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

SAP Term: parent account

• Component: EPM-IC

• Component Name: SAP BusinessObjects Intercompany

• Description: An account whose amount is the sum of the amounts entered in the child accounts assigned to it.

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• Key Concepts: 
  A parent account is a type of account in SAP BusinessObjects Intercompany (EPM-IC). It is used to represent the consolidated view of a group of related accounts. The parent account is the sum of all the related accounts, and it is used to provide a single view of the group's financial position. 
  
  How to use it: 
  The parent account is used to provide a consolidated view of a group of related accounts. This allows users to quickly and easily view the financial position of the group as a whole. The parent account can be used to track the performance of the group over time, as well as to compare it to other groups or organizations. 
  
  Tips & Tricks: 
  When creating a parent account, it is important to ensure that all related accounts are included in the consolidation. This will ensure that the parent account accurately reflects the financial position of the group. Additionally, it is important to regularly review and update the parent account to ensure that it remains up-to-date and accurate. 
  
  Related Information: 
   SAP BusinessObjects Intercompany (EPM-IC) provides a range of features and tools for managing intercompany transactions and consolidating financial data. It also provides reporting capabilities for analyzing and understanding intercompany relationships. Additionally, EPM-IC provides tools for automating intercompany processes, such as reconciliation and settlement.