Whenver i create a new donation deposit, it also affects my bank balance in quickbooks. seems double counting

Let me help you record the entries correctly to fix the double counting of your transactions, Donation.

Creating a deposit and sales receipt doubles your transaction. Instead, you can make an invoice and delete the receipt to link both transactions when receiving payment. 

Since you've already created the receipt, run the Deposit Detail report and locate the sales receipt you created. Once done, double-click the transaction so you'll be routed to the actual transaction and delete it.

After that, open the Deposit detail report again and click the deposit transaction. Change the account to Accounts Receivables or Trade and other receivables.

Then, go to the Receive Payment option to link your donation to the deposit by clicking the box on both sides.

Moreover, Quickbooks gives you a variety of reports that provide snapshots for your business. Learn what are these reports that are included in your subscription. I've added this article for reference: Reports Included in your QuickBooks Online Subscription.

You can let us know if you have any other questions about donation deposits and invoices. We're here to get you covered.