Definition of close the books in English:

close the books

phrase

  • Make no further entries at the end of an accounting period; cease trading.

    ‘branches will be asked to close their books at the end of December’
    • ‘Now, as companies close the books on another quarter, the lack of pricing power combined with weak demand is sapping the top and bottom lines.’
    • ‘We're still closing the books on 2003, and there will be a summary article in the April issue of the magazine.’
    • ‘I'll eat my hat if his successor does not close the books at the end of 2004 with a small surplus.’
    • ‘He suggests that a club owner spend the extra money to hire an accountant to formally close the books at the end of the year.’
    • ‘This focus is consistent with the practice of closing the books of account annually.’
    • ‘One can also appreciate how the bean counters want to be able to close the books with a positive result against any negative expense.’
    • ‘It adds that that the aim is ‘to clear the accounts and to close the books for the years up to March 1995’.’
    • ‘In fact, Vermont closed the books on its 2003 fiscal year with a $10.4 million surplus, even as California, Massachusetts, and many other states battle huge deficits.’
    • ‘The Dow and Nasdaq were ready to close the books on their first down years since 1990.’
    • ‘Shareholder requirements for dividends made it necessary to define an accounting period, close the books and calculate profits.’