Hi there, @natasha-bambara.
Thanks for tagging me in your post. In QuickBooks, the default display of a balance sheet report is Assets - Liability = Equity.
It will give you a financial snapshot of your company as of a specific date, and calculate how much your business is worth (your business's equity) by subtracting all the money your company owes (liabilities) from everything it owns (assets).
To ensure you'll account for the transactions accurately, I'd recommend consulting your accountant.
For future reference, check out this article to get ideas between cash and accrual accounting methods in reports.
Additionally, you'll want to open the topics to learn more about the Basic troubleshooting for balance sheets in QBO.
Don't hesitate to post again if you have additional concerns. I'll be here to guide you more.
