What is business partner account in SAP FS-AM - Account Management?

SAP Term: business partner account

• Component: FS-AM

• Component Name: Account Management

• Description: An account managed by the bank for a business partner, such as a savings account, checking account. Opposite: internal bank account

Smart SAP Assistant

• Key Concepts: 
  A business partner account is a type of account in the SAP FS-AM Account Management component. It is used to store information about a customer or vendor, such as contact information, payment terms, and credit limits. The business partner account also stores information about the customer's or vendor's financial transactions with the company.
  
  How to use it: 
  The business partner account is used to store and manage customer and vendor information in the SAP system. This information can be used to create invoices, process payments, and track financial transactions. The business partner account can also be used to set up payment terms and credit limits for customers and vendors.
  
  Tips & Tricks: 
  When setting up a business partner account, it is important to ensure that all of the necessary information is entered correctly. This includes contact information, payment terms, and credit limits. It is also important to keep the business partner account up-to-date with any changes in customer or vendor information.
  
  Related Information: 
  The SAP FS-AM Account Management component also includes other types of accounts such as asset accounts and liability accounts. These accounts are used to store and manage financial information related to assets and liabilities.