Last updated: August 2026 · Version 1.0
Accrut (Accounting, Billing, Invoicing, Inventory & Banking modules) provides software tools only. We are not a Chartered Accountant, tax consultant, legal advisor, bank, payment aggregator, payment processor, or compliance authority. All GST computations, TDS figures, financial statements, inventory valuations, and statutory obligations must be independently verified by a qualified Chartered Accountant or legal professional before filing with any government authority or relying on them for business decisions. Use of this platform does not constitute legal, financial, tax, or accounting advice of any kind.
Accrut ("we", "us", "our", "the platform") is a business accounting, billing, invoicing, inventory, and banking-reconciliation software product operated independently. Accrut provides software tools only. We do not act as a Chartered Accountant, tax consultant, legal advisor, bank, non-banking financial company (NBFC), payment aggregator/processor, auditor, or company secretary. These terms govern all use of the platform and constitute a binding agreement between Accrut and the customer organisation ("you", "the customer").
The customer organisation is solely and exclusively responsible for compliance with all applicable tax, accounting, company, and commercial laws — including but not limited to the Goods and Services Tax (GST) Acts, Income Tax Act 1961 (including TDS/TCS provisions), Companies Act 2013, Accounting Standards/Ind AS, the Sale of Goods Act, and all applicable state and central laws in India. Accrut is a tool to assist in record-keeping, invoicing, inventory tracking, and bank-statement reconciliation and does not replace the judgement of qualified professionals. Any errors, omissions, miscalculations, or non-compliance arising from data entered by the customer, misconfiguration of the platform, or failure to independently verify platform outputs are solely the responsibility of the customer.
The customer agrees to indemnify, defend, and hold harmless Accrut, its operators, directors, employees, agents, and affiliates from and against any and all claims, demands, penalties, fines, notices, legal costs, damages, or liabilities of any kind arising from: (a) the customer's failure to comply with any applicable tax, accounting, or commercial law; (b) errors or inaccuracies in data entered by the customer or its employees; (c) the customer's reliance on platform outputs (including GST returns, TDS computations, invoices, or financial reports) without independent professional verification; (d) any dispute with a customer, vendor, bank, or government authority arising from the customer's billing, inventory, or accounting practices; or (e) any breach of these terms by the customer.
GST (CGST/SGST/IGST), TDS, invoice totals, inventory valuation, depreciation, and all other computations provided by the platform are indicative only and are based entirely on information entered by the customer. Accrut does not guarantee the accuracy, completeness, or fitness for purpose of any calculation or generated report. The customer remains solely responsible for validating all calculations with a qualified Chartered Accountant before filing GST/TDS returns, issuing statutory invoices, or making any representation to a government authority, auditor, lender, or investor. Accrut shall not be liable for any penalties, interest, notices, prosecutions, or legal consequences arising from reliance on platform outputs without independent professional verification.
The Banking module allows customers to import, view, and reconcile their own bank statement data within the platform for accounting purposes. Accrut is not a bank, is not registered with the Reserve Bank of India as a payment aggregator or NBFC, and does not hold customer funds, initiate payments, or act as an intermediary to any banking transaction unless a specific, separately-disclosed integration says otherwise. Bank statement data displayed in the platform is for internal record-keeping and reconciliation only and must be independently verified against the customer's actual bank records. Accrut is not responsible for any discrepancy, delay, or error in bank data feeds, whether sourced from manual upload, file import, or a third-party banking API.
AI-generated or automated outputs — including invoice/work-order data extraction (OCR), GSTIN disambiguation, bulk-import field mapping, and any auto-generated summaries — may contain inaccuracies, errors, or omissions. AI outputs must not be used as the sole basis for statutory filings, financial statements, payments, or business decisions. All AI-generated or auto-extracted content must be reviewed and verified by a qualified human before use. Accrut accepts no liability for decisions made based on AI-generated or auto-extracted content.
All business, financial, invoicing, inventory, and banking data entered into the platform belongs to the customer organisation. Accrut processes this data solely to provide the accounting, billing, invoicing, inventory, and reconciliation services as instructed by the customer and acts as a data processor under applicable data protection laws. We do not sell, rent, or share customer financial data with third parties for commercial purposes. Data may be disclosed only as strictly required to provide the service, or as required by applicable law or a lawful government order.
We implement industry-standard security measures including encryption of sensitive financial data, row-level security for data isolation between organisations, authentication controls, and audit logging of administrative actions. However, no system is 100% secure. Accrut cannot guarantee absolute security of data transmitted over the internet or stored on third-party infrastructure. The customer is responsible for maintaining the security of their administrator credentials and for promptly reporting any suspected unauthorised access.
Accounting, invoicing, and GST records are retained for the duration of the customer's active subscription and for a minimum period consistent with applicable law — including a minimum of 6 years under GST law and a minimum of 6–8 years under the Income Tax Act, 1961, as applicable to the record type. Upon expiry of mandatory retention periods, data will be securely deleted upon written request. Deletion requests during mandatory retention periods cannot be fulfilled.
To the maximum extent permitted by applicable law, Accrut's total aggregate liability to the customer for any and all claims arising under or in connection with these terms shall not exceed the total fees paid by the customer to Accrut during the twelve (12) months immediately preceding the event giving rise to the claim. Accrut shall not be liable for any indirect, incidental, special, consequential, or punitive damages including but not limited to loss of profits, loss of revenue, loss of data, loss of goodwill, business interruption, or cost of substitute services, even if advised of the possibility of such damages.
The platform is provided "AS IS" and "AS AVAILABLE" without warranty of any kind, express or implied, including but not limited to warranties of merchantability, fitness for a particular purpose, or non-infringement. We do not guarantee uninterrupted service, error-free operation, or specific uptime unless covered by a separate written Service Level Agreement. We reserve the right to suspend or terminate access for illegal activity, fraud, abuse, security threats, non-payment, or any violation of these terms, with or without prior notice depending on the severity of the breach.
Accrut shall not be liable for any failure or delay in performance of its obligations under these terms arising from circumstances beyond its reasonable control, including but not limited to: infrastructure outages, cloud provider failures, internet service disruptions, third-party API unavailability (including banking data feeds), acts of God, natural disasters, epidemics, government actions, changes in law or regulation, civil unrest, or cyberattacks. In such events, Accrut's obligations shall be suspended for the duration of the event.
In the event of a confirmed personal data breach affecting customer data, Accrut will notify the affected customer within 72 hours of becoming aware of the breach, as required under applicable data protection law. The notification will include the nature of the breach, categories of data affected, likely consequences, and measures taken or proposed to address the breach.
Accrut reserves the right to update or modify these terms at any time. Customers will be notified of material changes by email or in-app notification at least 14 days before changes take effect. Continued use of the platform after the effective date of changes constitutes acceptance of the updated terms. If the customer does not agree to updated terms, they may terminate their account before the effective date.
These terms are governed by and construed in accordance with the laws of India. Any dispute arising out of or in connection with these terms shall first be attempted to be resolved through good-faith negotiation. If unresolved within 30 days, disputes shall be referred to binding arbitration under the Arbitration and Conciliation Act, 1996. The seat of arbitration shall be India.
For questions about these terms, data requests, breach notifications, or compliance concerns, contact us at: [insert contact email]. We aim to respond to all enquiries within 5 business days.
This document was last reviewed in August 2026 (Version 1.0). Accrut strongly recommends that all customers consult a qualified Chartered Accountant and legal professional before using any platform outputs for statutory filing purposes. These terms do not constitute legal advice. If any provision of these terms is found to be unenforceable, the remaining provisions shall continue in full force and effect.