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What is a credit note?

September 8, 2010


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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.

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