Sewell Labs
Terms of Service
Effective Date: July 7, 2026
Applies to Folio, a product of Sewell Labs
These Terms of Service (“Terms”) govern your access to and use of Folio, the accounting platform offered by Sewell Labs. Sewell Labs may offer other products in the future, each governed by its own separate terms made available at the time that product is offered. These Terms apply only to Folio.
1. Acceptance of Terms
By creating an account or using Folio, you agree to be bound by these Terms. If you are using Folio on behalf of a business or organization, you represent that you have authority to bind that entity.
2. Description of Service
Folio is a multi-entity accounting platform providing transaction processing (via TruePost), receipt capture (TrueReceipt), invoicing, billing, inventory management, budgeting, financial reporting, document storage (Folio Vault), and related features, as described in Folio's product documentation, for both enterprise and personal workspace use.
3. Accounts and Eligibility
You must be at least 18 years old to use Folio. You are responsible for maintaining the confidentiality of your account credentials and for all activity under your account. You are responsible for the accuracy of data you enter or upload into Folio.
4. Subscription and Fees
Folio is offered under subscription plans described at https://sewelllabs.com/pricing. Fees are billed in advance on a recurring basis unless otherwise stated. Fees are non-refundable except as required by law or explicitly stated otherwise. We may change pricing with advance notice; continued use after a price change constitutes acceptance.
5. No Professional Advice
Folio is accounting software, not a substitute for professional tax, legal, or accounting advice. Real-time financial reports (Profit & Loss, Balance Sheet, Trial Balance, Cash Flow) are provided on an unaudited basis. You are responsible for reviewing and verifying financial data and for consulting qualified professionals as needed.
6. Data Accuracy and TruePost
While TruePost is designed to detect duplicates and enforce balanced, auditable entries, Folio does not guarantee the accuracy of automatically extracted or categorized data (including via Natural Language Entry or TrueReceipt). You are responsible for reviewing and confirming transactions before they post.
7. Sub-Users, Accountants, and Shared Access
Folio supports two categories of invited users in addition to the account owner. Sub-Users: individuals invited by an account owner to assist with data entry. Sub-users do not have access to account settings, threshold configuration, or transaction approval. An account owner may grant a sub-user access to one or more of their own workspaces. Accountants: individuals who may be invited by multiple, unrelated account owners. An account owner controls an Accountant's access on a per-workspace basis and may grant or revoke that access to any of their workspaces at any time, independent of the Accountant's relationship with any other account owner. Each individual accessing your workspace must have their own login. Sharing your login credentials with any other person — including sub-users, accountants, bookkeepers, staff, or any third party — is strictly prohibited. When credentials are shared, Folio cannot distinguish actions taken by the account owner from actions taken by the person using shared credentials, and all such activity will be treated as performed by the account owner. Because an Accountant may hold access across multiple unrelated workspaces, sharing of Accountant-role credentials carries heightened risk and is prohibited without exception. You are fully responsible for all activity occurring under your account, including activity resulting from credentials shared in violation of this section, and including activity taken by any sub-user or Accountant you invite. You are responsible for setting appropriate access levels for each invited individual and for promptly revoking access when it is no longer needed. We reserve the right to suspend or terminate accounts, or an individual's access, where credential sharing is detected.
8. Acceptable Use
You agree not to: Use Folio for unlawful purposes, including fraud or money laundering. Attempt to reverse-engineer, disrupt, or gain unauthorized access to Folio's systems. Upload data you do not have the right to use or share.
9. Intellectual Property
Folio, TruePost, TrueReceipt, Folio Vault, Folio Companion, Folio Draft, and related marks are proprietary to Sewell Labs. These Terms do not grant you any ownership rights in the platform.
10. Termination
We may suspend or terminate your account for violation of these Terms. You may cancel your subscription at any time in accordance with the cancellation process described in your account settings.
11. Limitation of Liability
To the maximum extent permitted by law, Sewell Labs is not liable for indirect, incidental, or consequential damages arising from use of Folio, including errors in financial reporting, data loss, or reliance on unaudited reports.
12. Disclaimer of Warranties
Folio is provided "as is" without warranties of any kind, express or implied, including merchantability, fitness for a particular purpose, and non-infringement.
13. Governing Law
These Terms are governed by the laws of Texas, without regard to conflict of law principles.
14. Changes to These Terms
We may update these Terms from time to time. Continued use of Folio after changes take effect constitutes acceptance.
15. Contact Us
Sewell Labs, legal@sewelllabs.com.
These Terms apply solely to Folio. Future Sewell Labs products will have their own dedicated Terms of Service.