1. PS FORM 1412 BASIC REPORTING Pacific Area Finance Training February 2008

2. 2 Objectives  Define the purpose of the PS Form 1412.  Describe the purpose of each section of the PS Form 1412.  Explain the purpose of supporting documents and how they are entered on PS Form 1412.  Troubleshoot common problems with balancing the PS Form 1412.

3. 3 PS Form 1412

4. 4 Purpose of a PS Form 1412  PS Form 1412 is the beginning link in the chain of financial reporting.  PS Form 1412 is used to record all daily financial transactions.

5. 5 Reporting Requirements WHO: RA and Postmaster WHAT: Complete individual PS Form 1412 Individual PS Forms 1412 added together to create a Consolidated Unit PS Form 1412 WHEN: Close of each business day WHY: Summary of financial transactions for the entire unit/post office HOW: Data transmitted electronically

6. 6 Key Elements  Must contain the unit name, date, finance number and unit ID.  Labeled as individual or consolidated PS Form 1412.  Signature is required for each individual form to certify accuracy of data.  Documentation reflecting receipts & disbursements generated that day.  Close-out person required to sign consolidated PS Form 1412 after verification.

7. 7 Sections of the PS Form 1412  Receipts - Left side  Stamp Accountability - Right side  Disbursements - Right side Refers to manual PS Form 1412

8. 8 Left Side of PS Form 1412

9. 9 Left Side of PS Form 1412 (Cont.) Receipts AIC 001 – 400  Funds collected  Postal products and services sold during a business day  Revenue received What are some of the entries on the receipt side?

10. 10 Right Side of PS Form 1412

11. 11 Right Side of PS Form 1412 (Cont.) Stamp Accountability AIC 840 - 853 Contains the amount of stamps and money at the beginning (AIC 840) and end of the day (AIC 853). Some examples of fields in the stamp accountability section of PS Form 1412 are:  Stock Received (AIC 841)  Stock Returned (AIC 848)  Postage Sales (AIC 852)

12. 12 Right Side of PS Form 1412 (Cont.) Disbursements AIC 401 - 800 Items for which funds are paid out or transferred to bank. The disbursement section of PS Form 1412 is used for the following:  Trust Fund Withdrawals  Refunds (up to $500)  Cash Remitted  Credit/Debit Card Activity

13. 13 Your Responsibility ACCOUNTABILITY MATTERS!!!!! The PS Form 1412 MUST be balanced every day!!!

14. 14 What is an AIC? Account Identifier Code 3 digit code used on the PS Form 1412 Tracks revenue and expenses RULE OF 400  AICs 001 – 400 Receipts  AIC 400 – Cash required located on the receipt side  AICs 401 – 800 Disbursements  AIC 800 – Cash Accounted located on the disbursement side  AICs 840 – 853 Stamp Accountability

15. 15 What is a GLA?  GLA – General Ledger Account.  Used by Accounting Service Center (ASC) for revenue and expenses.  To process and track accounting data that originates from the PS Form 1412.  The AIC number corresponds to the GLA number. AIC 109, Postage Validation Imprinter GLA 41230109

16. 16 GLA – General Ledger Account Broken down by  Receipts 001 – 400  Disbursements 401 – 800  Stamp Accountability 840 - 853 AIC/GLA CROSSWALK

17. 17 AIC/GLA Crosswalk Related Reference Field Accounting Procedures http://blue.usps.gov/accounting/_pdf/draftFAP. pdf AIC – GLA Crosswalk http://blue.usps.gov/accounting/_xls/AIC- GLA_Crosswalk.xls

18. 18 Related References Financial Accountability and Reporting http://acs/financialtrainingreview/index.php (under construction) Handbook F-1 Section 2 http://blue.usps.gov/cpim/ftp/hand/f1/f1c2.pdf