Post Office Accounting Procedures Contents

Transcription

1 Post Office Accounting Procedures Contents UPDATE NOTICE TRANSMITTAL LETTER CONTENTS ACRONYMS AND ABBREVIATIONS 1. GENERAL INFORMATION 2. FINANCIAL REPORTING PROCEDURES 3. MANAGING POSTAL FUNDS 4. MANAGING ACCOUNTABLE PAPER 5. TRUST, SUSPENSE, AND AUDIT DIFFERENCES APPENDIXES A ACCOUNT IDENTIFIER CODE AND GENERAL LEDGER ACCOUNT CROSSWALK B NUMERICAL LISTING OF FORMS WITH RETENTION PERIOD C STANDARD FIELD ACCOUNTING PROCEDURES D INFORMATION CROSSWALK E FORMS INDEX GLOSSARY INDEX 6. DISBURSING POSTAL FUNDS 7. ACCOUNTING FOR NONSTAMP REVENUE 8. ACCOUNTING SERVICE CENTER ACTIVITIES

2 Update Notice Handbook F-1 Post Office Accounting Procedures (Note: The vertical bars adjacent to the text in the online Handbook F-1 indicate Postal Bulletin updates have been incorporated.) Handbook F-1, Post Office Accounting Procedures, originally published November 1996, has been updated with Postal Bulletin articles through November 18, 1999, as follows: Payroll Disaster Contingency Plan Postal Bulletin 22008, October 7, Stamp Credits Postal Bulletin 22008, October 7, 1999 Appendix A Account Identifier Code Changes Postal Bulletin 22007, September 23, Debit Card Cash Back Transaction, Postal Bulletin 22006, September 9, Postal Funds, Postal Bulletin 22000, June 17, Credit and Debit Cards, Postal Bulletin 21998, May 20, Processing Specific Categories of Stamp Stock, Postal Bulletin 21998, May 20, Resolving Differences When PVI and AIC 109 Are Out of Balance, Postal Bulletin 21998, May 20, 1999 Appendix A Account Identifier Codes and General Ledger Account Crosswalk, Postal Bulletin 21998, May 20, 1999 Exhibit Stamps and Stationery Ordering Quantities, Postal Bulletin 21997, May 20, Handling Stamp Credits for Special Use, Postal Bulletin 21994, March 25, Process Specific Categories of Stamp Stock, Postal Bulletin 21994, March 25, Handling Postage and Fees, Postal Bulletin 21994, March 25, Determining the Amount Due the Customer, Postal Bulletin 21994, March 25, 1999

3 715.3 Resolving Differences When PVI and AIC 109 Are Out of Balance, Postal Bulletin 21994, March 25, Overage, Postal Bulletin 21993, March 11, Clearing Trust Items, Postal Bulletin 21993, March 11, Emergency Salary Procedures, Postal Bulletin 21993, March 11, 1999 Exhibit , Claim For Loss, Postal Bulletin 21993, March 11, 1999 Exhibit 213, AIC Amount Multiples, Postal Bulletin 21992, February 25, Reviewing Non SFAP Statements of Account, Postal Bulletin 21991, February 11, 1999 Appendix A Account Identifier Code changes Postal Bulletin 21988, December 31, 1998 Appendix A Account Identifier Code changes Postal Bulletin 21987, December 17, 1998 Appendix A New Account Identifier Codes Postal Bulletin 21985, November 19, International Reply Coupons Postal Bulletin 21984, November 5, Accountability Stamp Stock Limits (For Main Stock/Unit Reserve) Postal Bulletin 21980, September 10, Obtaining Stamp Stock for Local Mailing Tests (revised procedures) Postal Bulletin 21976, July 16, New Tolerances for Money Order Reconciliations Postal Bulletin 21976, July 16, 1998 Appendix C, section C43.12 Rescission of Direct Ordering of Bulk Stamp Stock Post Offices Under Standard Field Accounting Procedures (SFAP) Postal Bulletin 21974, June 18, 1998 Exhibits of Forms 2131 and 2134 Correction to format of address label. Postal Bulletin 21972, May 21, 1998 Miscellaneous Corrections Handbook F-1 Available Online. Postal Bulletin 21971, May 7, 1998

