When one account is fed information from several sources based on function or location, this account is referred to as a ‘Parent’ account. The sub accounts are called ‘Child’ accounts.
In the parent-child account structure, the parent account is often referred to as the master account. It sums up the underlying account values and displays that single value in financial reports. The master account term is no longer used due to its derogatory history. The current terminology is a ‘Parent’ account.