Importance of current tally (7)
I believe the answer is:
account
'importance' is the definition.
(thesaurus)
'current tally' is the wordplay.
'current' becomes 'ac' (alternating current).
'tally' becomes 'count' ('count' can be a synonym of 'tally').
'ac'+'count'='ACCOUNT'
'of' is the link.
(Other definitions for account that I've seen before include "Financial record; narrative" , "Bill; description" , "Invoice - story" , "books" , "Record of an event" .)