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:
“Laws remain in credit not because they are just, but because they are laws. That is the mystic foundation of their authority; they have no other.”
—Michel de Montaigne (1533–1592)
“No, in your rural letter box
I leave this note without a stamp
To tell you it was just a tramp
Who used your pasture for a camp.”
—Robert Frost (1874–1963)