Terms of Service

Updated on the 1st of March, 2023

Updated on the 1st of March, 2023 1. TERMS OF USE 2. APPLICABLE LAW 3. PERMISSION 4. WARRANTIES/LIABILITIES 5. PROPRIETARY RIGHTS 6. OUR LIABILITIES AND RESPONSIBILITIES 7. ABOUT US 7.1. REGISTRATION 8. DASHBOARD/OVERVIEW 9. RECORDS 9.1 SALES RECORD ( INFLOW)9.1.1 Add Customer 9.1.2 Add Evidence File 9.1.3 Add Bank 9.2 EXPENSE 9.2.1 Add Item 9.2.2 Add Vendor 9.2.3 Add Evidence File 9.2.4 Add Bank 10. INVOICE 11. RECEIPTS 10. FINANCIAL REPORTS 10.1 Balance sheet 10.2 Trial Balance 10.3 Statement of Profit and Loss 10.4 Statement of Cash Flow 10.5 Sales Tax Summary 10.6 Financial Forecast 11. CONTACTS 12. INVENTORY 13. CHART OF ACCOUNT.14. MANAGING BANKS 15. PAYMENT 16. PRICING MODEL 17. MODIFICATIONS 18. SERVICES 19. END OF SERVICE 20. INDEMNIFICATION 21. DISCLAIMERS 22. Frequently asked Questions (FAQ)

1. TERMS OF USE

The terms of service set forth hereunder is a legally binding Agreement between us AjoPay Financial Technology Limited also referred to as “Tyms Africa ''. Tyms Book is a Tyms Africa flagship product which is an automated financial management software for businesses of all sizes.

This Terms of Service details Tyms Book’s obligations to you. It also highlights the benefits of using our Services and you must consider such carefully as you will be bound by the provisions of this agreement through your use of this mobile App or web App or any of our services.

The access to and use of this Platform (Website and App) implies that the user has read and accepted our Terms of Use. If you disagree with any part hereof, do not access the Platform.

2. APPLICABLE LAW

These Terms of Use shall be interpreted and governed by the laws currently in force in the Federal Republic of Nigeria. Also, all disputes arising from this Agreement shall be governed by and construed in accordance with Nigerian law and other international laws if need be. Any dispute arising out of or relating to this agreement, including any question regarding its existence, validity, contractual obligation or termination by the Parties, shall be settled through amicable informal and formal discussions between the Parties.

We each undertake to the other that we will comply fully with all applicable legal obligations and all applicable statutes, laws, regulations, directives or requirements made by any governmental authority or equivalent body of competent jurisdiction.

3. PERMISSION

Permission is thereby granted to download one copy of the materials (information or software) on Tyms Book’s website for personal, non-commercial, commercial transitory viewing and usage only. This is the grant of a license, not a transfer of title, and under this license you may not: modify or copy the materials; attempt to decompile or reverse any software contained on Tyms Book’s website; remove any copyright or other proprietary notations from the materials; or transfer the materials to another person or “mirror” the materials on any other server.

4. WARRANTIES/LIABILITIES

It should be noted that in no event shall Tyms Book or its employees be liable for any damages (including without limitation,damage for loss of data or profit, or due to business interruption) arising out of the use or inability to use the materials on Tyms Book. The following holds under this agreement.

You may not assign, license or transfer any of your obligations under these Terms to any third party.

We may freely assign our rights and obligations under these Terms.

The enforceability or otherwise of any clause, sub-clause or provision of these Terms shall not affect in any way the enforceability of the remainder of these Terms.

A person who is not a party to this agreement has no right to enforce any of these Terms but this does not affect any remedy to be done.

Tyms Book warrants that, for the duration of your use of the Services, the application is up to date and valid. We also reserve the right to suspend our Services at any time if we find that the use of this app breaches the warranty in these terms written.

NOTE: We do not warrant that your use of the Services will be uninterrupted or error-free; or that the Services or the information obtained by you through the Services will meet your requirements. It therefore holds that the use of the Services is not intended to amount to financial or accounting advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the information obtained by you through the Services.

5. PROPRIETARY RIGHTS

All intellectual property rights in the Tyms Book Services throughout the world belong to us and the rights in the Services are licensed (not sold) to you. You have no intellectual property rights in, or to, the Services other than the right to use them in accordance with these terms. The user is therefore encouraged to keep a secure and confidential password for his access to the services within the confines of the license given.

6. OUR LIABILITIES AND RESPONSIBILITIES

We shall provide the Services with reasonable skill and care. However, we shall not be responsible for any failure to deliver the Services resulting from factors outside of our control, or any failure on your part to maintain an online connection between your systems and ours, or provide us with accurate information as reasonably requested by us to perform our Services.

