Lightyear Product Specific Terms 

Lightyear is an accounts payable and ordering solution that facilitates goods and services ordering, extracts data from bills and other documents, and can input this data into your accounting, ERP, or inventory system 

Definitions:

The following additional definitions apply: 

Financial Documents includes bills, credit notes, receipts, statements, purchase orders, and expense reports 

 

1. Free Trial 

1.1 Upon signing up online, You are provided with a free trial which ends within 30 days or when You have consumed 250 credits (whichever comes first). You must choose and pay for a subscription plan to continue using Our services at the end of the free trial. 

 

2. Registration of Companies on Lightyear 

2.1 By creating a Lightyear account for any company, You represent and warrant that You have full authority to bind that company to these Product-Specific Terms and our Access Terms and Conditions. If You are an accountant or other professional creating accounts on behalf of clients, You remain responsible for obtaining appropriate authorisation. 

 

3. Data Extraction Technology 

3.1 We use Data Extraction Technology to analyse the information within Financial Documents.  The technology consists of algorithms, AI, and machine-learning technology. This includes features known as Maps and Smart Extract. You acknowledge that the output of the Data Extraction Technology may not accurately represent Your financial documents.  

 

4. Pricing Plans 

4.1 You are charged for the processing of Financial Documents (which includes the export, import, archive – manual or automatic – or creation of a Financial Document), where You consume credits in accordance with the table below:  

Processing of Financial Documents	Credit
Bill Export or Archive	1
Credit Note Export or Archive	1
Receipt Export or Archive	1
Statement Filing	1
Purchase Order Creation	1
Expense Report Export	3

4.2 You choose the number of credits and the type of plan.  

 

4.3 Monthly Plans 

4.3.1. You will be charged on a monthly basis and entered into a monthly billing cycle. You will also be given the option to opt into the Lightyear Overage Policy.  

4.3.2. At the end of each monthly billing cycle, any unused credits expire. You will be charged the same amount for the following month, unless You choose to increase or decrease your Monthly Plan size.  

4.3.3.Any changes to the size of the Monthly Plan will take effect either immediately, or at the start of your new monthly billing cycle. You will be given the choice to choose when at the time You change your Monthly Plan size.  

4.3.4 You may cancel your Monthly Plan at any time through the Lightyear application. Cancellation will take effect at the end of your current monthly billing cycle. No refunds are provided for any unused credits.  

 

4.4. Bulk Buy Plans  

4.4.1 You will be charged a one-off payment for a number of credits. The credits will expire 6 months from date of Your purchase. 

4.4.2 Bulk Buy Plans cannot be cancelled, and refunds are not available as they are one-time purchases. If You have unused credits at the time of purchase of a new Bulk Buy Plan, We will carry those unused credits over, and the expiration date of the new Bulk Buy Plan will apply. 

 

5. Lightyear Overage Policy 

5.1 Our Overage Policy is designed to make life easier when You need to process more Financial Documents than Your Monthly Plan allows. If Your monthly overage credit is 30% or more higher than your Month Plan size for two consecutive months, You must move to a larger plan size.  

5.2 If You have opted into the Lightyear Overage Policy, and You exceed the number of credits within your Monthly Plan, You will be presented with three options: 

Option 1: Continue processing financial documents, where We bill You an additional charge at the start of your next monthly billing cycle in accordance with the credits consumed;  

Option 2: Upgrade to a larger Monthly Plan size 

Option 3: Wait until your next monthly billing cycle before you can process more Financial Documents  

5.3 If you have not opted into the Lightyear Overage Policy, You will only be presented with Option 2 and Option 3.  

 

6. Parent and Child Structure 

6.1 Our Services provide for two types of accounts: Parent accounts and Child accounts. A Parent account may have no Child accounts, and we refer to these accounts as Standalones.  

6.2 A Parent account has the ability to create and manage accounts, known as Child accounts. You will have the option to create a Parent account when You sign up.  

6.3 When creating a Child account, You must have authorisation from the directors of the company associated with the Child account.  

6.4 A Child account is linked to the Parent account. To sever the linkage, both administrators of the Child account and the Parent account must jointly instruct Us to sever the relationship within one email thread, where both administrators have mutually consented to the severance.  

6.5 The Parent account is responsible for purchasing credits so that Your Child accounts can continue to use Our Services. If the Parent account fails to do so, and the Child accounts have been unable to export Financial Documents for 21 days, We may sever the Parent/ Child relationship, creating a Standalone account for the Child account. 

 

7. Support 

7.1 Support is provided by email at [email protected] and in accordance with the Lightyear SLA available here: https://help-lightyear.theaccessgroup.com/en/articles/11365252-lightyear-support-service-level-agreement-s-sla-s

 

8. Document Storage 

8.1 We will store Your Financial Documents, supplier statements, and, where applicable, attachments to these documents, for a period of 8 years from the document date, where those documents were created, exported, manually archived, or filed, and the processing of the document consumed paid credits.  

8.2 After 8 years, these documents may be deleted and will no longer be available to you. Any hyperlinks that point back to those documents may also point to nothing. 

8.3 Except as otherwise expressly stated, We will not store any Financial Documents uploaded, exported, archived or filed by You during Your free trial.