Purchase Credit Memo (CR/Adj Note)

A purchase credit memo (CR/Adj note) is a document utilised to document reductions in owed amounts to vendors due to various reasons like returned goods, price adjustments, or discounts, serving as records for adjustments in purchasing activities, ensuring financial transparency, and providing a clear paper trail for transactions such as returns, refunds, or purchase order corrections.

A purchase credit memo (CR/Adj note) is a document that is used to record a reduction in the amount owed to a vendor. This reduction can occur for various reasons, such as returning goods, adjusting prices, or applying discounts.

Purchase CR/Adj notes serve as records of these adjustments, ensuring accurate tracking of purchasing activities and maintaining transparency in the company's financial records.

They help document transactions like returns, refunds, or corrections to purchase orders, providing a clear paper trail for all purchasing-related adjustments.