close the books

close the books

1. To end a particular financial or accounting period. The business has already closed the books for this quarter.
2. To decide that a particular situation has ended; to conclude something; to stop considering something as an option. Mindy was our top candidate for the job, but we had to close the books on her when we learned that she had lied on her resume. I think it's time for me to close the books on this situation because I'm clearly never getting my money back.
See also: book, close

close the books

Stop financial transactions; end a matter. For example, The entire estate went at the auction, so we can close the books on it, or He was glad to close the books on this case.
See also: book, close

close the books

make no further entries at the end of an accounting period; cease trading.
See also: book, close
References in classic literature ?
I close the book. My strict sense of propriety restores it (by the hands of my wife) to its place on the writer's table.
'Close the book, Miss Nickleby,' said Mrs Wititterly.
Sviaz Bank will close the books for the offer on 17 February.
Accounts reacted positively, allowing ADIB to close the books and price on the same afternoon at the tight end of the price guidance.
While sales increased across the country for the eighth successive month, auto giant, Sir Arnold Clark, said Ford's decision to 'close the books on scrappage deals,' was a further indicator of low scrappage stocks.
The Joint Legislative Fiscal Committee has approved is dipping into the state's Rainy Day Fund for $80 million to close the books on the fiscal year that ended June 30.
"To our knowledge, there is no specific tool on the market to help users of SAP solutions close the books in a faster and more controlled manner," said Jeremy Roche, CODA Group CEO, in an announcement.
While I am grateful to have achieved our primary goals of creating a more welcoming and effective kitchen, I am equally grateful to close the books on this project.
One can also appreciate how the bean counters want to be able to close the books with a positive result against any negative expense.
"This was a very exciting year for our industry and reaching an all-time record high in sales of $204 billion is a great way to close the books for year 2000."
* FIVE YEARS AGO, it took Microsoft two weeks to close the books. Now it takes four days.
`Many people say why can't we just close the books on the past.
Depending on the circumstances, S corporations can make an election to close the books under Sec.
The bank, also known as Rosselkhozbank, will close the books for the three-year bond on 3 February and will launch the issue on 7 February.
Shedlarz: This was especially time-constrained because we had to close the books three weeks after closing on the transaction.