Can someone answer. Why does my deposit shows as a deposit then as a negative same amount right after it. It is throwing off my balance sheet?

Hello there, @ablespropertiesl.

The negative amount of deposit shows when you have a large credit card refund that exceeds your new credit card sales on a particular day.  You'll need to create a journal entry to move the funds from Undeposited Funds to the appropriate bank account. Here's how:

1. Select + New.
2. Select Journal Entry.
3. Enter the Date of the transaction.
4. On the first distribution line, select Undeposited Funds from the drop-down list in the Account column.
5. Enter the amount of the deposit in the Debits column.
6. On the second distribution line, select the appropriate bank account from the Account column drop-down list.
7. Enter the amount of the deposit In the Credits column.
8. Select Save and close.

Once done, group the journal entry with the payments to create a $0 deposit:

1. Click the + New icon.
2. Choose Bank Deposit.
3. Select the payments and the Journal Entry you created (the total should be zero).
4. Hit Save and close to complete the process.

It'll throw off the Balance Sheet report,  depending on the affected posting account. With that, I'd recommend reaching out to your accountant to help get the balance and data of the report accurately.
 

To learn more about resolving negative deposits, check this article. For printing a single journal entry or multiple entries on one report, you can check this article: Print a journal entry report.

Also, you can check the articles below for more information about handling reports, especially the Balance Sheet report in QBO:

• Learn how to get the most out of your financial reports.
• Memorize reports in QuickBooks Online.

Please let me know if you have other questions. I'll be around to help.