Meaning of “close-down” in the English Dictionary

business-english dictionary

"close-down" in Business English

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close-downnoun [ C or U ]

also close down, closedown uk us

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.
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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” from the Cambridge Business English Dictionary © Cambridge University Press)