2 yes CUTOFF
defns from
http://dictionary.reference.com/browse/cutoff
- a road, passage, etc., that leaves another, usually providing a shortcut
- Accounting . a selected point at which records are considered complete for the purpose of settling accounts, taking inventory, etc.
the 1st is the 'by-pass' part of the clue
the 2nd is the 'records completed' part of the clue