Thank you for reaching out to us here on the Community page, @jkannesser and @CG_TTC22.
For now, you can try changing the reporting method to Accrual and then back to Cash. If you're getting the same result, I encourage reaching out to our Support Team to check your Accounts Receivable and Accounts Payable reporting. They can also check this further securely and review what's causing this unexpected behavior.
To contact support, tap on Contact us from the Help menu.
I'm also adding this article for your reference about running a balance sheet in QuickBooks Online: FAQ: Basic troubleshooting for balance sheets.
Get back to me if you have any other questions. I'm a few clicks away to help.