7. ABOUT US

Our mission for Tyms Book is to drive dynamic accounting software globally and enable access to a wide range of tools and services to stay ahead when you register with us.

Tyms Book aims at handling accounting and bookkeeping and this includes storing financial data and performing business transactions. It’s a time-saving solution that eliminates redundant data entry. Below are the advantages of this app

It automates redundant tasks

It helps with taxes

It provides digital invoices

It helps in creating receipts

It oversees cash flow

It enables wide accessibility

It prepares Financial books for you

7.1. REGISTRATION

To use Tyms Book, you have to create an account by signing up and to complete this process you would also have to provide us with certain information that personally identifies you. Signing up is done with an email and phone number connected to your whatsapp and then an OTP is sent. Later in the profile page, information such as your email, first name, last name, phone number, and a picture of your logo is required. These details upon verification would give you access to our platform. Note that you are required to select your country of residence.

In maximizing the total use of this app, the profile is divided into two forms; The personal profile and the Business profile. In these profiles names, address, tags, passwords, business socials,website, phone number are required to effectively customize each profile.

It is very important for users to input correct details of their information so that they can fully enjoy Tyms Book services and products. Note that you give express permission to all these by filling in your details on the mobile App. You also have the right to refuse to authorize the use and/or disclosure of your Personal Information. However, if you choose to exercise this right, you may not be able to utilize some features of the Services we provide.

8. DASHBOARD/OVERVIEW

Upon registration, the dashboard is customized to the name of the brand or individual registered. This is to show and identify the financials of who and what would be processed on the app. One of the major advantages of Tyms Book is that it holds information and financials of up to three years. With this, users have easy access to the previous years.

Also on the dashboard, there is a summary of Total inflow, outflow, gross profit and loss of cash. This is represented in figures and in graphical form. The graphical form allows you to link and compare data from various time periods.

The totaling of these figures is to give a first hand summary on the financials of the user before even delving deep into the app. These also are represented in graphical illustrations. Using these metrics, the user can gain a clear understanding of the financial state of the business and also compare these metrics to previous quarters to understand how the metrics are trending over time.

9. RECORDS

After recording items in both inflow or outflow, the user can then manage the transactions as all are covered in the “Sales Record” tab. The aim of the record is to keep accurate balance forward records from year to year and also to compare and reconcile your inventory balances for different fiscal periods. With this feature the user can also access information about an item's quantity and cost at any time.

Also, a user can record either through the record or contact feature

9.1 SALES RECORD ( INFLOW)

Sales Record describes all of the income that is brought to your business through its activities. This can either be from proceeds from sales of goods or services or Returns on investments. To record inflow of cash on the app, the user can either record manually or import the sales record.

To get a result, an item needs to be added for record purposes and to create a narration for the item.

When adding an item, the user must indicate the type of service, the product name, the unit, the quantity as well as the cost and selling price. This feature details the amount paid, the payment due date and also the record date. The app automatically calculates the total amount imputed and also gives a total balance of the items filled. In turn, you can choose to generate an invoice for the record.

This feature also gives room for detailing such as:

9.1.1 Add Customer

For better record purposes and also for the generation of a well detailed invoice, the user is to provide the information of the customer or person involved in the transaction. In doing this the “Add Customer” tab enables information such as the customer name, email, phone number and home address to be imputed and saved. Subsequently the system gives suggestions on the names you intend to add and this is so because you already have a database of saved customers on the app.

9.1.2 Add Evidence File

In record keeping, the importance of receipts can not be overemphasized. Receipts act as a log, allowing you to keep track of additional information in a given transaction. Tyms Book here aims to back up the user’s transaction with evidential receipts. In clicking this tab, the user can upload the image either by allowing Tyms Book access into the photo gallery or by taking the picture directly.

9.1.3 Add Bank

The user is also expected to record the receiving bank account for a certain record. This is done using the “add bank” tab. Here the user can either provide the information of the business or a personal bank account. This will aid the tracking of funds received.

NOTE: A user can add payment and also update payment within the app. This implies that when a customer has an outstanding balance, the balance when paid can be updated on the app. All you need to do is search for the customer and click on the “Add payment’ button.

9.2 EXPENSE

Record outflow refers to all of the expenses paid out by your business. This includes any debts, liabilities, and operating costs or any amount of funds leaving your business.

Tyms Book provides the avenue to input inventories of the above in order to have a balanced financial report.

Tyms Book enables a user to add expenses manually or by importing receipts. The App has the capacity to capture receipts and automatically enables the software to automatically extract relevant information, record the items, and populate your accounting software.

Upon the addition of items, the following details are required:

9.2.1 Add Item

When adding an item, the user must indicate the type of service, the product name, the unit, the quantity as well as the cost and selling price.

