In plain English
This is the up-to-date amount in the account at this moment. It is calculated from transactions that have already been recorded, so it reflects what has been entered so far.
In context
Here, "current balance" labels the amount of money in the account at the present time based on the transactions already recorded on it.
- Situation
- Understanding invoices, billing statements, balances, due dates, credits, and receipts
- What it communicates
- labels the account balance shown as of now on the statement or summary
Meaning limits
The term by itself does not establish whether any other transactions have not yet been recorded in the account.
Examples
“Although she had written a cheque that morning, the current balance was still £420 because the payment had not been recorded yet.”
“After the refund was entered, the teller checked the current balance in the account.”