No, you can also do it as "trick", called a power-off. It sounds quite nice when you do it at the end of a set

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most tables are actually made specifically so you can do this, as its the only way you can stop the the platter without the automatic braking kickin in (at least on mine it is). If you notice, even though the power on the table is off, you still get sound through the mixer.

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No one's calling for me at the door.
And unpredictable won't bother anymore.
And silently gets harder to ignore.
Look straight ahead, there's nothing left to see.
What's done is done, this life has got it's hold on me.
Just let it go, what now can never be.

the only time turntables will screw up if you turn it off like that is when turntables will have to be "booted up" like a computer lol