4 32 Collecting Nonsufficient Fund (NSF) Checks and Express Mail Corporate Accounts (EMCAs). Postal Bulletin 21968, March 26, through 791 Miscellaneous Corrections. Postal Bulletin 21968, March 26, Migratory Bird Stamp Disposition. Postal Bulletin 21964, January 29, and 526 New Form 1412 and Banking Tolerance Level. Postal Bulletin 21961, December 18, Vending Machine AIC 612 Update. Postal Bulletin 21960, December 4, Closing an Inactive Trust Account. Postal Bulletin 21955, September 25, New Salary Checks. Postal Bulletin 21955, September 25, Personal Checks. Postal Bulletin 21954, September 11, 1997 Exhibit Stamps and Stationery Bulk Ordering Quantities. Postal Bulletin 21951, July 31, through 848 Miscellaneous Revisions. Postal Bulletin 21944, April 24, Correct Address for Money Order Branch. Postal Bulletin 21944, April 24, Unnumbered Insured Articles (correction). Postal Bulletin 21943, April 10, Unnumbered Insured Articles. Postal Bulletin 21941, March 13, Submission Requirements for Form Postal Bulletin 21940, February 27, 1997

5 Post Office Accounting Procedures Handbook F-1 November 1996 A. Explanation. This is a complete revision of Handbook F-1, Post Office Accounting Procedures. All changes published in the Postal Bulletin from Transmittal Letter 16 through November 21, 1996 are included. These changes are detailed in Appendix D, Information Crosswalk. This handbook also includes procedures for the Integrated Retail Terminals (IRT) and for the Standard Field Accounting Procedures (SFAP). B. Revision. This revision replaces all previous editions of Handbook F-1. The following handbooks are abolished as of this publication: 1. Handbook F-47, Symbol 9500 Accounting Checks, Transmittal Letter Handbook F-48, Bulk Requisitioning and MSC Accountable Paper Functions, Transmittal Letter Handbook F-49, Federal Food Coupons, Transmittal Letter Handbook F-50, Examination of Stamp Credits and Main or Unit Reserve Stock, Transmittal Letter 1. C. Distribution 1. Initial. This document is being distributed to all appropriate Headquarters, Areas, Districts, and Business Mail Entry Units personnel; all CAG A L post offices; and all classified stations and branches. 2. Additional Copies. Order addtional copies from the material distribution centers on Form 7380, MDC Supply Requisition. D. Comments and Questions. Address any comments or questions to: POST OFFICE ACCOUNTING US POSTAL SERVICE 475 L ENFANT PLAZA SW ROOM 8831 WASHINGTON DC E. Effective Date. This revision is effective upon receipt. Richard Porras Vice President and Controller Finance

6 Contents Acronyms and Abbreviations xxix 1 General Information What This Handbook Covers Before You Start Reading Accounting Responsibilities Basic Accounting Responsibilities Guidelines for Delegation Keeping Duties Separate Exception Guidelines for Verifying Data Verifying the Statement of Account Reporting False Entries Liability for Financial Losses Other Employees Liability Demanding Payment for Losses Protecting Accountable Papers and/or Items Accountable Paper Security Postmaster and Station or Branch Manager Postmaster or Supervisor All Employees Handling Accountable Paper Postal Funds Keeping Custody POS ONE Cash Drawer Making Deposits Making Withdrawals Controlling Accountable Receipts Defining Recording by the Accountbook Unit Processing Spoiled or Voided Forms Applying Financial Controls Accounting Service Centers Inspection Service Post Offices Making the Transition From Manual to Automated Preparation of Financial Documents iii

