This is true.
This is not quite true. If you use the built-in Capital Accounts tab, the separation of contributions, drawings, and share of profit is entered via a dropdown list. If you use your self-created Owner’s capital, you must manually type in a description of what the transaction is for. Otherwise, your Statement of Changes in Equity will not have any categorizations to rely on. And if you are not consistent with your entries, you might end up with something like “Capital contributed”, “Funds contributed”, “Owner capital deposit”, “Owner contribution”, and so forth, when all are actually the same thing.
The benefits are consistency and less typing. Otherwise, a self-created Owner’s capital merely duplicates what is already hard-coded into the program. My recommendation is to either (a) rename Retained earnings as Owner’s equity or (b) use the built-in Capital Accounts tab.