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"zeroed out" is an appropriate and commonly used phrase in written English.
The phrase is typically used to describe a situation wherein an amount in question is set to zero, either due to a process or as a result of a decision. For example, "The account balance was zeroed out after the payment was applied."
Dictionary
zeroed out
verb
Past of zero out
Exact(52)
Also zeroed out: the radon program, climate change initiatives and funding for Alaskan native villages.
Despite Trump's proposal, these agencies are unlikely to be zeroed out next year.
In 2017, unable to get the votes to repeal the entire law, Congress just zeroed out the penalty.
e360: A couple of the EPA programs that are zeroed out in the proposed budget include the Great Lakes Restoration Initiative and the Puget Sound restoration effort.
Fed up with Webb's escalating costs, Wolf zeroed out in July Webb's funding in NASA's 2012 budget, and that's how the House passed the spending bill.
But after the April 2011 cuts, the GSA "zeroed out" that project, on which it had proposed to spend $84 million in 2011.
Similar(8)
In 2000, the U.S. Tax Court found in Walton's favor, determining the 1990 law didn't prohibit a "zeroed-out" GRAT.
The President's proposal would do away with zeroed-out GRATs.
Many, perhaps most, GRATs were structured as so-called zeroed-out GRATs.
A zeroed-out GRAT enables wealthy folks to use their lifetime gift tax exemption for other transfers.
There have been proposals in Congress and from the Obama Administration to do away with zeroed-out GRATs.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com