UNIT CLOSE-OUT PROCEDURES Pacific Area Finance Training February 2008

2 Retail Associate (RA) Closeout  Print preliminary PS Form 1412 and any additional reports to support day’s business.  Verify PS Form 1412 entries against supporting documents.  Adjust AIC(s) as necessary  Review Money Order Report, check for sequentially omitted money orders and correct as needed.  Compare check list to checks; make necessary adjustments.  Count final funds to be deposited and complete deposit process.

3 Retail Associate (RA) Closeout (Cont.) Submit the following to close-out employee:  A correct preliminary PS Form 1412 with reports.  Supporting documents organized by type  The funds must remain with the RA until designated employee verifies deposit & initials the AIC 751/752 entry on the RA’s copy of PS Form 1412.

4 Retail Associate (RA) Closeout (Cont.)  For IRT sites, submit Money Order Vouchers.  Spoiled/voided money orders for destruction.  PS Form(s) 8105-A, Funds Transaction Transfer Report, and 8105-B, Suspicious Transaction Report. Print and sign final reports after approval, then logout of system.

5 Controls  All RAs must complete a system-generated final PS Form 1412  Deposits must be verified in the presence of each individual  Funds counted must match deposit total on associate’s individual final PS Form 1412  Remitted funds must be consolidated with a witness, for deposit to the bank  If no witness is available, only the office copy of deposit slip must be endorsed with “No Witness Available or NWA”

6 Controls (Cont.)  All funds remitted must be dispatched daily via Registered Mail service or Armored Courier Service.  Total remittance must match the deposit slip  Ensure that all RAs are consolidated prior to printing any final reports  Print unit preliminary/trial PS Form 1412 and any required reports; verify all reports to the trial PS Form 1412 and document any differences

7 Controls (Cont.)  Attach calculator tapes to multiple supporting documents and verify to corresponding AIC on the preliminary PS Form  Verify on Money Order report if any PS Forms 8105-A are required. If applicable, log and mail PS Form(s) 8105-A and 8105-B to the address at the bottom of the forms. Ensure PS Forms 8105-A & B are verified for the correct money order numbers issued, excluding the eleventh and final check digit number.

8 This is the Money Order Report for the Unit. POS and IRT tell you how many Forms 8105-A you should have for the day. Note that this unit has a process to show the form was sent. Money Order Report

9 Controls (Cont.)  Proper documentation must be completed for all error corrections and refunds.  Adjustments must be made, if necessary Print a Clerk Balance Report (CBR)  Verify that the total of the Cash Retained balances is equal to the total entered as AIC 753, Cash Retained Today, on the Unit 1412 (For POS ONE sites only)

10 Controls (Cont.)  Verify that the total Stamp Stock Accountability appearing in AIC 853, Stamp Stock Accountability Closing Balance, on the Unit 1412 is in agreement with the Unit Total Stamp Accountability on the Clerk Balances Report.  Print, sign, date and file Final Unit PS Form 1412 with supporting documentation.  For eMOVES sites ensure that clerk ending accountabilities plus unit reserve equals Unit 1412 AIC 853.

11 POS Units – Internally Balanced The last page of the Clerk Balances Report should look like this. You are required to verify that the unit is in- balance internally everyday. All you need to do is make sure this column is all zeros. Although it is very rare that these numbers are out-of- balance, it is possible. If you are ever out-of-balance, you have to call the Accounting Help Desk.

12 IRT Offices – Internally Balanced Verified on a daily basis. The Total Vault + Clerk AIC 853 on the Clerk’s Balances Report must match AIC 853 Stamps Close on the Unit This unit is in-balance internally. If you are out-of-balance, you need to identify the cause as soon as possible. Usually, the reason is stock was transferred out of one accountability but never accepted into another. It is important that all stock transfers be picked up timely. If you don’t monitor this, the clerk’s next audit will be off. Another reason could be you had a disk crash. Checking daily makes it much easier to fix the error.

13 Externally In Balance – ADM  Enter EDW  Enter user name and password (ACE login)  Accounting  Shared Reports  SAFR  Stock Ledger Reports  Stock Ledger Balances

14 ADM Report  Select time period  Select the cost center  Run the report

15 ADM Report (Cont.) To determine if you are out-of-balance externally, log into EDW. Go to Accounting > Shared Reports > SAFR > Stock Ledger Reports > Stock Ledger Balances. We are looking for the balance on February 9, 2006, so we pull the two days before and 2 days after to allow for stock shipments from the SDO. Then select Next.

Enter your 10-digit Unit ID (1), and click the Search Icon (2). When the screen refreshes, select your unit and move it to the right side box (3), and select Run Report (4). Run ADM Report

17 ADM Report and Unit IRT Compare AIC 853 from the Unit 1412 to the same date on the ADM report. This unit is also in-balance externally. You should verify this at least once per month.

18 ADM Report and Unit POS We are using the last page of the Clerk Balances Report for this example. You could get the information from the Unit Compare AIC 853 from the Unit’s 1412 to the same date in the ADM report. This unit is in-balance externally.