The current liabilities section of the balance sheet identifies those amounts due to third parties within the current year. These include accounts payable, credit card accounts, accrued payroll, taxes, unearned revenue, deposits and those amounts due within one year related to debt instruments.
Deposits has many definitions related to business. One common use relates to physical transfers of receipts to a bank account. A narrow definition of deposits refers to a formal compliance with a contract. The contract states at what point in the performance aspect of the agreement triggers the release of the deposit to the revenue section of the income statement.