M..
Please do NOT put your daughter in timeout for a potty accident. Accidents happen. This is new to her, and she will need some time to get the hang of it. Do not shame her if she has an accident.
I potty trained my 2 year old in two days. I put her in underwear and told her to tell me if she had to go. Yes, we had plenty of accidents the first two days. But I always told her "it's ok honey, accidents happen". We got a potty chart and hung it next to the toilet. Every time she used the potty she got to put a sticker on the chart and I gave her tons of praise. I told her she was a big girl and she made me proud. If she had an accident, I changed her and told her its ok, just let me know next time. Also, ask her every hour or so "do you need to go to the potty?". Sometimes they get so wrapped up in what they are doing, they ignore the urge to go. This is totally normal.
Just give her lots of praise. And don't punish her for accidents. Accidents happen. Good luck!