Account 

Definition

An Account Management (FS-AM) business object that depicts the contractual agreements between the business partner and the bank in the system, enabling a current account to be managed.

Structure

The system links together the information in the respective contract elements and business partners to form the actual contractual agreement.

An account contract is based on an account product. The account product is based on the Account product category. Each product category has particular attributes and contract elements assigned to it. In this way, the product category can restrict functions and descriptive characteristics. The product uses settings made in Customizing to limit functions and attributes to a greater extent. The product likewise specifies the number of possible levels of autonomy in the assigned account contract.

If the product does not permit changes to account contract attributes, the account contract has to adopt all of the default values from the account product. These restrictions are useful in retail banking, as opposed to individual transactions.

Integration

The contract receives essential information through its assignment to a product and a contract-managing organizational unit. Default values from the organizational unit cannot be changed in the contract, with the exception of contract calendar 1.

Relationship Between Account Contract and Product

An account contract is based on an account product, which in turn is based on the Account Contract product category. The attributes and contract elements used in the Account Contract product category determine the scope of functions and descriptive characteristics.

The account product can enable further differentiation in the actual account contract. If it does not permit changes, the account contract must adopt all of the default values from the account product. These restrictions are useful in retail banking, as opposed to individual transactions.

For more information about product definition, see Product Management (FS-AM-PR).

Relationship Between Account Contract and Organizational Unit

The contract-managing organizational unit to which the account contract is assigned is an important element in an account contract. It is from this that the system derives the bank posting area, bank country, bank key, and contract calendars. The contract-managing organizational unit of an account contract cannot be changed once the contract has been created.

Relationship Between Account Contract and Business Partner

From a business perspective, the account contract is related to at least two business partners, one being the account holder, the other the bank itself. In Account Management, the account contract only recognizes the account holder or another additional business partner. The bank itself is assigned by the contract-managing organizational unit.

For more information about Contract Management, choose Technical Documentation.