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:
“One must credit an hypothesis with all that has had to be discovered in order to demolish it.”
—Jean Rostand (1894–1977)
“I note that the Africa loves to depict the grace of reptiles.”
—Zora Neale Hurston (1891–1960)