Trueup Definition and Meaning
By Tayyaba Rehman & Urooj Arif — Updated on March 5, 2024
Trueup means to adjust accounts or figures for accuracy, bringing them into alignment with actual values. e.g., The finance team needed to trueup the budget estimates with the actual spending.
Table of Contents
Trueup Definitions
Billing Adjustment: Correcting billing to reflect actual usage or services.
The utility company performed a trueup on our water usage.
Performance Metrics: Aligning performance metrics with actual achievements.
The sales team's quarterly trueup showed increased performance.
Inventory Alignment: Adjusting inventory records to match physical stock counts.
An annual trueup of inventory prevents stock discrepancies.
Time Reporting: Correcting reported time to reflect actual hours worked.
The manager requested a trueup of all timesheets.
Contractual Compliance: Ensuring contract terms are met through periodic adjustments.
The contract trueup confirmed adherence to service levels.
Data Accuracy: Correcting data to match reality or expected outcomes.
After discovering errors, a data trueup was conducted.
Software Licensing: Adjusting software licenses based on actual usage.
An annual software license trueup avoided compliance issues.
Financial Reconciliation: Adjusting financial records to reflect true spending and income.
The monthly trueup ensures all transactions are accurately recorded.
Resource Allocation: Adjusting resource allocation based on project needs.
A trueup of resources was necessary for project completion.
Expense Reporting: Reconciling reported expenses with actual receipts.
Travel expense reports underwent a trueup process.
Trueup Snonyms
Adjust
To alter or move something slightly in order to achieve the desired fit, appearance, or result.
He adjusted the figures to account for the discrepancy.
Align
To place or arrange things in a straight line.
The accountant aligned the financial statements with the tax returns.
Correct
To make right; to rectify.
The error in the report was promptly corrected.
Reconcile
To make one account consistent with another, especially by allowing for transactions begun but not yet completed.
It's time to reconcile your bank statements.
Balance
To make the amounts in two accounts equal by adding or subtracting money.
She balanced her checkbook meticulously.
Harmonize
To make or form a harmonious, consistent, and orderly whole.
The new data was harmonized with the existing records.
Rectify
To put (something) right; correct.
The company took steps to rectify the situation.
Standardize
To bring into conformity with a standard.
The processes were standardized to improve efficiency.
Normalize
To bring or return to a normal condition or state.
Measures were taken to normalize the data.
Calibrate
To adjust (experimental results) to take external factors into account or to allow comparison with other data.
The instruments were calibrated for the experiment.
Trueup Idioms & Phrases
True-up the accounts
To adjust financial records to reflect the actual situation accurately.
At the end of the fiscal year, the finance department worked overtime to true-up the accounts.
True-up period
A specified time during which adjustments are made to reconcile differences.
The contract includes a true-up period to adjust the payment based on actual usage.
True-up the numbers
To correct or adjust figures so that they represent the true or accurate value.
After reviewing the report, it was clear we needed to true-up the numbers to reflect the recent sales increase.
Monthly true-up
Regular, monthly adjustments to accounts or records for accuracy.
Their subscription service requires a monthly true-up to manage user licenses effectively.
True-up charge
An additional fee applied to correct or adjust an account or billing statement.
Due to an oversight in meter reading, customers received a true-up charge on their utility bill.
True-up reconciliation
The process of reconciling or aligning two sets of records or accounts.
The audit process involved a thorough true-up reconciliation of all financial transactions.
True-up report
A report detailing adjustments made to ensure accuracy in records or accounts.
The true-up report was submitted to management for review and approval.
True-up adjustment
A correction made to ensure figures or records are accurate and aligned.
The billing discrepancy was resolved with a true-up adjustment on the next invoice.
True-up time
A period or moment for making adjustments or reconciliations to ensure accuracy.
As the project neared its end, it was true-up time for the team to align the budget with the expenditures.
Year-end true-up
An annual process of adjusting accounts to match the actual financial status.
The year-end true-up revealed a significant discrepancy in the projected vs. actual revenue.
Quarterly true-up
A process done every quarter to adjust estimates to actual figures.
The quarterly true-up helps us stay on track with our financial goals and projections.
Pre-true-up
Preliminary adjustments made before the official true-up to minimize discrepancies.
The pre-true-up analysis helped identify areas where significant adjustments were likely needed.
True-up entry
A journal entry made to correct or adjust accounting records.
The accountant made a true-up entry to correct the prepaid expenses account.
Post-true-up
Actions taken after the true-up to implement the adjustments in the system or records.
After the post-true-up, the financial statements accurately reflected the company's position.
True-up meeting
A meeting dedicated to discussing and planning the adjustments needed for true-up.
The finance team scheduled a true-up meeting to ensure everyone was prepared for year-end.
Budget true-up
The process of adjusting the budget to reflect actual spending and income.
The mid-year budget true-up showed that we were under budget thanks to unexpected savings.
True-up process
The entire procedure of making necessary adjustments for accuracy.
The new software streamlined the true-up process, reducing errors and saving time.
