Issued by a seller to a purchaser to record the reduction of a bill because of an allowance, return or cancellation. Opposite of an invoice.
An Adjustment Note which can be redeemed for goods to the value stated.
A sales invoice in reverse. A typical example is where you issue an invoice for £100, the customer then returns £25 worth of the goods, so you issue the customer with a credit note to say that you owe the customer £25.
Formal notice that a customer’s account with a supplier has been credited with a specific amount. The credit may have arisen because the customer has returned faulty goods, or was supplied less than the amount invoiced for.
A document given for the return of goods equal to the value paid or charged for them. Typically issued by suppliers to retailers for shortages of stock which have been charged on an invoice, or from retailers to customers for stock which may not be replaceable, e.g. exclusive lines or deleted lines.
A credit note is a monetary instrument issued by a seller that allows a buyer to purchase an item or service from that seller on a future date. Credit notes may be issued by a seller as a goodwill gesture to a buyer who wishes to return previously purchased merchandise (instead of cash repayment) in circumstances where the original sales agreement did not include an explicit refund policy for returned items. In such circumstances, a credit note of value equal to the price of the returned item is usually issued allowing the buyer to exchange his purchase for other items available with the sale.