7 Post Office Accounting Procedures 2 Financial Reporting Procedures Policies and Background Information Overview Responsibilities Post Office District Financial Reporting Terms Daily Financial Report (Form 1412) Accountbook (Form 1551 Series) Preliminary Instructions for Postmasters Making Initial Entries Statement of Account (Form 1555) Variations in Financial Reporting Procedures Financial Reporting Procedures Preparing Daily Financial Report IRT Units Preparing the Individual Clerk Form Finalizing the Individual Clerk Form Consolidating the Individual Form 1412 and Preparing a Unit Form 1412 Designated Employee Non-IRT Units Preparing the Individual Clerk Form Finalizing the Individual Clerk Form Consolidating the Individual Form 1412 and Preparing a Unit Form 1412 Designated Employee Submitting Documents Designated Employee Units Using SFAP Units Not Using SFAP (Including Contract Units) Posting the Accountbook District Accounting Office SFAP Units Postmaster Non-SFAP Units Starting a New PFY, AP, or PQ Making Daily Entries Balancing the Accountbook Posting Cumulative Totals Completing Form 1551-D Using the IRT-Generated Daily Financial Statement Preparing the Statement of Account District Accounting Office SFAP Units Postmaster Non-SFAP Units Completing Heading Entries iv

8 Contents Completing the Face of Statement of Account Completing the Reverse of the Statement of Account Making Other Entries to Statement of Account Finalizing the Statement of Account Random Verification Procedures IRT Units Using SFAP Non-IRT Units Using SFAP Managing Postal Funds Acceptable Payment for Postal Goods and Services Cash Redemption and Storage of Foreign Coins Personal Checks Accepting a Personal Check at Retail Units Accepting a Personal Check at Business Mail Entry Units Identifying Maker of Personal Checks Refusing Personal Checks Accepting Other Types of Checks Accepting Guaranteed Payment Checks Accepting Checks From Government Agencies Accepting Checks From Well-Known Businesses Accepting Checks From Less Well-Known Businesses Accepting Traveler s Checks Items That May Be Cashed Cashing Domestic Postal Money Orders Cashing Other Postal Money Orders Cashing USPS Commercial Checks Cashing Treasury Checks Endorsing Checks for Deposit Depositing Postal Funds Credit and Debit Cards Types of Cards Accepted Credit Cards Debit Point of Service Network Cards Accepting Cards at Retail Unit Accepting a Credit Card Accepting a Debit Card Disputed Charges Offices Maintaining Accountbooks Issuing Refunds v

9 Post Office Accounting Procedures Overcharges Debit Cards Overcharges Credit Card Overcharges Funds Not Acceptable for Payment Collecting Returned Checks From the Bank Collecting on Returned Checks Assessing Surcharges for Returned Checks Handling Exceptions Sending a Returned Check to the Collection Agency Responsibility Processing a Returned Check Making Payments Locally Showing Errors Made by Bank Funds Received Cash Reserves Bank Account Relationships Establishing Bank Accounts Protecting Postal Funds Processing Bank Service Charges Changing Bank Name or Account Number Handling Correspondence Handling Deposit Shortages Depositing Funds Banking and Nonbanking Post Offices Making Deposits Preparing Deposits Delivering Deposits Handling Missing or Destroyed Deposits Processing at a Nonbanking Post Office Processing Electronic Funds Transfer Bank Account Maintenance Bank Transaction Record Banking Post Offices Making a Deposit Preparing Credit and Debit Memoranda Transfer of Funds Banking Post Offices Transferring Postal Funds to the U.S. Treasury Criteria Governing Calls Verification Code Recording Entries Verifying Deposit Slips Banking Reconciliations Requesting Bank Statements vi

