balance the books
The phrase "balance the books" is commonly used in accounting to describe the process of ensuring that financial records are accurate and complete.
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Definition
B2Accounting
(idiomatic)To ensure that all financial transactions are correctly recorded and that total debits equal total credits.
Example
- The accountant worked late into the night to balance the books before the end of the fiscal year.
B2Finance
(idiomatic)To verify that income and expenditures are accurately reflected in financial records.
Example
- It's crucial for businesses to balance the books regularly to maintain financial health.
Similar
Terms that have similar or relatively close meanings to "balance the books":
cook the bookscast up one's accountson the bookstrue upfinal accountclose the book onsquare upstrike a balanceturn a profitbalancing acttot upclose out