an elimination of an asset's value from a company's accounting records, a cancellation of a debt or an account balance

Formal and Informal Expressions of writeoff

In different contexts, you can replace 'writeoff' with suitable alternatives. In a more formal setting, 'cancellation, elimination' is apt. In informal speech or writing, 'scrapping, dumping' is a commonplace synonym.

writeoff: Explore its Definition & Usage

writeoff Definition

1an elimination of an asset's value from a company's accounting records
2a cancellation of a debt or an account balance

Using writeoff: Examples

Take a moment to familiarize yourself with how "writeoff" can be used in various situations through the following examples!

Example
The company had to make a writeoff of $10 million in bad debts.
Example
The bank agreed to a writeoff of the remaining balance on the loan.
Example
The car was damaged beyond repair and had to be written off by the insurance company.

writeoff Synonyms and Antonyms

Synonyms for writeoff

Antonyms for writeoff

Phrases with writeoff

write off as
to dismiss or disregard something as unimportant or insignificant
Example
Many people write off his ideas as unrealistic.
write off for
to request something in writing, such as information or a product catalog
Example
I wrote off for a brochure on the new car models.
write off on taxes
to deduct a business expense from taxable income
Example
The company can write off the cost of the new equipment on their taxes.

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Summary: writeoff in Brief

'Writeoff' [raɪtɒf] refers to the elimination of an asset's value from a company's accounting records or a cancellation of a debt or account balance. Examples include 'The company had to make a writeoff of $10 million in bad debts.' 'Writeoff' extends into phrases like 'write off as,' meaning to dismiss something as unimportant, and 'write off for,' meaning to request something in writing.