong, it may be because you have a ‘non-standard’ Xero account. To tailor Recount to your custom Xero setup, click on the menu (top right), and select ‘Settings’. Click on ‘Account Mapping’ to create custom mappings from Xero to Recount:

If you make any mistakes, you can restore default settings at any time by clicking on the ‘Restore to Defaults’ button.

Recount is a certified Xero Connected App and securely accesses both Xero formal reports (e.g. Profit & Loss, Balance Sheet, Bank Summary) as well as deeper Xero data such as invoices, credit notes and the customer information etc. We ensure that when you set your account up, we always do this through a secure connection.

No. Recount shares no information whatsoever outside your organisation. Your management reports produced are accessible only by the account holder with due access security-procedures.

No Information is shared with any government or non-government authority.

Recount accesses information that is saved within your accounting package, i.e., Xero. No one can access information stored within Recount’s secure cloud system without your security information. Please ensure that your passwords are maintained with the highest standards of care and security.

The Xero ‘Standard’ or ‘Adviser’ user roles enable you to authorise Recount to access data from your Xero organisation.

Verify if you have access to ‘All Reports’ under ‘User Permission – View Reports’. You will not be able to view reports in Recount if you don’t have access to ‘All Reports’ in Xero User Permission.

For more details, please see https://help.xero.com/au/Standard