Owner's Draw setup under Equity group

[Mike or Penny Novack]

On 3/13/2017 5:13 AM, DaveC49 wrote:
> Adrien,
>
> I'm not sure I would agree with the statement that an Equity:Owner's draw is
> a temporay account.
>
I suspect that Adrien was not referring to the "owner's draw" under 
equity but an account used for the other side of that transaction. You 
or I would probably have called it something else (like "net gain" or 
"net loss") in the old days of pen and ink on paper accounting for the 
temporary income or expense account to bring the (paper) P&L account to 
net zero.

Michael D Novack