This feature details the amount paid, the payment due date and also the record date. The app automatically calculates the total amount imputed and also gives a total balance of the items filled.

9.2.2 Add Vendor

For better record purposes the user is to provide the information of the vendor involved in the transaction. In doing this the “Add Vendor” tab enables information such as the Business name,Contact name email, phone number and Business address to be imputed and saved.

9.2.3 Add Evidence File

In record keeping, the importance of receipts can not be overemphasized. Receipts act as a log, allowing you to keep track of additional information in a given transaction. TymsBook here aims to back up the user’s transaction with evidential receipts. In clicking this tab, the user can upload the image either by allowing TymsBook access into the photo gallery or by taking the picture directly.

9.2.4 Add Bank

The user is also expected to record the originating bank account for a certain record. This is the bank from where the cash is going out. This is done using the “add bank” tab. Here the user can either provide the information of the business or a personal bank account. This will aid the tracking of funds sent.

10. INVOICE

An invoice is a financial document issued to a buyer containing details such as the quantities of goods or services purchased or patronized, the cost of purchase, date and in most cases, the payment terms. To generate an invoice on Tyms Book, the user must have inputted an item with the other details as required. So far the user has filled in the business details in the profile section, the invoice is customized to carry the business name, logo and business colors.

The Invoice details the invoice number, the amount paid and the outstanding amount if there is.

11. RECEIPTS

Receipts can also be generated on Tyms Book as they confirm that the money was received by the seller from the customer. This further helps to show transparency and track all monies that go into the business. To create or generate a receipt, the user adds an item from the number of items recorded in inventory.

10. FINANCIAL REPORTS

Financial reports are periodic statements that present the financial status of a company at a certain point in time, or over a stated period. After the inputting of inflows and outflows, Tyms Book aims at curating the following:

10.1 Balance sheet

The main purpose of the Balance sheet is to explain vividly the business’s financial position at a particular point in time by showing the details of the assets of the business along with its liabilities and owner’s capital.

10.2 Trial Balance

The purpose of a trial balance is to ensure that all entries made into a business's general ledger are properly balanced. Here, Tyms Book lists the ending balance in each general ledger account. And here the total amount of the debits and credits in each accounting entry are supposed to match.

10.3 Statement of Profit and Loss

A profit and loss statement is a type of financial report that businesses put together. It includes expenses, revenues, profits and losses over a specific period of time. This statement can also commonly get referred to as a statement of operations or an income statement.

This feature breaks down and gives an overall picture of how well your business is able to generate sales. As well, it provides insights into your overall ability to create more profits and manage all of your expenses. With Tyms Book’s profit and loss statement the user gets illustrations on how the business has performed over a specific time period

10.4 Statement of Cash Flow

The cash flow statement is important because it is used to measure the cash position of the business, i.e., the inflow and outflow of cash and cash equivalents in the business for an accounting year, and it also helps the business to know the availability of cash in their business. Tyms Book thus helps to holistically show the cash position of the company

10.5 Sales Tax Summary

The sales tax summary report can help you identify any delinquent transactions that affect your sales tax reporting and also help your tax preparer file your returns. The Tax Summary Report gives you a breakdown of the value of the sales tax you have collected, along with how much you have paid taxes on Expenses.

10.6 Financial Forecast

Forecasting is determining what is going to happen in the future by analyzing what happened in the past and what is happening now. It’s a planning tool that helps businesses adapt to uncertainty based on predicted demand for goods or services.

Tyms Book uses this feature to estimate the projected income and projected expenses of the business as this is an important part of the business planning process because it helps inform decision-making.

11. CONTACTS

Tyms Book also features a record of vendors and customers where the user can input the details which includes;names, emails, phone numbers and home or business address. With this, users can also see the customer count, the amount of debtors and the total amount of debits and credits by the customers.

12. INVENTORY

Here you can add items and keep inventory and track of the number of goods left in stock in your business. In this feature, items are added by naming the product,filing the number of units and stock available as well as the imputation of the cost and selling price. This in turn gives the total worth of estimated profit and also the total worth of stock left.

13. CHART OF ACCOUNT.

These are the various categories where transactions fall into. On this tab, users categorically pick the Account type and subtype of transactions they have made. It should be noted that without these categories financial statements can not be generated correctly. This means that every action recorded on the Tyms Book is seen here and correctly categorized.

14. MANAGING BANKS

Tyms Book allows a user to manage several banks. Here, a user can connect several banks and manage the accounts on the platform. The feature streamlines all the business transactions and enables user to see them altogether on the platform

15. PAYMENT

The user shall pay the Subscription Fees for each Subscription Period and all payments will be made through third-party payment providers.The user will find details of their accepted payment methods on the relevant third-party payment providers’ payment page.

