How to add fees and penalties

Settings & Administration Updated 14 Aug 2026 Version 1

Summary

Set up the fees and penalties your products charge, each posting to the right general ledger code.

About 3 minutes · 6 steps. Also called: charges, loan fees, late payment penalty, fines, product charges.

Prerequisites

  • A CAMS sign-in whose role can open Settings.
  • The general ledger (GL) code each charge should post to.
  • The amount or percentage to charge.

Step-by-step

  1. Sign in to CAMS Admin.
  2. In the left menu, click Settings, then Products. The Product Setup page opens.
  3. Click the Fee & Penalties tab. You see every fee and penalty rule your products and transactions can use.

Product Setup with the Fee and Penalties tab highlighted
Figure 1: Product Setup with the Fee and Penalties tab highlighted

  1. Search the list first. If the charge already exists, open its row menu and pick edit rather than adding a duplicate.
  2. Click Add new. Name the charge, say when it applies, and pick its GL code. Set an amount for a flat charge, or a percentage when it should grow with the loan or balance.
  3. Save. The new row appears in the list, ready for products to point at.

Warning: Editing a fee that live products already use changes how those products behave. Check the linked products afterwards.

Common pitfalls & FAQ

  • Do I set fees on each product, or here? Define the charge once here; your products then point at it, which keeps them consistent.
  • What is the difference between a fee and a penalty? A fee is a normal charge, such as a loan application fee. A penalty is a charge for a problem, usually a late repayment.
  • My fee never reached accounting. Check the charge has a GL code. Without one, the posting has nowhere to land in the chart of accounts.
  • I need to charge one member, not everyone. That is a teller job: Transactions → Teller → New Transaction → Client Transaction → Apply Fee / Penalty. To undo one, use Reverse Fee/Penalty.

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