When Current Balance Equals Payoff Balance

For most contracts, payoff balance and current balance are always the same (or in colloquial speech - the amount the customer thinks they owe equals what they really owe). In this situation, an adjustment is easy: both payoff balance and current balance are adjusted by the same value.

Let's run through a typical example. The values in the payoff balance and current balance columns reflect the amount due after the financial transaction has been applied (i.e., the running balance):

The following table illustrates an example where the payoff and current balances are same:
Date	Financial Transaction	Payoff Balance	Current Balance
1-Jan-99	Bill: $125	125	125
15-Jan-99	Payment: $150	-25	-25
2-Feb-99	Bill: $175	150	150
14-Feb-99	Payment: $150	0	0
3-Mar-99	Bill: $200	200	200
15-Mar-99	Payment: $150	50	50
2-Apr-99	Bill: $225	275	275
27-Apr-99	Adj: Late Payment Charge $10	285	285

As you can see, payoff balance and current balance are always in sync.