Memo Templates

Credit Memo Template

Credit memos are necessary in any company in operation with many departments or branches. A credit memo functions like a sales invoice where one department or branch is ‘credited’ or ‘paid’ for some services rendered or goods passed on to another department or branch of the same company.

Hence, a credit memo is an internal billing within the company to record one department/branch’s services or sales to another department/branch of the same company.

There may not be any physical payment when a credit memo is raised by one department to another. However, the internal accounts track the transaction between the departments to monitor the flow of finances and workload between the departments or branches of the company.

A credit memo template may contain similar columns of information that is found on an invoice template, such as:

* Department or Branch name

* Department or Branch address & contact information

* Credit memo number

* Date of Issue

The credit memo also records information such as reason for raising a credit memo, so that the internal auditor is able to track this activity or internal transaction.

The body of the Credit memo template is similar to an invoice body with the following columns of information:

* Item

* Description

* Quantity

* Unit Price

* Total Price

A credit memo may contain the department head’s name and signature to indicate his approval of such a memo raised from his department to another.

Consider the attached sample template for your convenience.

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