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If your utility deposit is with a supplier or a landlord you should have something in writing in your service/rental agreement covering their refund policies. Should you leave a residence owing a utility bill which you never paid, the deposit most likely went toward covering the unpaid balance, as that is its actual purpose.

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16y ago

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Related Questions

Is electricity deposit an asset?

Yes, a utility deposit is an asset.


Is Utility deposit considered cash?

no


Is Utility deposit considered accounts payable?

No, generally a utility deposit is not a payable. On the rare chance that the company allows you to "make payments" on the deposit, until it is paid, the it would be a payable, however, that generally is not the case. A utility deposit is generally required as a "security" deposit to the company providing the service and as a rule must be paid in advance before said service can be activated. Most companies after a prescribed amount of time will and certain requirements are met (no late payments, no disconnection, etc) will refund the deposit to the person/company. If this is the case, then a utility deposit that may be refunded after a certain period of time is actually considered an asset.


What is the difference between a utility deposit and a service initiation fee?

deposits are refundable and fees are not


If you move to another state what will happen to the deposit you paid for electricity?

When you move to another state, your electricity deposit may be returned to you by your current utility company, typically after your final bill is settled. Make sure to provide your forwarding address to ensure you receive the deposit refund. Alternatively, the deposit may be transferred to your new utility provider if they require one.


What is difference between prepaid expenses and deposits?

There isn't much of a difference between a prepaid expense and a deposit. Both terms are monies that are paid in advance to pay for something. With a prepaid expense, the money pays usually for a bill or utility. A deposit on the other hand, is sometimes given back after the obligation is paid. If it is not paid, the deposit is kept as payment.


Can I deposit a cashier's check back into my account?

Yes, you can deposit a cashier's check back into your account.


Can you deposit a cashier's check back into your account?

Yes, you can deposit a cashier's check back into your account.


Do you have to return a security deposit by mail?

As long as you get your security deposit back, it doesn't matter how he gives it back to you.


What should I do if I forgot to sign the back of a check for mobile deposit?

If you forgot to sign the back of a check for mobile deposit, you should not attempt to deposit it electronically. Instead, sign the back of the check as you normally would and then proceed with the mobile deposit process.


Do I have to sign the back of my check in order to deposit it?

Yes, you typically need to sign the back of a check in order to deposit it.


Do I have to sign the back of the check in order to deposit it?

Yes, you typically need to sign the back of a check in order to deposit it.