If you use accrual accounting you would record the utility bill as a Payable. If you are on a cash basis and do not record any payables or receivables, then you would only record the expense when you actually pay the bill.
[Debit] Utility bill 160 [Credit] Cash 160
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
Utility bill statements should be kept for at least one year for record-keeping purposes and to compare usage patterns.
Most states have a 7 year statute of limitations, after the bill has been paid.
A debit to capital and and a credit tocash
Debit utility expenses 900Credit expenses payable 900Debit expenses payable 900Credit cash / bank 900
utility bill
yes. Water companies are overseen by state utility regulators. They are utility companies. The water bill, therefore is a utility bill.
No a doctor bill would not be considered a utility bill.
No, an Internet bill is not classified as an utility bill. An Internet bill would be more for entertainment and not a must have thing.
Yes, you can typically add your spouse to your utility bill by contacting your utility provider and providing their information.
The average utility bill is: $264.33 per month.