The Bond Services

30/06/2025

Academic activities are winding down in most schools and this could happen to you if you are an educator or a school manager.

Chances are that most schools are still running on the paper based model running academic institutions. This by itself introduces limits in the way you run your operations as a school - If you have numbers, you will not be able to quickly establish proper communication with your stakeholders (parents, teachers etc.)

Now, imagine you have a wide array and categories of parents because your numbers are great. Do you still send students academic performances via courier or delivery systems? Or have you asked these questions, why does it take your school many days for academic performance report to be out after assessment examinations have been concluded? Why do parents complain so much about the report when it is finally available? Why is the school not sure of its academic standing in relation to other forward thinking academic institutions? Why is the school continuously having issues of fraud and finding it difficult to track its income despite having professional accountants?

If you cannot answer the questions highlighted above, you need to inquire about our Management Software that seamlessly provides all these answers and more.

You'll be confident of running an academic institution that leads the way while leveraging technology to improve the organization and effectiveness of your business.

Send us DM and check the comment section for details.

22/05/2025

For the most part, a lot of people wait until they get acquainted with the details before they make effort. To be successful, the reverse is the case, you can get started as quickly as you can. All you need to get started is the basics - the basics in anything always will be the advantage.

Get started.

21/05/2025

List one digital tool you are currently using in your workplace.

check the comment section for ours.

19/05/2025

Did you know that digital tools can automate repetitive tasks like data entry, scheduling, and customer service, freeing up staff to focus on higher-value activities? Digital tools will provide real time data and insights, allowing you to make informed decisions and optimize operations.

Yes, digital tools can help manage customer interactions, track leads, and personalize customer experiences, leading to increased customer satisfaction and retention.

What is stopping you from embracing digital tools? For increased efficiency and productivity, you should embrace digital transformation using digital tools.

05/05/2025

Today we’re going to learn how to account for salary that is due but not yet paid — a very common scenario in real life, and a perfect example to apply our Golden Rules of Accounting. (Personal/Real/Nominal A/c)

Scenario 1: Salaries Are Due, But Not Paid (on March 31)

Imagine it’s the end of March. All our employees have worked hard the whole month. Their salaries — let’s say Rs. 3,00,000 — are due, but we haven’t paid them yet. So, what do we do in our books?

We pass this entry:

Salaries Account Dr. 3,00,000
To Outstanding Salaries Account 3,00,000

Let’s understand why:

Salaries A/c is a Nominal Account.
And what’s the rule for nominal accounts, ?
Yes! "Debit all expenses and losses."
So we debit salaries because it's an expense.

Outstanding Salaries A/c is a Representative Personal Account.
It represents the employees to whom we owe this money.
And the rule here is "Credit the giver."
Since the employees are giving us time and service and we haven’t paid them yet, they’re the givers for now — we credit this account.

Why do we do this?
Because in accounting, even if the payment hasn’t been made, we must record the expense when it is incurred, not when cash leaves. This follows the accrual concept — very important in accounting.

Scenario 2: Salaries Are Paid Later (on April 5)

Now, it’s April 5. We finally pay the salaries through the bank. Now, we pass this entry:

Outstanding Salaries Account Dr. 3,00,000
To Bank Account 3,00,000

Let’s break this down:

We had earlier credited Outstanding Salaries — now we debit it to cancel that liability.

The Bank A/c is credited — because Bank Account is a Personal Account

So here:

Outstanding Salaries A/c is a Representative Personal Account — and now, the employees are receivers, so we debit it.

Bank A/c is a Personal Account — and since the bank is the giver, we credit it.

And what do we get in the end?
Our books show that the expense was incurred in March and settled in April.

02/05/2025

Empowering small businesses and schools with digital skills and tools for the future workplace

02/05/2025

Empowering Small Businesses & Schools with Smart Digital Skills & Tools for the Future Workplace.

We don't just train - we advocate, provide solutions and even develop tools.

13/12/2024

07/12/2024

At the end of every academic session and term, it is customary for teachers and academic institution to get very busy with report card computations. Many people do it manually which results in series of mistakes which make students records inconsistent with their actual performances.

With our School Management Software we have solved that problem for you and other management problems you may be facing as an academic institution.

You can sign up your school using the link below:

https://shorturl.at/rjxVD

03/12/2024

We are working closely with small businesses (SMEs) giving the necessary information that will help them scale their businesses.

03/12/2024

Creating school Report card this period shouldn't be stressful for teachers
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