to make void; revoke; annul: to cancel a reservation.
to decide or announce that a planned event will not take place; call off: to cancel a meeting.
to mark or perforate (a postage stamp, admission ticket, etc.) so as to render invalid for reuse.
to neutralize; counterbalance; compensate for: His sincere apology canceled his sarcastic remark.
Accounting. to close (an account) by crediting or paying all outstanding charges: He plans to cancel his account at the department store. to eliminate or offset (a debit, credit, etc.) with an entry for an equal amount on the opposite side of a ledger, as when a payment is received on a debt.