A financial transaction contains two amount attributes: payoff amount and current amount. These attributes allow you to keep track separately of amounts related to how much the taxpayer owes.
Current amount contains how much the taxpayer is asked to pay. In other words, this is the amount that affects the taxpayer's balance. It is what the taxpayer owes with respect to collections and is the amount that penalty and interest is calculated on.
Payoff amount contains how much the taxpayer actually owes. This is the amount posted to the general ledger.
For most financial transactions, these values are the same. There are a small number of cases where this amount may be different. One example is a charitable contribution. If a taxpayer makes a charitable contribution when paying their tax liability, the payment or adjustment associated with the contribution credit should affect the payoff amount and the general ledger (because this amount is actually cash in hand). However, it should not affect the current amount because the contribution is not paying off any debt incurred and should not cause the taxpayer's balance to go into credit.
The topics in this section provide more information about these two fields.
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