What is 'participant account' in SAP FS-AM-CM - Contract Management?

participant account - Overview

• Component: FS-AM-CM

• Component Name: Contract Management

• Description: An account that is assigned to an account pool. The participant account is a member of this group and is included in an account hierarchy by way of contract element 'contract relationships'.

participant account - Details

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  Key Concepts: 
  A participant account is a type of account in SAP Contract Management (FS-AM-CM) that is used to store information about a customer or vendor. It contains details such as contact information, payment terms, and other relevant data. The account can be used to track the customer or vendor's activities and transactions with the company. 
  
  How to use it: 
  To create a participant account in SAP Contract Management, go to the “Participant Accounts” tab in the main menu. From there, you can enter the necessary information for the customer or vendor. Once the account is created, you can use it to track their activities and transactions with your company. 
  
  Tips & Tricks: 
  When creating a participant account, make sure to enter all relevant information accurately and completely. This will ensure that you have an accurate record of the customer or vendor's activities and transactions with your company. 
  
  Related Information: 
  For more information on participant accounts in SAP Contract Management, please refer to the official SAP documentation.