Book-keeping action that reduces the value of an asset in a balance sheet to zero.

1 : to eliminate (an asset) from the books : enter as a loss or expense [write off a bad loan] 2 : to use as a deduction in calculating taxable income [write off the cost as a business expense]

Charging an ASSET ACCOUNT to EXPENSE or LOSS.

When an investment, such as a loan, becomes seriously delinquent or in default and is determined to be uncollectible, the lender may choose to charge the outstanding investment amount as an expense or [..]

When an investment, such as a loan, becomes seriously delinquent or in default and is determined to be uncollectible, the lender may choose to charge the outstanding investment amount as an expense or a loss.

A vehicle is written off when the insurer deems it too expensive to repair. It doesn’t necessarily mean it’s unrepairable. In the instance where your vehicle is written off and you have a comprehensiv [..]

This is when damage to a vehicle is so severe that it would cost more money to repair than to replace altogether. Within the insurance world this is often referred to as a "total loss".

A Write-off

If your car is so badly damaged that the cost to salvage and repair it would be more than its market value, it may be written off. This means that if you have comprehensive or fire and theft cover we may choose to pay you the agreed or market value of your car rather than pay for repairs if you make a successful claim.

In the event of serious damage to a vehicle the insurance company will make a judgement as to whether repair of the vehicle is an economic prospect (whether the repair cost will exceed the market valu [..]

Your car is declared a write off when in our opinion, it is so badly damaged that it would not be either safe or economical to repair or when it has not been found within 14 days of you reporting its [..]

To cancel a debt, or to acknowledge the loss or worthlessness of an asset. Also to remove an asset or holding entirely from a balance sheet. The reduction in value, or loss, is said to be "writte [..]

An amount of money written off the books as a bad debt. Two examples are room damage not paid by a guest, or a direct bill charge that the company is not able to pay because it went out of business.