credit memo
Seller's debt acknowledgment
A credit memo is a document issued by a seller to a buyer reducing the amount owed.
It's essentially the opposite of an invoice—instead of requesting payment, it acknowledges that money is owed back.
Credit memos typically result from returned merchandise, billing errors, or price adjustments: The vendor issued a credit memo for the damaged shipment.
Also called credit memorandum or credit note.
- refundMoney returned after purchase
- adjustmentAlteration to improve fit
- balanceSteadiness or amount owed
- balance dueRemaining sum unpaid
- returnGo back again
price adjustment · return policy · reimbursement · accounts receivable · account · deduction · void · reversal · discount · allowance · ledger · general ledger · accounting · reconciliation · overpayment · correction · write off · bookkeeping
credit memodebit memo
Notice of added charges
debit note · invoice · sales invoice · bill · charge
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