Effective January 26, 2014, the Postal Service’s™ new First-Class Mail® single-piece 1-ounce price is 49-cents. All Post Offices™, postal retail units, Self-Service Kiosks (SSKs) with stamp accountability, and contract postal units (CPUs) must increase the value of each Forever® Stamp booklet on hand in their inventories prior to opening for business on January 26, 2014. All Forever Stamp booklets on hand are revaluated to the new First-Class Mail single-piece 1-ounce price of 49-cents each.
Forever Stamp booklets are recorded in inventory at the old price; therefore, the booklets must be revalued. To increase the value, stock custodians and retail associates must count the number of Forever Stamp booklets in their inventories and multiply by the corresponding increase amount to compute the value of the increase in accountability.
The following are instructions for each financial reporting technology:
n Retail associates must ship all Forever Stamps (AIC 848, Stamp Stock Returned) to the unit reserve custodian for revaluation.
n Use PS Form 17, Stamp Requisition/Stamp Return, to ship stock.
n Stock is recorded at the full value (old price) on PS Form 17.
n Unit reserve custodian receives the stamps (AIC 841, Stamp Stock Received) from the retail associate at the value shown (old price) on the PS Form 17.
n Record stock received on PS Form 3295, Daily Record of Stamps, Stamped Paper, and Nonpostal Stamps on Hand.
n Multiply the number of Forever Stamps on hand to be revalued by the difference between original price (old price) and revalued price (new price).
n Record the computations for each Forever Stamp booklet revalued on a PS Form 17.
n Enter the total for all calculations from PS Form 17 on PS Form 3958, Unit Reserve Stamp Stock Transaction Record, as follows:
n Line 3 for increase (AIC 844, Stock Increase — Revaluation).
n Enter the calculated amount in AIC 844 on unit PS Form 1412, Daily Financial Report.
n Verify entries in AIC 844 on the unit PS Form 1412.
n File PS Form 17 and PS Form 3958 as supporting documentation.
The software download will automatically revaluate all Forever Stamp booklets on hand for the unit reserve stamp stock and each retail floor stock, Stamps by Mail®, Philatelic, and Mobile Unit segments.
Note: All Forever Stamp stock on hand must be properly identified with the required item numbers and the quantities prior to the automatic revaluation. All newly received shipments from the SDOs must be accepted into inventory no later than Saturday, January 25th, or on the date specified on the instructions accompanying the PS Form 17, if applicable. All stock transfers between the Unit Reserve and the retail Floor Stock, or any other segments containing Forever Stamp inventory, must be completed prior to the software download.
The software download will automatically revaluate all Forever Stamp booklets on hand for the stamp dispenser, stamp repository and the reject bin.
Note: All Forever Stamp stock on hand must be properly identified with the required item numbers and the quantities prior to the automatic revaluation. All newly received shipments from the SDOs must be accepted into inventory no later than Saturday, January 25th, or on the date specified on the instructions accompanying the PS Form 17, if applicable. All stock transfers containing Forever Stamp inventory, must be completed prior to the software download.
CPUs that submit a daily PS Form 1412 to a host Post Office must increase the value of each Forever Stamp booklet in their inventory as follows:
n Count each Forever Stamp to be revalued.
n Multiply the number of Forever Stamp booklets on hand to be revalued by the difference between original price (old price) and revalued price (new price).
n Record the computations for all Forever Stamp booklets revalued on a PS Form 17.
n Enter the calculated amount in AIC 844, Stock Increase – Revaluation, on Form 1412.
n Submit PS Form 17 and the CPU’s PS Form 1412 to the host Post Office or the Contracting Officer’s Representative.
Note: CPUs with Contract Access Retail System (CARS) do not need to revalue the Forever Stamps in their inventory. The CARS system will automatically change the price and the CPU will sell the stamps for the new price on January 27, 2014.
Prior to January 27, exchange any Forever Stamp booklets in a rural carrier fixed credit with denominated 46-cent stamps. All Forever Stamp booklets with the old price need to be in the unit reserve stamp stock or the retail floor stock for revaluation.
After the Forever Stamps have been revalued to the new 49-cent price on January 26, 2014, rural carriers may exchange their denominated 46-cent stamps for the revalued 49-cent Forever Stamps.
The unit reserve custodian will exchange the rural carrier’s Forever Stamp booklets with denominated 46-cent stamps. Ensure the Forever Stamp booklets with the old price are added to the unit reserve stamp stock to be revalued on January 26, 2014.
The POS ONE system will automatically revalue all Forever Stamp booklets on hand; therefore, all Forever Stamp booklets must be in the retail floor stock prior to January 26, 2014. A retail associate working from the retail floor stock will exchange the rural carrier’s Forever Stamp booklets following the Exchanging Stamp Products workflow:
n Press [Stamps and Merchandise] or [Stamps].
n Select <Exchange>.
n Enter the quantity (Forever Stamp Booklets). Press [Quantity].
n Scan/enter the item number of the Forever Stamp booklet being exchanged and select <Exchange by Item Number>.
n Select <Saleable>.
n Select <Continue>.
Note: When completing the exchange, this item must be equal to the value of the item being exchanged.
n Scan/enter the item number of the denominated 46-cent stamps and then select <Sell by Item Number>.
n Press [Quantity].
n Scan/enter the item number of any other denomination stamps to be issued and then select <Sell by Item Number>.
n Press [Quantity].
n Once the values of the denominated 46-cent stamps sold are equal to the Forever Stamps being exchanged, press [Payment or End of Visit].
Note: The amount required to satisfy the exchange is displayed as a negative total at the bottom of the notebook area. The amount total of loose stamps sold is displayed in the message.
No action needed.
Forever Stamp booklets that are damaged or otherwise unusable for postage while in a customer’s possession may be exchanged for an equal number of Forever Stamp booklets at the current price. Postal Service employees must pick up the Forever Stamp booklets to be exchanged at the current price. For POS ONE equipment, follow the Exchanging Stamp Products workflow and scan the Forever Stamp booklets to be exchanged and the current price will be reflected.
— Revenue and Field Accounting,
Controller, 1-23-14
