Double-entry accounting is a bookkeeping system that requires two entries — one debit and one credit — for every transaction. Your books are balanced when debits and credits zero each other out.

Companies record every transaction in their accounting books based on the double-entry system. Because every transaction involves certain kinds of monetary exchanges between at least two business ...

In a double-entry accounting system, credits are offset by debits in a general ledger or T-account. Key Takeaways Double entry refers to an accounting concept whereby assets = liabilities + owners ...

Edward Kellman, CEO and chief design engineer of Trakker Apps, holds two U.S. patents for an innovative take on double-entry accounting. The system, known as the Double-Entry Multi-Extrinsic-Variable ...

DETROIT, May 19, 2025--Today, on National Accounting Day, innovator Edward Kellman, PE, CEO and Chief Design Engineer of Trakker Apps, is bringing renewed attention to his patented reinvention of ...

The accounting equation defines a company’s total assets as the sum of its liabilities and shareholders’ equity. It's the foundation of the double-entry accounting system.

The birth of accounting rocked the world 500 years ago. And it involves a man who was a magician, a mathematician, and possibly the boyfriend of Leonardo da Vinci.