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Hi Weng,

That is correct. If an overpayment has occurred then the amount will show up as a negative on the memo because it is due back to the company that has overpaid. Within the body of the memo you should explain the reason. Let me know if you have further questions.

-- Contributed by: Donna Sundblad

content of credit memo when overpaid by the customer...need to deduct the overpayment to the remaining account?

-- Contributed by: weng

Hi Elizabeth,

Any time the bank acts as a collecting agent for you (as their customer) and receive funds in youâ€™re your name, it is the bank's responsibility to credit your account. When this happens, a credit memo will show up on your bank statement. This will be recorded as an increase on the balance side of your reconciliation statement. As for the unknown origin, you'll have to check with your bank to ask them about that.

-- Contributed by: Donna Sundblad

We received money in our check account...unknown origin. It says "memo credit" beside the $. What does this mean?

-- Contributed by: elizabeth

Hi Kevin,

We are happy to have provided the information you're looking for. Thank you for visiting LoveToKnow Business.

-- Contributed by: Donna Sundblad

Thanks for the helpful insight. Kevin Devoto

-- Contributed by: Kevin Devoto

Hi Nais,

Glad we could be of help. Thanks for reading LoveToKnow Business.

-- Contributed by: Donna Sundblad

this page helps me alot in creating credit memo.. thanks!! more power