Deduct

To deduct means to subtract or take away an amount from a total. It's a common term in mathematics, accounting, and finance. It often involves the removal of a sum of money, points, or units from a larger quantity, resulting in a reduced final figure. The process of deduction requires clarity and accuracy to avoid errors. It's crucial to identify what needs to be subtracted and to perform the calculation correctly, ensuring the final figure is accurately represented after the reduction. Careful record-keeping is often necessary to document any deductions made.

Deduct meaning with examples

• After receiving the invoice, the company decided to deduct a 10% discount for the bulk order. The manager explained the discount was part of their standard policy. Therefore the final total due was now lower because they were going to deduct this percentage from the original price. The payment was processed reflecting the deduction and was recorded in the company's accounts.
• The bank will deduct the monthly service fee from your account balance. This fee covers the expenses for maintaining your account. It will be automatically removed at the end of the month. The automated system will deduct the necessary amount, therefore updating the current available balance. This ensures your account is always updated and accessible.
• The teacher decided to deduct points from the student's grade for late submissions. The student had turned in the assignment a day late. This decision meant that the final grade would be impacted. The system automatically calculated to deduct points, resulting in a lower overall score for the assessment. This would affect their final grade.
• When calculating the final sale price, we will deduct any applicable taxes and shipping fees. The items were already on sale. We will also deduct shipping and handling fees. The customer will be shown the final amount. This deduction process allows the client to see an accurate representation of the final cost, resulting in a completed transaction.