What is child account in SAP EPM-IC - SAP BusinessObjects Intercompany?

SAP Term: child account

• Component: EPM-IC

• Component Name: SAP BusinessObjects Intercompany

• Description: A data entry account e.g. Goods in Progress, WIP that depends on a counterparty account e.g. Finished Goods in Progress.

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• Key Concepts: 
  A child account is a type of account in SAP BusinessObjects Intercompany (EPM-IC). It is a sub-account of a parent account, and it is used to track the financial transactions between two companies. The parent account is the main account that holds all the financial information, while the child accounts are used to track specific transactions between two companies. 
  
  How to use it: 
  Child accounts are used to track specific transactions between two companies. For example, if Company A and Company B have a business relationship, they can create a parent account in EPM-IC and then create child accounts for each transaction between them. This allows them to easily track the financial information related to each transaction. 
  
  Tips & Tricks: 
  When creating child accounts, it is important to make sure that they are properly linked to the parent account. This will ensure that all financial information related to the transaction is tracked accurately. Additionally, it is important to keep the child accounts up-to-date with any changes in the business relationship between the two companies. 
  
  Related Information: 
  For more information on SAP BusinessObjects Intercompany (EPM-IC) and how to use child accounts, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and tips on how to use EPM-IC and its features.