Definition, Meaning & Synonyms
credit-memo
Noun
/ˈkrɛdɪt ˈmɛmoʊ/
Definition
A credit memo is a document issued by a seller to the buyer, reducing the amount owed by the buyer.
Examples
- After the return of the damaged item, the store issued a credit memo to the customer.
- The accountant recorded the credit memo to adjust the customer’s balance.
Meaning
Typically issued in situations where the buyer returns goods, receives a discount, or when there is a billing error.
Synonyms
- Credit note
- Debit memo (in some contexts)
