What is the offset to the accumulated depreciation on a balance sheet? I have it subtracted from the assets. Would it decrease the owners equity?

Accumulated Depreciation is a Contra Asset Account. It does not affect Owners Equity.

I have a related question... So if it is subtracted in assets, how does it balance in the equity and liabilities portion of the balance sheet? My balance sheet is not balancing and the difference in number is the accumulated depreciation :(