Am I correct in logging the initial capitalization of my startup by leaving the bank account Starting Balance at $0 (since I am not migrating accounting based on the info from Enter starting balances | Manager) and creating a Receipt of funds received into the business checking account, as shown, with the owner’s deposit of funds into the bank as a post to Owner’s Equity dated for the day I founded the company? I renamed Retained Earnings to Owner’s Equity as the Guide suggested for a sole proprietorship.
Yes, as long as the company was started on 9/23/2020. There is no requirement that your initial contribution of capital occur on the day you start operations, however. You just need to receive the money before you disburse any. It would be perfectly acceptable to start operations on 9/1/2020 and not receive the money until 9/23/2020.