a transaction that decreases the amount a customer owes you
A record of the funds which have been credited to an account.
An accounting adjustment that reduces or eliminates the value of a receivable due to return, overcharge, etc. A document sent to an account debtor evidencing such an accounting adjustment.
an internal memorandum used by banks to increase the fund balance in an account containing a brief explanation of why the account was increased. A duplicate copy of the memorandum is forwarded to the customer with the regular bank statement.
The document sent to the customer approving that the goods returned by customer were received by your company.
A bank form (or memo) used by a bank to explain an addition to a depositor's bank account. (Note that the term "credit memo" may seem reversed to the depositor--- this is true because the transaction is a credit to the bank.)
Issued by a vendor to offset all or part of an invoice. Credit memos are for returned goods, or items the college was invoiced for but has not received.
A notice to a purchaser that the seller has decreased an amount owing to him; the effect is usually the reduction of an invoice previously rendered.
Writing off all or part of a customer's account balance. A credit memo would be required, for example, when a customer who bought merchandise on account returned some merchandise, or overpaid on their account.
The credit memo resembles a Vendor Invoice in every respect except that the gross amount is a credit to the University (i.e. a reversal of a charge or expense).
A Credit Memo (short for "credit memorandum") Is a commercial document issued by a Seller to a Buyer, indicating the products, quantities and agreed prices for products or services that the Seller provided the Buyer with, but Buyer returned or did not receive. It may also be issued in the case of damaged goods, errors or allowances. A Credit Memo can reduce or eliminate the amount that the Buyer has to pay the seller in respect of the original Invoice issued earlier.