That’s it! vs That’s that!

Hi

That’s it!
That’s that (then)!

As I understand, both the conversational expressions are used in conversation to say ‘OK, now we’ve finished, that is the last thing and that is agreed’.
Right?

Could you explain the difference, if any?

Tamara

Hi Tamara,

That’s it could be: That’s just what I was looking for - you’ve found something in a shop you’ve been looking for.

or it could be the prelude to an outburst: That’s it - I’ve had enough and I’m going home. Good bye!

or it could be: I think we’ve finished now.

That’s that ( plus often: and all about it) suggests a conclusion said with an air of resignation because you cannot proceed any further as in: You have applied for a mortgage and nobody offers you one and you realise there’s no hope of getting one and so your comment is: Well, that’s that then.

Alan

Hi,

So, as I understand, when used in some negotiation process, the second (‘that’s that’) indicates the complete end,
whereas the first one (‘that’s it’) can just indicate ‘it’s OK and enough for (by?) now’.

Thanks.