Terms & Conditions

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Terms & Conditions

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Last Updated: January 1, 2026

IMPORTANT NOTICE: THESE TERMS CONTAIN IMPORTANT DISCLAIMERS REGARDING AI ACCURACY, LIMITATIONS OF LIABILITY, AND DATA USAGE. PLEASE READ THEM CAREFULLY.


1. NO PROFESSIONAL ADVICE & AI DISCLAIMER


1.1. Not Accounting or Legal Advice. Penny Intelligence Inc. ("Penny," "we," "us") provides a software platform for document collection and data organization. We are not a public accounting firm, law firm, or tax advisory service. The information, categorization, and suggestions provided by our platform are for informational and administrative purposes only and do not constitute professional accounting, tax, or legal advice.


1.2. AI & OCR Accuracy. Our platform utilizes Artificial Intelligence (AI), Machine Learning (ML), and Optical Character Recognition (OCR) technologies to extract data, categorize transactions, and draft communications. While we strive for high accuracy:
- You acknowledge that AI and OCR technologies are not error-free and may produce "hallucinations," incorrect data extractions, or miscategorizations.
- You agree that you are solely responsible for reviewing, verifying, and approving all data, transactions, and communications before they are posted to any accounting software (e.g., QuickBooks Online) or sent to any third party.
- Penny assumes no liability for any errors, omissions, or inaccuracies in the data processed by our AI systems.


2. DATA OWNERSHIP & LICENSE


2.1. Subscriber Ownership. You (the "Subscriber") retain all right, title, and interest in and to the data, files, and information you upload or connect to the Platform ("Subscriber Data"). We do not claim ownership of your financial data or your clients' personal information.


2.2. License to Penny. You grant Penny a worldwide, non-exclusive, royalty-free license to access, use, process, copy, distribute, perform, export, and display Subscriber Data only as reasonably necessary to: (a) Provide, maintain, and update the Service; (b) Prevent or address service, security, support, or technical issues; (c) Comply with legal requirements.


2.3. AI Training & Aggregated Data. You acknowledge and agree that Penny may use anonymized and aggregated Subscriber Data (data that has been de-identified and cannot be used to identify you or your clients) to: (a) Analyze trends and platform usage; (b) Train, tune, and improve our AI and Machine Learning models (e.g., "Smart Categorization" algorithms); (c) Develop new features and services. Penny retains all ownership rights in such anonymized and aggregated data and the improved AI models.


3. DATA RETENTION & DELETION


3.1. Retention During Subscription (Audit-Ready Archive). We retain Subscriber Data for as long as your account is active. To support your compliance with tax authority requirements, Penny maintains an "Audit-Ready Archive" of your data for a minimum of seven (7) years from the date of upload, aligning with the record-keeping recommendations of the Canada Revenue Agency (CRA) (6 years) and the Internal Revenue Service (IRS) (up to 7 years).


3.2. Retention After Cancellation. Upon cancellation or termination of your account, Penny will retain your Subscriber Data for a grace period of thirty (30) days to allow you to reactivate your account or export your data. AFTER 30 DAYS, YOUR DATA MAY BE PERMANENTLY DELETED FROM OUR SYSTEMS. It is your sole responsibility to export any required data (including receipts and transaction logs) before this 30-day period expires.


3.3. Deletion Requests. You may request immediate deletion of your data by contacting support@pennythebookkeeper.com. We will process such requests in accordance with applicable laws (including PIPEDA). Note that some data may remain in our secure backups for a limited period until overwritten.


4. THIRD-PARTY INTEGRATIONS


4.1. QuickBooks Online & Gmail. Our Service integrates with third-party applications, including Intuit QuickBooks Online and Google Gmail.
- Your use of these integrations is subject to the respective terms and privacy policies of Intuit and Google.
- We do not store your banking credentials. All connections are maintained via secure OAuth tokens.
- Penny is not responsible for any downtime, data loss, or issues arising from the unavailability or malfunction of these third-party APIs.


5. COMMUNICATIONS AND END-CLIENTS


5.1. Automated Emails. The Platform sends automated emails to your clients ("End-Clients") on your behalf. You represent and warrant that: (a) You have obtained all necessary consents from your End-Clients to send them commercial electronic messages, in compliance with Canada's Anti-Spam Legislation (CASL) and other applicable laws. (b) You are solely responsible for the content, tone, and frequency of these communications.


6. LIMITATION OF LIABILITY


6.1. Cap on Liability. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL PENNY INTELLIGENCE INC.'S AGGREGATE LIABILITY ARISING OUT OF OR RELATED TO THIS AGREEMENT, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE), OR OTHERWISE, EXCEED THE TOTAL AMOUNT PAID BY YOU TO PENNY FOR THE SERVICE IN THE SIX (6) MONTHS PRECEDING THE INCIDENT GIVING RISE TO THE CLAIM, OR ONE HUNDRED CANADIAN DOLLARS ($100 CAD), WHICHEVER IS GREATER.


6.2. Exclusion of Consequential Damages. IN NO EVENT SHALL PENNY BE LIABLE FOR ANY INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES, EVEN IF PENNY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.


6.3. No Liability for Fines or Audits. Penny specifically disclaims any liability for tax penalties, interest, audit fees, or missed filing deadlines resulting from your use of the Service. You remain solely responsible for ensuring the accuracy and timeliness of your financial records and tax filings.


7. GOVERNING LAW


7.1. Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein, without regard to its conflict of law provisions.


7.2. Dispute Resolution. Any dispute arising under this Agreement shall be resolved exclusively by the courts located in Toronto, Ontario.