Subject to the user paying the subscription fees in accordance with the provision of these terms, we hereby grant the user a non-exclusive, non-transferable right to use the services during the subscription periods. We therefore reserve the right to suspend and disable access to our Services if the user fails to pay any Subscription Fees.

16. PRICING MODEL

Tyms Book is tailor made to offer and help businesses streamline their operations according to their needs. By this, it follows a specific pricing model and this determines what the customers/clients will have access to. This pricing model is designed to align with the value and features provided by the software.

Note that each pricing model is based on the number of users who will be accessing the software, number of transactions, data storage, streamlined operations and also the features to be accessible. Payments can either be made monthly or annually. Below are the different pricing models:

Region	Type of plan	Monthly Price	Annual Price
Nigeria	Essential	₦2,500	₦25,000
ㅤ	Premium	₦6,000	₦60,000
ㅤ	Advanced	₦12,000	₦120,000
ㅤ	ㅤ	ㅤ	ㅤ
Ghana	Essential	GHC 50	GHC 500
ㅤ	Premium	GHC 150	GHC 1500
ㅤ	Advanced	GHC 300	GHC 3000
ㅤ	ㅤ	ㅤ	ㅤ
International	Essential	$6	$60
ㅤ	Premium	$12	$120
ㅤ	Advanced	$24	$240

Kindly Note that this pricing is not specific to a group of businesses. Thus, each business can opt for any model found suitable for its operations. Also, note that these prices are subject to change and you will be notified 60 days in advance of the price change.

17. MODIFICATIONS

Tyms Book may revise the terms of service at any time without notice. By using this website you are agreeing to be bound by the then version of these terms and service.

18. SERVICES

We shall provide the services to you on and subject to these terms. We will use commercially reasonable endeavors to make the services available at all times. If for any reason we need to interrupt the services for exceptional, unscheduled maintenance, we will use reasonable methods to publish advance notice of such interruption on our website.

19. END OF SERVICE

The User may terminate our Services at any time by closing the account or reaching us at contact@tyms.africa. The user’s subscription to the Services will terminate at the end of the Subscription Period in which notice is received by us.

20. INDEMNIFICATION

The User undertakes to indemnify Tyms Book, its Shareholders and Partners, against and for any loss, claims, expenses (including legal costs and attorney fees) caused by your default to our terms and conditions or any other damage that may be caused by your misuse of the Website/Application.

21. DISCLAIMERS

Your use of Tyms Book’s products and services on its website/Application, and the data supplied to us is at your sole discretion. Tyms Book’s website and all content therein are provided to you as they become available and are not subject to any warranties or quality assurance.

Tyms Book expressly disclaims all warranties of any kind, relating to its website, content and/or user information, including the warranty of title, User Ability, fitness for a particular purpose, non-infringement of proprietary rights and course of performance

As it relates to its website or products and services, Tyms Book disclaims all Liabilities regarding the availability, security, accuracy, reliability, timeliness and performance of its website, content and user information. Tyms Book also disclaims that its website will be error-free and free from electronic viruses.

If a provision of This Agreement is determined by any court or other competent authority to be unlawful and/or unenforceable, the other provisions will continue in effect.

22. Frequently asked Questions (FAQ)

Here are some questions that may bother your mind.

Is the information collected through the Tyms Book Service secure?

We take precautions to protect the security of your information. We have physical, electronic, and managerial procedures to help safeguard, prevent unauthorized access, maintain data security, and correctly use your information. However, neither people nor security systems are foolproof, including encryption systems. In addition, people can commit intentional crimes, make mistakes or fail to follow policies. Therefore, while we use reasonable efforts to protect your personal information, we cannot guarantee its absolute security. If applicable law imposes any non-disclaimable duty to protect your personal information, you agree that intentional misconduct will be the standards used to measure our compliance with that duty.

Can I update or correct my information?

If you are a Tyms Book user, we collect information you voluntarily provide to us. We use the information collected for Human Resources purposes in order to administer benefits to you.

You may contact us in order to update or correct your information, change your preferences with respect to communications and other information you receive from us, or receive a record of the information we have relating to you. Such updates, corrections, changes and deletions will have no effect on other information that we maintain, or information that we have provided to third parties in accordance with this Privacy Policy prior to such update, correction, change or deletion.

Note that while we continually strive to ensure that our systems and controls are updated to reflect technological changes, you as a user should also help us to keep your information secure by ensuring that any user name or password in relation to our online services is kept strictly confidential to you and not be made available to any other person. When a foul play is noticed on your account you should stop using the account and notify us immediately.

Also, if you communicate with us using a non-secure mechanism, you assume the risks that such communications between us are intercepted, not received, delayed, corrupted or are received by persons other than the intended recipient.

Tyms Book Terms of Service