QB Issue Resolution:

It’s normal that QuickBooks creates debits and credits when entering bank deposits. This happens to all transactions.

 

Try opening a different transaction, click More and choose Transaction Journal, you’ll see the movement of funds from one account to another through debits and credits. QuickBooks uses double-entry accounting when you create a transaction, meaning it affects at least two accounts in your ledger.

 

You can check the article that explains how accounts are affected by debits and credits for additional reference. You can also seek advice from an accountant.

 

We’re always here if you need further assistance.

Resolution for Issue 'QBO creates a debit and credit when bank deposit entered. Why? And how to correct?' available: Yes (Solved).
Source: Intuit Community forum.

QBO creates a debit and credit when bank deposit entered. Why? And how to correct?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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