For the seller, if they have an Accounts receivable for $800, then there will be a buyer who also has an Accounts payable with the same amount of $800. Whether we provide goods or services, we have to look at the financial transaction from both sides of it. If the business using accounting software, a credit memo can be automatically created with the same line items as the original invoice. The memo might also include other details like a reference to the invoice number, purchase date, payment terms, and reason for issuing the credit.
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