reckoning \reck"oning\, n.
   1. the act of one who reckons, counts, or computes; the
      result of reckoning or counting; calculation.
      specifically:
      a an account of time. --sandys.
      b adjustment of claims and accounts; settlement of
          obligations, liabilities, etc.
          1913 webster

                even reckoning makes lasting friends, and the
                way to make reckonings even is to make them
                often.                            --south.
          1913 webster

                he quitted london, never to return till the day
                of a terrible and memorable reckoning had
                arrived.                          --macaulay.
          1913 webster

   2. the charge or account made by a host at an inn.
      1913 webster

            a coin would have a nobler use than to pay a
            reckoning.                            --addison.
      1913 webster

   3. esteem; account; estimation.
      1913 webster

            you make no further reckoning of it beauty than of
            an outward fading benefit nature bestowed. --sir p.
                                                  sidney.
      1913 webster

   4. navigation
      a 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 for dead
          reckoning in contradistinction to observation.
      b the position of a ship as determined by calculation.
          1913 webster

   to be out of her reckoning, to be at a distance from the
      place indicated by the reckoning; -- said of a ship.

   day of reckoning the day or time when one must pay one's
      debts, fulfill one's obligations, or be punished for one's
      transgressions.
      1913 webster +pjc
see also:
dead reckoning dead observation to be out of her reckoning day of reckoning