This bucket contains the amount the taxpayer owes against the Tax Account for the current year.
Where-Used: Usually, the current year balance is automatically updated as detail transactions are applied against a Tax Account (within Tax Billing and from other modules). However, you can also update the balance for the current year during Tax Master Maintenance at the Balances and Detail Tab. The Balance for Current Year prints on several reports.
Notes:
Refer to the Tax Type Codes Chart for information about the source of transactions from other modules.
The Year End Roll updates the buckets (the balance values). For example, the current year balance rolls to the prior year balance.
Format: 7.2 numeric
See also: Balance for Prior Year, Balance for Prior Two-Plus Years, Balance for Next Year, and Balance Total.