balance the books
1. Literally, to ensure that the figures regarding credit and debit are correct and to determine the remaining balance, as in a business or in personal finance. I had to stay at work for an extra two hours last night balancing the books. After I got a call from the bank, my husband sheepishly told me he hadn't balanced the books in a week. Susie in payroll is balancing the books right now.
2. By extension, to try and make up the deficit in a given budget by increasing revenue or income. The President laid out a new economic plan to try to balance the books by increasing taxes on the wealthy. I know it's not a palatable solution, but I'm afraid the only way we're going to balance the books is by increasing the cost of our subscription service. If the board doesn't come up with a way to balance the books, the company might be out of business sooner than later.
Farlex Dictionary of Idioms. © 2024 Farlex, Inc, all rights reserved.
balance the books
1. Add up the debits and credits of an account and determine the difference; also, bring the two sides into equilibrium. For example, It's Joe's job to balance the books each quarter. [Late 1500s]
2. Settle an account by paying what is due, as in We can't balance the books till your last check clears. [Early 1700s]
The American Heritage® Dictionary of Idioms by Christine Ammer. Copyright © 2003, 1997 by The Christine Ammer 1992 Trust. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.