A credit note or credit memorandum (memo) is a commercial document issued by a seller to a buyer. The seller usually issues a credit memo for the same or lower amount than the invoice, and then repays the money to the buyer or sets it off against a balance due from other transactions.
It can also be a document from a bank to a depositor to indicate the depositor's balance is being increased because of an event other than a deposit, such as the collection by the bank of the depositor's note receivable.
Famous quotes containing the words credit and/or note:
“Japanese mothers credit “effort” as the key determinant of a child’s achievement in school, while American mothers name “ability” as the more important factor.”
—Perry Garfinkel (20th century)
“Poor old Jonathan Bing
Went home and addressed a short note to the King:
If you please will excuse me
I won’t come to tea;
For home’s the best place for
All people like me!”
—Beatrice Curtis Brown (1901–1974)