I am having a problem with the word offset. This is what I'm going to type to my vendor:
If we do not receive your Statement of Account by 30 Mar '12, all payments will be "offsetted".
Is it OK to use offsetted in this sentence?
Offsetted is not the past tense of offset. Offset is the past tense of offset, it is also the verb form and the noun. It's worse than sheep.
I don't know about anybody else, but I would be confused I was told that all of my payments would be offset. I think you should use a phrase or even an entire sentence to describe exactly what you are going to do.
I would generally be quite concerned over what would happen to all my payments, which sounds like it could represent a fair amount of money.
The past-tense of offset can be offsetted, especially in certain domain specific usages such as in engineering and accounting.
"It may be carried forward for a maximum of 2 years and offsetted against MCT." (Eric E. Rowley, "The Fin. Sys. Today: Understanding Fin. Inf.", 1987, p.140)
"In taking this account, the expenditure of each year should be offsetted against the rents and profits" (SC of Appeals of Va., V34, p744)
"When an entry is made in the factory ledger accounts at the general office, it is offsetted by an entry made in the general ledger account at the factory office." (Khan, "Cost Acctg N Fin Mgmt 4 Ca Pcc", 2008, p.7-4, )