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 double-entry accounting system. This innovation modernizes financial tracking by simultaneously generating and reconciling multiple financial ledgers by account, user, customer, job, and vendor. The result is real-time, multidimensional financial management that preserves the integrity of traditional bookkeeping while giving users instant financial insights across multiple variables.
Kellman re-engineered the traditional double-entry accounting model, building on the system’s legacy first introduced in 1494 by Fr. Luca Pacioli. A 30-year engineering veteran, he earned two exclusive USPTO patents for his invention: the Double-Entry Multi-Extrinsic-Variable Accounting Method Database. He then implemented his technology through cutting-edge multi-user cloud computing mobile apps featuring AI data entry algorithms.
“Double Entry Accounting has powered businesses for centuries, but the underlying model hadn’t evolved,” Kellman said. “We’re honoring National Accounting Day by showing that tradition and innovation can finally move forward together so we can finally give business leaders and banks the ability to see the full financial picture in real time, make faster decisions, and eliminate the blind spots legacy systems have always left behind.”
Kellman’s patented technology powers Trakker Apps, a BaaS fintech platform that includes Business Trakker, Invoice 4 Business, Expense Trakker, Balance Sheet Trakker, and Escrow Trakker for Lawyers. This platform offers banks and businesses smarter, faster control over their financial operations.
Read the full press release here.
