USPS Plans Move to Monthly Accounting Periods

Share this content:
The U.S. Postal Service said it will switch from its current 13 annual accounting periods to monthly reporting of data beginning in fiscal year 2004.

Gerry Krienkamp, a USPS spokesman, said the postal service is changing the accounting process to make it easier for everyone involved.

"This will allow us to report data like most other businesses and government agencies," he said. "The change will better align USPS with customers, competitors and economic forecasts that are done on a monthly and calendar quarter basis."

Alan Robinson, president of Direct Communications Group, Silver Spring, MD, a consulting firm that focuses on the postal and parcel market, agreed.

"This will allow [the USPS to] do quarterly financials that can be compared to their competitors and customers," he said. "It allows [the USPS to be] buying off-the-shelf accounting and operations management systems that use monthly calendars. It also is good as it stops the practice where [accounting period] 1 is in the previous fiscal year."

However, the change has downsides, he said, including that "year-to-year comparisons may be hard, and it will take a little getting used to."

Sign up to our newsletters

Company of the Week

USAData helps businesses find new customers and grow their current customers through a combination of data and digital marketing services, and easy-to-use SaaS technology products. We enrich customer data so businesses can more effectively target and communicate with customers, and connect them with their best look-alike prospects through digital and traditional channels. We make it easy through simple, self-serve applications and APIs, as well as through full-service programs managed by our Data and Digital experts. 

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above