PhrasesHub

To balance the books

    Definitions

      • ensure financial stability
        To make sure that a company or individual's financial records are accurate and in order

      • settle debts
        To pay off debts or expenses in order to achieve financial equilibrium

    Examples of To balance the books

    • The accountant spent hours pouring over the financial statements, trying to balance the books.

      This idiom refers to the process of reconciling a company's financial records, making sure that all expenditures and income are accounted for and add up correctly.

    • Our startup is still working on balancing the books, but we're on the right track.

      This use of the idiom indicates that the company is still in the process of ensuring that its expenses and income are in line with each other, which is a necessary step before being financially profitable.

    • The bank demanded that the business balance its books before extending any new credit.

      This idiom highlights the importance of financial responsibility and record keeping for obtaining credit, as lenders want to see that a business has a solid financial foundation before lending more money.

    • Despite the high profits this quarter, we're still working to balance the books for the year.

      Here, the idiom emphasizes the importance of looking at financials over a longer period of time, as quarterly profits can be misleading and may not reflect the true financial health of a company. Balancing the books at the end of the year ensures a more accurate picture of the company's financial standing.

    • The accountant spent hours poring over the financial statements, trying to make sure that every expense and income were perfectly matched, in order to balance the books.

      The expression "to balance the books" refers to reconciling a business's financial accounts to ensure that the revenues and expenses match, leaving the company with a zero balance. This process helps ensure the accuracy of financial records and can highlight any discrepancies that require further investigation.

    • The company's profits had been dwindling, leaving its financial situation in disarray, but the new accountant was determined to get the books balanced once and for all.

      The phrase "in disarray" is metaphorical, implying that the company's financial situation was chaotic and poorly organized. The new accountant, on the other hand, demonstrated a strong commitment to resolving the issue and achieving a balanced set of financial records.

    • The small business owner was pleased when the accountant announced that the books had finally been balanced.

      The word "pleased" indicates that the business owner was relieved or satisfied upon learning that the accounting had been completed successfully. By balancing the books, the business owner can have greater confidence in the company's financial health and make more informed decisions based on accurate financial data.

    • The CEO requested that the finance department prioritize balancing the books, recognizing the importance of maintaining accurate financial records.

      Here, the CEO demonstrates a clear understanding of the importance of maintaining accurate financial records. The expression "prioritize" suggests that the finance department should devote a significant amount of time and resources to balancing the books, recognizing that this is a critical task for the organization's financial health.


    Conclusion

    The idiom "to balance the books" is commonly used in financial and business contexts to refer to the act of ensuring accurate financial records and settling debts to achieve financial stability. It can also be used metaphorically to describe achieving equilibrium or fairness in a non-financial situation.

    Origin of "To balance the books"

    The origin of the idiom "to balance the books" can be traced back to the practice of bookkeeping and accounting. In the context of business and finance, "books" refers to financial records, and "balancing" them refers to ensuring that the debits and credits are equal, indicating accuracy and stability in the financial situation. The idiom has been used in this context for centuries, dating back to the early days of formal accounting practices. Over time, it has also been adopted in a more general sense to describe achieving equilibrium or fairness in various situations. Overall, the idiom "to balance the books" has its roots in the meticulous practice of accounting and has evolved to be used in a broader context to describe achieving stability and fairness.