Terms of Service and bank agreements

This page is the operator guide to who is bound by what. It is help copy, not a substitute for the EventLedger firm agreement or for your bank’s treasury contract.

There are two separate agreements. Mixing them up is how people start thinking EventLedger sent the money, or that clicking Pay accepted the bank’s terms.

Agreement	Who it is between	Where you accept it
EventLedger firm agreement	The management firm and EventLedger	Settings → Contract
Bank treasury / deposit terms	The client entity (account owner) and the bank. The firm is agent; the Business Manager is the authorized signer	The bank’s portal or paperwork — never inside EventLedger

EventLedger seat billing (Stripe) is a third thing: the firm paying for software. It is not client money.

What EventLedger’s terms mean for money

EventLedger is bookkeeping software. It never holds client funds. It does not operate an FBO, escrow, pooled, or EventLedger-owned settlement account. Money stays in the client’s own bank accounts.

The management firm acts as agent for those clients. The Business Manager (Owner role) is the natural person with signing authority on the client accounts — in EventLedger, in another treasury app, or at a branch.

What that means in the product today:

• Invoice Pay updates the books. It does not send ACH, print a check, or fire a wire. That is true for the Business Manager and for Operations.
• Bank Payments and Bank Deposits code activity on the client’s bank feed. They do not originate a new payment from EventLedger.
• Services Access is a preview of firm policy. Toggling ACH or Wire on does not entitle anyone at the bank and does not let EventLedger send money.

Buttons and screens: How money moves. Roles: Roles.

What your bank’s treasury terms mean

Your bank’s Treasury Management agreement (for example Sunflower Bank’s restated terms) is a contract with the account owner, not with EventLedger the software.

Typical rules:

• The Customer is each client legal entity that owns the account.
• The management company is listed as agent.
• The Business Manager is added as an authorized signer / treasury user on those accounts.
• Product schedules (ACH, wires, bill pay, positive pay, information reporting, commercial cards) and the fee schedule sit with the bank.
• Acceptance happens at the bank. Logging into the bank portal and clicking accept — or continuing to use treasury services after the effective date — binds the Customer. Refusing usually turns those services off.

EventLedger will not show a clickwrap for the bank’s terms, will not accept them on your behalf, and will not treat “I used EventLedger” as bank consent.

If your bank sends a restatement notice (Sunflower’s current restatement is effective 21 September 2026), the Business Manager reviews and accepts it in the bank’s treasury portal and keeps a copy. Clients keep using EventLedger either way. Books, invoices, and coding the feed do not depend on that click.

Dual control (two people, one signer)

Many banks require dual control on payments: one person initiates, a different person approves, then the bank executes.

That does not mean two Business Managers. It means:

1. A person without signing authority prepares the payment (typically the Account Manager).
2. The Business Manager (authorized signer) is the only person who can actually move the money — with the bank’s token / security procedure.

The same human cannot do both steps. Operations clicking Pay in EventLedger today is still books status, not a bank send, and is not signing authority.

If EventLedger later triggers a bank instruction, that is the split we will use: AM initiates, BM sends. Until then, origination happens at the bank (treasury portal or branch). EventLedger records and codes it.

Do not entitle Account Managers or Bookkeepers as payment approvers in the bank portal “for convenience.” Under typical treasury terms, the client entity is liable for what authorized users do.

What EventLedger will not do

• Take custody of client money, or route a vendor payment through an EventLedger balance.
• Treat invoice Pay, Bank Payments, or Services Access as a send.
• Let a non-signer originate a bank payment from EventLedger.
• Proxy-accept your bank’s Treasury Management terms inside the app.
• Use Stripe (firm seats) as a rail for artist or vendor settlement.

If a design would require EventLedger to hold client funds, that is out of bounds. See How money moves.

What you should do

1. Keep using EventLedger for books. Nothing in a bank terms restatement requires clients to stop or migrate.
2. Open Settings → Contract for the EventLedger firm agreement.
3. When the bank asks, accept treasury terms in the bank portal as the Business Manager / authorized signer.
4. Keep staff off the bank as payment approvers. They can work in EventLedger; they should not be the second signer unless you deliberately add a second authorized signer.
5. If someone pays at a branch or in the bank’s own app, code the posted debit on Bank Payments. Do not invent an EventLedger “send” for that.

Questions on who can click which invoice button: Invoice workflow.