offset

  

Definitions (3)

1.Accounting: To cancel an accounting entry with an equal but opposite entry.
2.Banking: Bank's or other lender's right (called right to offset) to seize a delinquent debtor's (and/or the guarantor's) any account balance in any other bank on obtaining a garnishee order from a court. See also setoff.
3.Futures and options trading: To liquidate a position by entering an equivalent but opposite transaction in the same delivery month. Offsetting cancels the obligation of making (or taking) physical delivery of the underlying commodity or financial instrument. To offset an initial purchase, a sale is made; to offset an initial sale, a purchase is made.

Use offset in a sentence

  • The flow chart looked different from the last time. Sally took some funds to cover the bill and put the donations so it won't be offset.

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  • The elderly man was hoping to offset his extremely high medical bills by getting a second job cleaning floors at the local school.

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  • The new players on the Diamondbacks sort of offset the regular players because they did not have enough time to get to know them.

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