10 Contents 352 Procedures for Bank Reconciliation Reconciling Manually Processing Automated Reconciliation Adjustments for Discrepancies Reconciling at Banking Post Offices Preparing Debit Memoranda Preparing Credit Memoranda Reconciling at Nonbanking Post Offices Prior Postal Quarter Fund Transfer Errors Nonzero Balance Listings Discrepancy Action Reconciling Statements Collecting Postal Funds Collection Procedures of Monies Demanded Bargaining Unit Employees Nonbargaining Unit Employees Percentage Limitations Payroll Deductions to Liquidate Indebtedness Voluntary Deductions Involuntary Deductions Protecting Postal Funds Overnight Storage When Closed Protecting Funds in an Office With Vault, Security Container, or Safe Using Lights Over Safe or Vault Protecting Funds in an Office Without Safe, Security Container, or Vault Securing Funds in an Office Without Protection Securing Doors, Windows, and Wickets Securing Combinations and Keys Using Form 3977, Duplicate Key Envelope Protecting Combinations and Duplicate Keys Securing Stations and Branches Securing the Main Office Keeping Inventory of Sealed Envelopes Handling Loss or Unauthorized Opening of Envelopes Setting and Changing Combinations Securing the Combination Lock Handling Master Keys to Safe Combinations vii

11 Post Office Accounting Procedures 4 Managing Accountable Paper Policies and General Information Overview Responsibilities Accountable Paper Terms Types of Accountable Paper Activities of Reporting Units Stamp Distribution Offices Accountable Paper Depositories Stamp Distribution Networks National Stamp Depository Philatelic Centers Stamp Fulfillment Services Accountable Paper Systems Securing a Place for Accountable Paper Securing by the Postmaster and Station or Branch Manager Securing by the Postmaster or Supervisor Securing by All Employees Handling Accountable Paper Stock Records Managing Accountable Paper at Stations, Branches, and Post Offices With Stamp Accountability Transfer of Accountability Accepting Custody Postmaster or Stamp Stock Custodian Protecting Stamp Stock Establishing Stamp Stock Limits For Main Stock/Unit Reserve Stock Limits Exclusions to the Stock Limits For Window Clerks Determining Stamp Stock Quantities Handling Main Stamp Stock Offices Served by a Stamp Distribution Office Automatic Shipments of Stamp Stock Ordering From the SDO Ordering Stamp Stock and Philatelic Items Ordering Domestic Money Orders Ordering International Money Orders Ordering Bait Money Orders Placing Emergency Orders From the SDO Transfer of Stock Between Post Offices (Emergency Only) Non-SFAP Offices viii

12 Contents SFAP Units Ordering Stock in Bulk Quantities Ordering Stamp Stock Ordering Postal Cards Ordering Stamped Envelopes Receiving and Accounting for Stamp Stock Received Handling Advice of Shipment Examining the Shipment Handling Shortages and Damaged Stamp Stock Reporting Shortages in Sealed Packages Reporting Shortages Reporting Damaged Stock Adjusting for Shortages Handling Overages in Stamp Stock Handling Defective Stock Handling Unit Reserve Stamp Stock Offices Served by a Stamp Distribution Network Automatic Shipments of Stamp Stock Ordering From the SDN Ordering Stamp Stock and Philatelic Items Ordering Domestic Money Orders Ordering International Money Orders Ordering Bait Money Orders Placing Emergency Orders Receiving and Accounting for Stamp Stock Received Examining the Shipment Handling Shortages and Damaged Stamp Stock Identifying Shortages In Stock From Sealed Packages Reporting Shortages Reporting Damaged Stock Adjusting for Shortages Handling Overages in Stamp Stock Handling Defective Stock Ordering and Receiving Stamp Stock From the Main or Unit Reserve Stock Replenishing Stock Window Clerks Replenishing Unit Reserve Stock Filling Requisitions From the Main or Unit Reserve Stock Scheduling Requisitions Assigning Responsibilities Preparing Requisitions Supply Clerk Making a Withdrawal From Main Stock Main Stock Custodian ix

