3000 Owner's Equity
The owner's overall stake in a sole proprietorship or single-member LLC. Contributions, draws and retained earnings roll into it over time.
In Solo Superstars
Shown in the equity section of the Balance sheet. The year-end close rolls the year’s draws and estimated tax payments into equity, so the detail accounts start each year at zero.
Example
After year one: contributions 20,000, draws (12,000), retained earnings 15,000 — total equity 23,000.
Codes shown are the defaults a new workspace starts with. Yours may be renamed or renumbered — check Accounting › Chart of accounts. See the full default chart.
Also called
- owner equity
- capital
Related
- Owner's equity — What the business is worth to you on paper: what you put in, minus what you took out, plus profit kept over the years.
- 3100 Owner's Investment — Money or assets you put into the business as the owner. Not revenue; it raises your equity.
- 3200 Owner's Draw — Money you take out of the business for yourself. Not an expense and not salary; it reduces equity. A contra-equity account.
- 3300 Retained Earnings — Profit the business has kept over the years rather than paid out. Each year-end close moves net income here.
- Chart of accounts — The list of buckets your money can be sorted into: assets, liabilities, equity, revenue, expenses. New workspaces start with a default set you can rename or extend.
- Default chart — The chart of accounts every new workspace starts with, numbered the way QuickBooks users expect. Yours may have been renamed or extended since.