Credit note is a new concept that has been provided as a feature. This can be used in two probable scenario.
To add a credit note, please select the member and click the Payment Tab. Click the Manage button for the Payment Tab and Select "Credit Note"
Scenario 1 - During the process of becoming a member for a particular group or chapter, the potential members ended up paying more amount than desired; this happens mostly in cash transaction. In that case, once the admin gets to know that more money has been received than needed, the additional received amount received can be added as credit note for that member so that when he/she renews the membership, the person will pay an amount net off credit note.
Scenario 2 - The member can be surprised by adding the credit note to his/her account by the admin. This way, when the member renews his/her membership , the member will pay an amount net of credit note for his/her renewal. This can be used in place of discount code to be provided for a member. Just add the discounted fixed value as a credit note for the member and during the course of renewal, the member will pay net off credit note value.