cut-off date

Cut Off Date

1. In property law, the date at which an unclaimed security or other property is turned over to the state in which the last known owner was last known to reside. See also: Escheat.

2. The date a discount, sale, or other especially lowered price on a product or products expires.

3. The last day of a month in which a bank calculates the activity on its accounts. For example, if the cut off date is the fifteenth of the month, the bank calculates its accounts' activities from the fifteenth of one month to the fifteenth of the next. Statements are based on activities between cut off dates.

Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

cut-off date

the date, coinciding with the end of an accounting period, after which goods received from suppliers or sold to customers will not enter the accounting records for that accounting period but will be recorded at the start of the next accounting period. This date is of particular importance to the stocktaking at the period end and to the measurement of sales, purchases and profit.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson