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Finance
Credit Note
A document acknowledging that a credit has been made to an account, often for refunds or adjustments.
Credit notes are essential for accurate accounting and ensure both parties have clear records of adjustments.
Credit notes are like receipts saying, ‘We’ve added money back to your account.’
Real world: A customer returning merchandise receives a credit note for the refund amount.
💡 Credit notes formally document money credited to an account.