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balance the books

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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.

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.

See also: balance, book

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]

See also: balance, book