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What does fiscal year-end close mean?

April 26, 2017fiscal mean year-end

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What does fiscal year-end close mean?

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The fiscal year-end (FYE) close process prepares USPS records for the new fiscal year. The state fiscal year runs from Sept. 1 to Aug. 31 of the following year. Some of the types of records that must be established for the new fiscal year include organization codes, program cost accounts (PCAs), salary tables, class codes, position records and employee assignment records. See the USPS Fiscal Year-End Close Process (FPP R.016) for links to the USPS Fiscal Year-End Close Manual, FYE schedule and schedule of FYE training classes.