Credit note
A vendor document that reduces or reverses a previous invoice.
Definition
A credit note (or credit memo) is a document issued by a vendor that reduces the amount owed on a previous invoice — for example for returned goods, an overcharge, or a pricing correction. In SpanFin, credit notes appear as negative-amount invoices.
Why it matters
Credit notes are frequently missed or never applied, leaving money with the vendor. They also matter for audit accuracy: an invoice re-issued with a matching credit note is a legitimate correction, not a duplicate.
How SpanFin helps
SpanFin detects orphan credit notes (credits with no matching refund or application), refunds with no matching credit note, and uses matching credit notes to suppress legitimate invoice re-issues from duplicate findings.
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