“Current to date” refers to the amount of money or items that have been made or spent between a specified start time and the present, used to compare actual performance with projected performance and ensure a business or project is within budget. It can apply to almost anything that needs to be tracked.
“Current to date” is a business and accounting term. Indicates an amount, often money, that has been made or spent between a specified start time and the present. It specifically describes the total that has actually been completed, as opposed to the total that is planned.
In many cases, this phrase is applied to funds. These can be incoming or outgoing funds and can be applied to large or small projects. For example, a large manufacturing facility may want to know its total sales dollar, current to date. This would mean the sum total of all funds collected between the first of the fiscal year and the current date. This would generally not include work that has been contracted for but not yet paid for, as the sale is incomplete until both product and payment have been delivered.
The same principle applies to actual expenses to date. This number would include all funds spent to date, but would not include funds pledged. In more complex accounting models, accrual methods can change the meaning of the word “actual,” but in general, this term is used specifically to refer to money actually spent or received.
The purpose of a current to date figure is generally to compare actual performance with projected performance. Specifically, it is to ensure that the business or project is within budget. These figures may also be needed to plan cash flow. If a business has a low level of affordable capital, for example, it might need to know its current sales to date so it can determine how much money it has available for a purchase or other expense.
However, money is not the only area in which the term is used. A production facility may want to know how many items it has produced to date. This would include all items that are complete, but exclude items that are partially completed.
Real to date can, in fact, apply to almost anything that needs to be told. A retail store, for example, may want to know how many customers have entered the store in order to assess the effectiveness of a marketing plan. Similarly, a baker may want to know the actual amount of flour used to date to ensure he has enough on hand to complete all his jobs for the day.
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