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Chapter 19. Equity Accounts > Understanding Equity Accounts

Understanding Equity Accounts

The term equity refers to the ownership interest of the business, or the assets that belong to the owners after all claims against the business have been satisfied.

You use equity accounts in QuickBooks to track your company’s net worth. When you start QuickBooks, the program sets up the Opening Balance Equity account for you. You can add an owner’s equity account, retained earnings, or a draw account.


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