13 Post Office Accounting Procedures Preparing a Shipment Supply Clerk Keeping Stamp Stock Records Supply Clerk Carrying Out Accountbook Unit Procedures Procedural Exceptions at Stations Handling Stamp Credits Defining Stamp Credits Protecting Stamp Credits Consigning Stamps Into Credits Consigning by Postmasters or Supervisors in Offices Without Stations and Branches Consigning in Offices With Stations and Branches Consigning to Rural Route Carriers Handling Stamp Credits for Special Use Initiating a Stamp Credit Cash Window Clerks Contractors Stations Limit on Main Stock Sales Issuing Stamp Stock Recording Stamp Credits Closing a Stamp Credit Postmaster or Supervisor Maintaining Accountability Maintaining Unit Reserve Stock Maintaining Station Stamp Accountability Handling Stamped Envelope Discount and Revaluation Recording Plain Stamped, Window, and Nonprofit Stamped Envelopes Recording Sale of Full Boxes to Customers at Discount Revaluating Stamp Stock Handling International Reply Coupons General Window Clerks Unit Reserve Main Stock Annual Submission to the ASC Accountbook Procedures for Non-IRT Units Accountbook Procedures for IRT Units (Non-SFAP Offices) Annual Submission Procedures for SFAP Offices Handling Migratory Bird Hunting and Conservation Stamps Window Clerk Reporting Station Reporting Post Office Reporting x

14 Contents Reporting With Stamp Credits Reporting With Main Stock Sales Philatelic Outlet Reporting Unsold Bird Stamps Keeping Records for Bird Stamps Sold for Resale Submitting Unsold Bird Stamps Maintaining Total Stamp Accountability Accounting at Post Offices With Stamp Credits Accounting at Post Offices With Main Stock Sales Verifying the Ending Accountability Verifying at the Accountbook Level Verifying at the Station or Branch Level Verifying at the Contractor Level Verifying Stamp Stock Records Verifying At Offices With Stamp Credits Verifying At Offices With Main Stock Sales Handling Returned Stamp Stock Returning Stamp Stock Accounting for Stock Returned to the SDO or SDN Handling Stamp Stock Destroyed Stations and Branches to Non-SFAP Offices Clerk Supervisor of Stamp Stock Procedures for Contract Stations, Stations and Branches of District Offices, SFAP Offices Procedures for Non-SFAP Offices Obtaining Stamp Stock for Local Mailing Tests Obtaining Stock for Promotions or Presentations Obtaining Stock Locally Obtaining Stock From Stamp Fulfillment Services Handling Additional Stamps etc. Catalogs Conducting Examinations Examining a Stamp Credit Scheduling Examinations Forms to Be Used Preparing the Count Doing the Physical Count Examining Stamp Stock Reconciling Stamp Credit Completing the Examination Doing the Post Examination xi

15 Post Office Accounting Procedures Examining a Main or Unit Reserve Stock Accountability Managing the Stock Doing the Physical Count Handling Overages and Shortages Examining Contract Postal Units Examining Stamp Vending Equipment Managing Accountable Paper at a Stamp Distribution Office Responsibilities Transfer of Accountability Requisitioning Stamp Stock Filling Requisitions Scheduling Requisitions SDO Supervisor Separating the Duties for the Stamp Distribution Clerks SDO Supervisor Separating the Requisitions Sorting Requisitions Stamp Distribution Clerks Batch Review SDO Supervisor Developing the Daily Source File SDO Supervisor Withdraw Stamp Stock From the Main Stock SDO Supervisor Ship Stamp Stock Stamp Distribution Clerk Processing a Daily Report SDO Supervisor Handling Automatic Stamp Stock Shipments Receiving Automatic Stamp Stock Shipping Automatic Stamp Stock Handling Automated Shipment Listings Changing the Automated Listing Handling Discrepancies in Stock Received Reporting Shortages Accounting for Stock Received Shortages Dealing With Excessive Shortages Reporting Overages Handling Defective Stock Reporting Requirements Accounting for Defective Stock Handling Accountable Paper Returns Receiving Salable Stock Receiving Migratory Bird Stamps Selling Period and Quantities to Order Disposing of Unsold Bird Stamps Accounting for Unsold Bird Stamps Receiving International Reply Coupons xii

