Effective immediately, Handbook F-101, Field Accounting Procedures, is revised to update the procedure for preparing bank deposit tickets in the presence of a witness. Cost ascertainment group (CAG) A through G offices must have a witness verify the bank deposit ticket unless they have a deviation approved in writing by the district Finance manager (DFM). CAG H through L offices are not required to have a witness verify the bank deposit if one is not available.
Postal retail units (PRUs) are to discontinue writing “NWA” on the bank deposit ticket when a witness is not available to verify the deposit.
It is the responsibility of the postmaster or unit manager to ensure proper procedures are followed in preparing daily bank deposits by monitoring banking differences issued by Accounting Services. Postmasters or unit managers must ensure expenses from banking reconciliations are researched and resolved in a timely manner (see Handbook F-101, subchapter 8-3, Reconciliation Exceptions).
Reminder: PRUs must not make a bank deposit for less than $100. However, checks should be deposited within 5 business days even if the total deposit is less than $100.
Handbook F-101, Field Accounting Procedures
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9 Cash Management
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9-1 Banking
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9-1.2 Banking Procedures for PRUs
[Revise 9-1.2 to read as follows:]
Postal retail units (PRUs) consolidate funds generated from daily transactions into one bank deposit (or two deposits if you must deposit cash separately from checks).
PRUs must not make bank deposits for less than $100. Exception: Checks should be deposited within 5 business days, even if the total deposit is less than $100.
When funds exceed normal operating needs during the day, retail associates (RAs) must make advance deposits in addition to regular deposits.
If excess funds are generated throughout the day, PRUs may prepare a consolidated advance deposit. In the event that the financial institution requires separate deposits for cash and checks, no more than four (4) bank deposits may be prepared on a business day.
Report bank deposit remittances on PS Form 1412 in the appropriate AIC as follows:
Offices that remit their final bank deposit for the day and continue their window services operation must report the additional funds as follows:
a. The RA remits funds to the closeout employee and reports the amount in AIC 752 on PS Form 1412.
b. The closeout employee consolidates the funds, prepares the bank deposit, registers the deposit to the safe, and reports the amount in AIC 753 on the unit’s PS Form 1412.
c. On the following business day, the closeout employee must report these funds in AIC 751 on the unit’s PS Form 1412 and send the funds to the bank.
Note: Under unusual circumstances the district Finance manager (DFM) may authorize an office to prepare the bank deposit and register it to the safe to be picked up early the next morning and received by the bank as previous day’s funds. Then, this bank deposit must be recorded in AIC 752 on the unit’s PS Form 1412 the same day it is prepared and registered to the safe.
To prepare a bank deposit, follow these steps:
a. The preparer completes a two-part deposit ticket: the original for the bank and the copy for the unit.
b. The preparer enters the amount of currency on the deposit ticket by denomination. Include coin only when wrapped in full rolls (e.g., 50 pennies, 40 nickels, 50 dimes, and 40 quarters).
c. The preparer ensures that all deposited items are properly initialed and endorsed by the accepting employee (see part 9-3.4).
d. The preparer enters the total amount of checks (including money orders) on the deposit ticket. Enclose a system-generated list or an adding machine tape showing each check with the deposit.
e. The preparer counts the funds in the presence of a witness (see ‘Note’ below).
f. The witness counts the funds in the presence of the preparer.
g. Both the preparer and the witness must sign the deposit ticket.
h. Both the preparer and the witness must ensure that the original deposit ticket, cash, money orders, checks, and check list (or adding machine tape) are included in the deposit envelope.
i. Seal the envelope. Once sealed, both the preparer and the witness must initial the envelope.
j. The preparer sends the envelope via Registered Mail to the bank.
k. Maintain the duplicate copy of the deposit ticket as supporting documentation for the unit PS Form 1412. The duplicate copy of the deposit ticket must show the preparer signature (Verifier) and the Witness signature (if applicable).
Note: CAG H through L offices are not required to have a witness verify the bank deposit if one is not available. When a witness is not available in CAG H through L offices, the preparer signs the deposit ticket on the “Verifier” line, and the “Witness” line is left blank. CAG A through G offices that cannot meet the witness requirement must have a deviation approved in writing by the district Finance manager (DFM).
It is the responsibility of the postmaster or unit manager to ensure proper procedures are followed in preparing daily bank deposits by monitoring banking differences issued by Accounting Services. Postmasters or unit managers must ensure expenses from banking reconciliations are researched and resolved in a timely manner (see subchapter 8-3).
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We will incorporate these revisions into the next updated version of Handbook F-101, available on the Accounting website:
The direct website address is http://blue.usps.gov/accounting/_pdf/HandbookF-101.pdf.
— Accounting Policy,
Controller, 10-23-08
