OK, I have worked through online courses on Financial Accounting-Part 1 and Quickbooks using LinkedIn. I understand the answer at last, and I apologize that I should have done this first. In the future, I noted there are two accounts already in QBO for owners equity that can be used to balance the journal deposit entry. Is one better than the other? But just Excluding the balancing entry seems to work fine, so I will stay with that answer.
The other thing that I found out is one should use an income account for deposits, not the general checking account, to avoid the double entry.
