true up
The phrase 'true up' is commonly used in financial, mechanical, and utility contexts to refer to the process of making precise adjustments to ensure accuracy or balance.
Definition
C1Finance
(technical)To make an end-of-year adjustment to ensure the correct employer matching contributions in retirement plans.
Example
- The company had to true up the 401(k) contributions to ensure all employees received their full match.
C1Accounting
(technical)To reconcile financial records by correcting discrepancies between estimated and actual figures.
Example
- The accountant made a true-up entry to align the inventory records with the actual stock levels.
C2Mergers and Acquisitions
(technical)To make a post-closing payment adjustment based on actual financial metrics of the acquired company.
Example
- A true-up payment was made to the buyer after the final financial metrics were calculated.
C1Utility Billing
(technical)To summarize net electricity use over a period, including any credits or balances.
Example
- The solar user received a true-up statement showing their net energy use for the year.
B2Mechanics
(technical)To adjust a mechanical part to ensure it is level, balanced, or correctly aligned.
Example
- The technician trued up the bicycle wheel by adjusting the spokes.
Similar
Terms that have similar or relatively close meanings to "true up":
square upreckon upbalance the bookscash uptot uptop upmake it up toeven upfix upto rightsfront uptouch uptune upfinal accountante upsquare awayadd upround upmakeup callfree up