When Current Balance Differs From Payoff Balance

For some obligations, payoff balance and current balance differ (or in colloquial speech the amount the taxpayer has been asked to pay differs from what they would owe if they wanted to payoff their account).

The product does not currently include any logic that causes the payoff balance to differ from the current balance, but an implementation can use this technique, for example for a loan.

• Payoff balance holds the payoff amount for the loan, which is the current balance (the billed loan amount), plus the principal balance (the unbilled loan amount) and any accrued interest charges.
• Current balance holds the amount the taxpayer owes in respect of the billed amount (the periodic payment amount).