From Longman Business Dictionarycharge something → off phrasal verb [transitive]ACCOUNTINGFINANCE to lose profit because money that is owed to you will not be repaidThe bank charged off $82.9 million in bad loans on the third quarter. → see also charge-off → charge→ See Verb tablecharge-offˈcharge-off noun [countable]ACCOUNTINGCOMMERCE when you lose profit because money that is owed to you will not be repaidCharge-offs for loan losses were only 0.7% of total loans, about half the average for regional banks.
