In order to provide adequate control of inventory and timely refunds to customers, all product returns should comply with a set of clearly defined, detailed return procedures. This Sales Returns Policy provides a comprehensive framework for handling product returns and describes the necessary steps and documentation required to ensure effective inventory control. The policy mandates the preparation of a returned goods authorization form upon customer request for returns, outlines procedures for managerial approval, and details the inspection and accounting processes needed to finalize refunds. It emphasizes compliance with a 30-day money-back guarantee while delineating conditions under which returned items are subject to restocking fees or require additional approvals for credit issuance beyond this period, ensuring that both customer satisfaction and operational efficiency are maintained.

Some of the procedures outlined in this policy are as follows:

• Sales or sales administration, upon notification by the customer of the intent to return goods, will prepare a returned goods authorization form.
• The returned goods authorization form is forwarded to authorized management for approval and must be signed before a return is authorized. The return authorization number should be assigned, shared with the customer, and subsequently tracked. 
• Returns should comply with the company’s 30-day money-back-guarantee program.