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qbteachmt
Level 15

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There is Account NAME, and account Type.

Type = Equity.

Name = the program makes one, already. Double-click each Equity account from the chart of accounts. The one that doesn't open as a register view, but as a Report, is this account, no matter what it is Named.

The Function of Equity is Net Assets. The Accounting Formula is Assets = Liability + Equity. Turn that around:
Assets minus Liability = Net Assets (difference)
That's why these are Synonyms for Equity:
Retained Earnings
Owner Equity
Unrestricted Net Assets
Fund Balance

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