Phrasal verbs are multi-word verbs that, like single-word verbs, convey action of the body or mind or occurrences. Phrasal verbs consist of a basic verb + another word or words, usually a preposition or adverb. Example: speak (basic verb) + up (preposition)
Phrasal Verb:
cancel each other out [for the opposite effects of two things]
Meaning:
to balance each other.
Example:
The cost of the meal you bought and what I owed you cancel each other out, so we're even.