Remittance Procedures for Postal Money Orders

A Statement of Deposits supporting the deposit slip must be prepared in five copies distributed identically to the deposit slips.
The statement lists cash, checks, and warrants with corresponding amounts and detailed check/warrant information.
Postmasters must certify correctness of the statement by signature and date.

Chief Postal Service Officers submit monthly reports of collections and payments, separated into General Fund and Money Order Fund.
Reports are submitted within ten days after month-end to the Regional Director.
Regional Accountant summarizes reports and sends a city/provincial and regional total summary to the Central Office by the 15th day of each month.

Regional Chief Accountants submit a Weekly Report of Deposits covering cities and provinces via express mail to the Central Office after the 7th, 15th, 22nd, and month-end.
The last weekly report of each month includes a summary of weekly deposits for the entire month.
Copies of the report are furnished to the Regional Director and Regional Resident Auditor.

Regional Chief Accountants submit a monthly Reconciliation Statement of Deposits by the 25th day after month-end.
The statement accounts for differences between bank statements and postmasters' reports.
The Bank officer must correct errors if found.
The Chief, Finance and Management Division prescribes the form and procedures for the reconciliation.
Copies are furnished to the Resident Auditor of the Region.

The Chief Accountant at Central Office prepares a monthly summary report and weekly summaries of regional deposit reports.
These are submitted to the Postmaster General and copies sent to the Executive Director, Resident Auditor, and division chiefs.
Monthly summaries include a detailed weekly breakdown of deposits.

Collections such as stamp sales under the General Fund may be deposited with Land Bank.
Remittance Advice must be prepared in the usual manner, following current procedures.
These deposits go to the National Treasury account until further notice.

Prompt deposits to Land Bank maximize interest income for the Postal Services Office.
Regional Directors must monitor and reduce excessive cash holdings by postmasters.
Daily remittances are required in locations with Land Bank offices to minimize risks of losses from robbery or fire.
Bank's collecting officers are encouraged to pick up deposits at post offices where possible.
Chief Postal Service Officers must verify timely remittance and may be held administratively liable for negligence.

Chief Postal Service Officers must obtain deposit slip forms from the nearest Land Bank office and distribute them.
Until forms are available, postmasters must fill deposit slips upon arrival at the bank with clear indication of post office and location.
This Circular revokes previous conflicting orders.
Regional Directors must distribute copies of the circular to all concerned parties.
Strict compliance with the procedures is mandated.