On/Off switch for externally powered Arduino

Thank you for your response.

I have the Arduino mounted inside a box with 2 holes cut out for the power and usb connectors. I would like to have a switch mounted on the outside of the box to toggle the power to the board (so it doesn't need to be unplugged). Is it possible to connect the switch to the Arduino to toggle the power or will I need to do something else?

I'm not sure if I'm explaining it well, so I've attached a diagram.