Effective April 28, 2007, Post Offices™ and postal retail units will no longer use account identifier code (AIC) 095, Stamps on Consignment Replenishment Sales, to report stamps on consignment sales. AIC 095 will be deactivated and placed on reserve list to assist offices with the closure of stamp accountabilities after many of the local consignment agreements expire. The expiration of local stamp consignment agreements was authorized by Headquarters Corporate Supply Management with a memo dated December 2, 2004, with the subject of Rescission of Delegation of Authority — Local Stamp Consignment Agreements.
1. Post Offices and postal retail units must not attempt to close any remaining local agreements. Post Offices and postal retail units must notify the Stamps on Consignment Program Office via e-mail (Stamps on Consignment program) of any remaining local stamp consignment agreements.
2. The Stamps on Consignment Program Office will provide local Post Offices and postal retail units with directions and additional communication on what procedures will be taken to notify the consignee of the legal closure of the local Stamps on Consignment agreement.
Once the legal termination process has been completed and the Post Office and postal retail units have received any funds for any outstanding amount and/or return of unused stamps, the unit must close all stamp credit accountabilities related to these Stamps on Consignment. To properly close out these Stamps on Consignment stamp credits, each individual office must determine how these stamp credits are accounted for at their units. These may be accounted for as part of the unit reserve stamp stock or as an individual credit.
For consignments that are accounted for as part of the unit reserve stock, upon receipt of funds and/or unused stamps, the unit reserve custodian must do the following:
1. Ensure the amount matches the pending amount in the agreement.
2. Physically include the stamps as part of the unit reserve stock.
3. If funds are received, issue funds to a retail associate as a stamp requisition using PS Form 17, Stamp Requisition/Stamp Return:
a. The retail associate will enter the amount on their PS Form 1412, Daily Financial Report, into AIC 841, Stamp Stock Received.
b. Enter the amount into AIC 090, Postage Stock Sales.
c. Remit the amount as a bank deposit.
For consignments that are accounted for as an individual credit, the supervisor, upon receipt of funds and/or unused stamps, must do the following:
1. Ensure that the amount matches the pending amount in the agreement.
2. Enter the amount of the funds received in the individual credit PS Form 1412 into AIC 090, Postage Stock Sales.
3. Remit the amount as bank deposit.
4. Enter the stamp portion in the individual credit PS Form 1412 into AIC 848, Stamp Stock Returned.
5. Return stamps to the unit reserve custodian.
6. Ensure that the closing balance for the individual credit accountability (AIC 853) is zero.
7. Perform a final PS Form 1412 for this individual credit.
8. Completely close out or deactivate this individual credit.
— Retail Access Channels, Delivery and Retail and Revenue and Field Accounting, Finance, 3-29-07
