What Does CM Stand For?
CM stands for Credit Memo
A Credit Memo (CM) is a financial document issued by a seller to a buyer, indicating a reduction in the amount owed by the buyer. It is often used to correct billing errors, process returns, or adjust customer accounts. The Credit Memo serves as an official acknowledgment of the adjustment and typically includes details such as the reason for the credit, the amount credited, and relevant transaction information. This document plays a crucial role in maintaining accurate accounting records and facilitating smooth financial transactions between businesses and their customers.
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Added on 20th July 2011 | Last edited on 16th June 2025 | Edit Acronym