close-down

(also close down, closedown)

Definition

› the act or process of ending the operations of a business, system, industry, etc. either temporarily or permanently: The partial government close-down is now in a record 20th day. → See also shutdown

› ACCOUNTING the act of ending the payment of invoices for a particular month or the date this happens, so that any invoices received after this date are not processed until the following month: Monthly close down of costs will usually occur at the end of each calendar month. Be aware that without forward planning the Christmas close-down period can delay payment by 28 days.

(Definition of close-down noun from the Cambridge Business English Dictionary © Cambridge University Press)