What is mirror transaction in SAP FS-BA-PM-AFP - Accounting for Financial Products?

SAP Term: mirror transaction

• Component: FS-BA-PM-AFP

• Component Name: Accounting for Financial Products

• Description: Pair of hedging instruments having common features and opposing signs, across two legal entities. Mirror transactions affect Hedge Accounting on the legal entity level. A mirror transaction always has a partner mirror transaction in another legal entity.

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• Key Concepts: 
  Mirror transaction is a feature of the Accounting for Financial Products (AFP) component of SAP Financial Services (FS-BA-PM). It allows for the automatic creation of a “mirror” transaction in the system when a financial product is created or modified. This mirror transaction is used to track the changes made to the financial product and ensure that all related accounts are updated accordingly. 
  
  How to use it: 
  To use the mirror transaction feature, first create or modify a financial product in the system. Once this is done, the system will automatically create a mirror transaction that reflects the changes made. This mirror transaction can then be used to track any changes made to the financial product and ensure that all related accounts are updated accordingly. 
  
  Tips & Tricks: 
  When using the mirror transaction feature, it is important to remember that it only tracks changes made to the financial product itself and not any other related accounts. Therefore, it is important to manually update any related accounts as needed. Additionally, it is important to regularly review the mirror transactions to ensure that all changes have been properly tracked and accounted for. 
  
  Related Information: 
  For more information on mirror transactions and how they work in SAP Financial Services, please refer to SAP’s official documentation on Accounting for Financial Products (AFP). Additionally, there are many online resources available that provide detailed tutorials and best practices for using this feature.