16 Contents Defining an IRC Defining a U.S.-Issued Refunded IRC Defining an Exchanged IRC Accounting for Returned IRCs at the SDO Destroying Stamp Stock Handling Money Orders Receiving Domestic Money Order Sets Storing Blank Money Order Sets Distributing Money Order Sets Handling Bait Money Orders Distributing Bait Money Orders Bait Money Order Program Instructions Recording Penalty Mail Stamps Managing Accountable Paper at a Stamp Distribution Network Responsibilities Changing from an SDO to an SDN Receiving and Recording Shipments Receiving Accountable Paper Verifying Stock Shipment Recording Advice of Shipment Entering Stamp Stock Into Inventory Filling Requisitions Scheduling Requisitions Separating Duties Processing Requisitions Creating Sessions Developing the Daily Session File Withdrawing Stamp Stock From the Vault Shipping Stamp Stock Making a Daily Report of Shipments Processing the Daily Close-Out Handling Automatic Shipments Handling Discrepancies in Stock Received Reporting Shortages Handling Stock Received Shortages Offices Receiving Stock from SDN Handling Stock Received Shortages SDN, SFAP, and Non-SFAP Offices Reporting Excessive Shortages Reporting Overages Handling Defective Stock Reporting Defective Stock Accounting for Defective Stock xiii

17 Post Office Accounting Procedures Handling Stamp Stock to be Destroyed SDN Stamp Stock Return Committee SDN Manager Handling Accountable Paper Returns Receiving Salable Stock Receiving Migratory Bird Stamps Selling Period and Quantities to Order Disposing of Unsold Bird Stamps Accounting for Unsold Bird Stamps Receiving International Reply Coupons IRC Definition U.S.-Issued Refunded IRC Definition Exchanged IRC Definition Accounting for Returned IRCs at the SDN Handling Money Orders Domestic Money Order Sets Storing Blank Money Sets Distributing Money Order Sets Bait Money Orders Storing and Shipping Bait Money Orders Further Instructions for the Bait Money Order Program Destroying Stamp Stock Responsibility for Stamp Stock Destruction Offices Under SDO Offices Under SDN Procedures for Withdrawing Stamp Stock All Post Offices and SFAP Reporting Units Processing Specific Categories of Stamp Stock Notification for Withdrawing Stock Determining Stamp Stock Values Stamp Stock Destruction Committee Responsibilities Composition of the Committee Duration of a Term Resigning from the Committee or Removing a Member Destroying Stamp Stock (Destruction Committee) Receiving Stock Determining Methods of Destruction Destroying Stock Handling Discrepancies in Stock to Be Destroyed Managing Accountable Paper at the District Accounting Office xiv

18 Contents 461 Handling Bird Stamps DAO Under an SDO DAO Under an SDN Handling International Reply Coupons DAO Under an SDO DAO Under an SDN Handling Stamp Stock Destruction Procedures DAO Under an SDO DAO Under an SDN Reviewing Non-SFAP Statements of Account Managing Accountable Paper at Offices with Unit IRTs an Cash Registers Under Unit Accountability Policies and General Information Responsibility Existing Procedures and Policies Accepting Credit and/or Debit Cards Protecting Entrusted Funds Tracking Merchandise Assigning Individual Clerk Cash Credits Cash Reserve Assigning Unit Inventory Handling Loose Stock Defining Loose Stock Setting Limits Establishing Individual Quantities Securing Loose Stock Accounting for Loose Stock Replenishing Stock Handling Bulk Stock Bulk Stock Definition Controlling Bulk Stock Unit Accountability General Information Keeping Inventory of Items Setting Up Unit Reserve IRT Setting Up Clerk IRT Disk Unit Reserve Accountability Reporting Sales Daily Close-Out Procedures Closing Out the Cash Register Closing Out the Full-Service Window Closing Out By the Postmaster, Manager, or Designated Close-Out Employee xv