Automated true-up
The use of software or systems to automatically adjust and reconcile accounts.
Implementing an automated true-up system has significantly reduced manual errors in billing.
True-up audit
An audit focused on verifying the accuracy of the true-up adjustments made.
The external auditors conducted a true-up audit to verify the adjustments reported in the financial statements.
True-up calculation
The act of calculating the adjustments needed to reconcile differences.
The true-up calculation revealed a need to increase the reserve for doubtful accounts.
Trueup Example Sentences
The trueup process identified several accounting discrepancies.
Following the audit, a comprehensive trueup was necessary.
A trueup of the project budget was initiated.
The HR department conducted a trueup of employee benefits.
She completed a trueup of the digital ad spend.
They performed a trueup to align with the new regulations.
We scheduled a trueup for the end-of-year finances.
Trueup adjustments were made to the marketing budget.
A trueup of the network usage data was performed quarterly.
The lease agreement included a trueup clause for maintenance costs.
Trueup activities ensured the accuracy of the customer database.
Following the merger, a significant trueup of assets was required.
The inventory trueup revealed a surplus of supplies.
The annual report included a trueup of projected versus actual sales.
Trueup processes are crucial for maintaining data integrity.
Common Curiosities
Why is it called trueup?
It is called trueup as a financial term meaning to adjust figures to ensure accuracy and alignment with reality. It combines "true" (accurate or correct) with "up" (to raise to a higher standard or level).
How is trueup used in a sentence?
"At the end of the fiscal year, we will trueup the estimated expenses against the actual expenses."
How do we divide trueup into syllables?
Trueup is divided into syllables as true-up.
What is a stressed syllable in trueup?
The stressed syllable in trueup is on the first syllable, "true."
What is the first form of trueup?
As a verb, the first form is "trueup."
How many syllables are in trueup?
There are two syllables in trueup.
What part of speech is trueup?
Trueup is used as a verb.
What is the root word of trueup?
The root words are "true" and "up."
What is the singular form of trueup?
Trueup remains the same in both singular and plural contexts as a verb; it does not change form.
What is another term for trueup?
Another term for trueup could be "reconcile" or "adjust."
What is the pronunciation of trueup?
The pronunciation of trueup is /ˈtruːˌʌp/.
Is trueup an abstract noun?
No, trueup is a verb, not a noun.
Is trueup a negative or positive word?
Trueup is neutral but often carries a positive implication of correcting or ensuring accuracy.
Is trueup a countable noun?
Trueup is not a noun; it's a verb.
Is trueup a collective noun?
No, trueup is not a collective noun.
Which vowel is used before trueup?
Articles "a" or "an" are not typically used directly before verbs like "trueup."
What is the verb form of trueup?
The verb form is "trueup," used as one word in the context of adjusting accounts or figures.
Is trueup an adverb?
No, trueup is not an adverb.
Which determiner is used with trueup?
Determiners are not typically used directly with verbs.
What is the second form of trueup?
There isn't a widely recognized second form (simple past) due to its specific usage, but it could be "trueupped" following regular verb conjugation patterns.
What is the third form of trueup?
Similarly, the third form (past participle) could be "trueupped" following regular verb conjugation patterns.
What is the plural form of trueup?
Not applicable, as trueup is a verb and does not have plural forms.
What is the opposite of trueup?
The opposite could be "misalign" or "distort," depending on the context.
Is the trueup term a metaphor?
Trueup can be seen as a metaphorical term in finance and accounting, symbolizing the act of making things correct or aligned.
Is the word trueup Gerund?
The gerund form of trueup would be "trueupping."
Which preposition is used with trueup?
Prepositions such as "with" or "against" can be used depending on the context, e.g., "trueup with the actual figures."
Which conjunction is used with trueup?
Conjunctions like "and," "but," and "or" can be used in sentences involving "trueup."
Which article is used with trueup?
Articles are not used directly with verbs like "trueup."
Is trueup a noun or adjective?
Trueup is primarily used as a verb.
Is trueup a vowel or consonant?
This question does not apply to the word "trueup" as a whole; it pertains to individual letters.
Is the word trueup is imperative?
Yes, trueup can be used in an imperative mood, as in "Trueup the accounts before the audit."
Is the word “trueup” a Direct object or an Indirect object?
"Trueup" is a verb and thus does not serve as a direct or indirect object.
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Written by
Tayyaba RehmanTayyaba Rehman is a distinguished writer, currently serving as a primary contributor to askdifference.com. As a researcher in semantics and etymology, Tayyaba's passion for the complexity of languages and their distinctions has found a perfect home on the platform. Tayyaba delves into the intricacies of language, distinguishing between commonly confused words and phrases, thereby providing clarity for readers worldwide.
Co-written by
Urooj ArifUrooj is a skilled content writer at Ask Difference, known for her exceptional ability to simplify complex topics into engaging and informative content. With a passion for research and a flair for clear, concise writing, she consistently delivers articles that resonate with our diverse audience.
