How are discounts and interest fees handled in CAMS?
Current Method: Currently, each Operating Unit applies interests and discounts to the NIST Working Capital Fund. Any interest charges or discounts received are not applied to the individual Cost Center. CAMS Method: Interest charges and discounts received will be reflected at the individual Fund Code/Project level (Cost Centers will be known as Projects in CAMS). These types of transactions will no longer be applied to the NIST Working Capital Fund due to the fact that the Core Financial System (CFS) computes discounts and interest fees at the Fund Code/Project level. For this reason, Operating Units are encouraged to approve invoices in a timely manner so that they can capitalize on discounts being offered and avoid paying late fees.
