adjustment of claims and accounts; settlement of obligations, liabilities, etc. Even reckoning makes lasting friends, and the way to make reckonings even is to make them often. (south) He quitted london, never to return till the day of a terrible and memorable reckoning had arrived. (Macaulay)
4. (Science: astronomy) The calculation of a ship's position, either from astronomical observations, or from the record of the courses steered and distances sailed as shown by compass and log, in the latter case called dead reckoning (see under Dead); also used fro dead reckoning in contradistinction to observation. The position of a ship as determined by calculation. To be out of her reckoning, to be at a distance from the place indicated by the reckoning; said of a ship.