Everyday operations of a business involves the sending out of company memos. Business memos help companies communicate internally and with other entities or companies. Memos such as a credit memo form a vital part of a company’s daily operations.
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A credit memo is a short document issued by a seller to a buyer lowering the amount owed or his accounts payable from a previous invoice. Credit memos are normally used when a buyer receives damaged, incomplete, or simply the wrong product. Credit memos are also used in giving a pre-negotiated discount to an issued invoice.
Sample memo and business memo examples seen on the page provide further information regarding credit memos and memos in general. Be sure to check out the other examples from parts of this site.
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Professional Memo examples in PDF shown in the page can assist you in understanding a credit memo better.
The main difference between a debit memo and a credit memo is that a debit memo is issued by the buyer and the credit memo issued by the seller or supplier.
A credit memo reduces the total balance of a buyer’s account. The process is usually started when a buyer issues a debit memo planning to reduce his balance with a discount due either to damaged or wrong goods. The buyer would wait for the seller to issue a credit memo verifying agreement to the debit memo.
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A credit memo is important because of the following three reasons:
Memo examples in Word are shown in the page to assist you in the better understanding of a credit memo. Just click on the download link below a sample to access the sample.
