The Account domain is an operational-styled hub that manages account data.
An account can be either a managed account or a referenced account:
- a managed account is an account that is managed fully by the Account domain and is a system of record.
- a referenced account is an account that is managed in a different system, which can be either internal or external to the organization.
An account is made up of an agreement and set of accounting units:
- an agreement manages legally binding terms for a relationship between an institution and any party to which that institution has a legal relationship. It contains the legal terms that are required for financial transactions.
- an accounting unit tracks all debits and credits for a particular type of balance that must be managed for an agreement. The accounting unit entity is not provided in Account domain.