Technical term in accounting needed

[Tomasz Klimkiewicz]

Hello,

I wonder whether someone here would be able to help me find a correct technical term pertaining to covering a loss incurred by a company in an accounting year. More specifically, I'm thinking of a verb to replace 'cover' in the above context, as I'm sure it's not the right legal term.

The expressions I have on my mind are the following:

to compensate for the loss incurred
to redeem the loss
to remit the loss

anything else?

Any help greatly appreciated.

TeeKay

[Tdol]

set off?

[Tomasz Klimkiewicz]

Thanks, Tdol. 'set off' is the verb I needed. (Why didn't I think of it?!)

[Tdol]

It took me a bit of head-scratching to get there.