Terms of Service

These Terms of Service ("Terms") form a binding agreement between you ("Customer," "you") and WEBIT Services, Inc., an Illinois corporation ("WEBIT Services," "PennyCFO," "we," "us"), governing your access to and use of the PennyCFO virtual CFO platform, including our website, web application, and any related services (collectively, the "Service").

By creating an account, clicking "I agree," or otherwise accessing or using the Service, you accept these Terms on behalf of yourself and, if applicable, the business entity you represent. If you do not agree, do not use the Service.

PennyCFO is a subscription-based software platform that aggregates a Customer's financial data — including data synced from connected third-party accounting platforms such as QuickBooks Online — and presents it through dashboards, forecasts, and an AI-driven advisory chat feature ("Penny").

Penny is not a substitute for professional advice. Penny's outputs are generated by an AI model and are provided for informational purposes only. They do not constitute financial, accounting, tax, legal, or investment advice, and should not be relied upon as such. You remain solely responsible for reviewing, verifying, and acting on any information the Service provides, and we recommend consulting a licensed professional (CPA, attorney, or financial advisor) before making material business decisions.

You must provide accurate, current information when registering and keep it up to date. You are responsible for safeguarding your login credentials and for all activity under your account. You must promptly notify us of any unauthorized use.

The Service is intended for use by businesses and their authorized representatives. By using the Service on behalf of a company, you represent that you are authorized to bind that company to these Terms and to connect its financial accounts to the Service.

The Service allows you to connect third-party accounting platforms, such as QuickBooks Online, via those providers' own authentication process (OAuth). By connecting a third-party account, you authorize us to access and periodically sync data from that account — including your chart of accounts, transactions, and financial reports — for as long as the connection remains active.

You are solely responsible for the accuracy of the data in your connected accounting platform and for the permissions you grant. We are not responsible for the availability, accuracy, or conduct of third-party platforms, which are governed by their own terms and privacy policies. Disconnecting a third-party integration stops future syncing; see our Privacy Policy for how previously synced data is retained or deleted.

Paid plans are billed in advance on a recurring basis (monthly or annually, as selected at checkout) at the rates described on our pricing page or in your order form. Fees are non-refundable except as required by law or as expressly stated at the time of purchase.

We may change our fees or plans on prospective notice of at least 30 days. Continued use of the Service after a fee change takes effect constitutes acceptance of the new fee. You may cancel a subscription at any time in Settings; cancellation takes effect at the end of the then-current billing period.

As between you and us, you (or your company) own all financial data, files, and content you upload or connect to the Service ("Customer Data"). You grant us a limited, non-exclusive license to host, process, transmit, and display Customer Data solely to provide, maintain, and improve the Service for you, and as otherwise described in our Privacy Policy.

We do not sell Customer Data, and we do not use Customer Data to train third-party AI models. Identifying details (such as your company name, address, phone number, or tax identification numbers) are never included in the data sent to our AI provider — see the Responsible AI & Privacy page for details on how Penny processes your data.

You agree not to:

• Use the Service to process data you do not have the right to share with us;
• Attempt to reverse engineer, decompile, or access the Service's source code;
• Interfere with or disrupt the integrity or performance of the Service;
• Attempt to gain unauthorized access to another Customer's account or data;
• Use the Service to build a competing product; or
• Use the Service in violation of applicable law.

The Service, including its software, design, and the "Penny" name and branding, is owned by WEBIT Services, Inc. and protected by intellectual property laws. Except for the limited right to use the Service under these Terms, no rights are granted to you in our intellectual property.

Each party will protect the other's non-public information disclosed in connection with the Service using the same degree of care it uses for its own confidential information of similar importance, and no less than a reasonable degree of care. This section does not limit either party's obligations under the Privacy Policy with respect to personal data.

The service is provided "as is" and "as available," without warranties of any kind, whether express, implied, or statutory, including implied warranties of merchantability, fitness for a particular purpose, and non-infringement. We do not warrant that the service will be uninterrupted, error-free, or that AI-generated outputs will be accurate or complete.

To the maximum extent permitted by law, WEBIT Services will not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits, revenue, or data, arising from your use of the service. WEBIT Services' total liability arising out of or relating to these terms or the service will not exceed the amount you paid us in the twelve (12) months preceding the claim.

You agree to indemnify and hold WEBIT Services harmless from any claims, damages, or expenses (including reasonable attorneys' fees) arising from your breach of these Terms, your Customer Data, or your violation of applicable law.

These Terms remain in effect while you use the Service. We may suspend or terminate your access if you materially breach these Terms and do not cure the breach within 15 days of notice, or immediately if necessary to prevent harm to the Service or other users.

Upon termination, your right to use the Service ends. We will handle Customer Data on termination as described in our Privacy Policy.

These Terms are governed by the laws of the State of Illinois, without regard to its conflict-of-laws principles. Any dispute arising out of or relating to these Terms or the Service will be brought exclusively in the state or federal courts located in Illinois, and each party consents to the personal jurisdiction of those courts.

We may update these Terms from time to time. If we make material changes, we will notify you by email or through the Service before the changes take effect. Continued use of the Service after the effective date of an update constitutes acceptance of the revised Terms.

These Terms, together with our Privacy Policy, constitute the entire agreement between you and WEBIT Services regarding the Service. If any provision is found unenforceable, the remaining provisions remain in full effect. You may not assign these Terms without our written consent. Our failure to enforce any right is not a waiver of that right.

Questions about these Terms? Email us at privacy@pennycfo.ai.