The Billing Account Management (BAM) component provides all the needed functionalities to create, configure and modify billing accounts. The BAM component supports and handles the following capabilities/functionalities - setup/creation of billing accounts, associate payment plan(s), associate payment method(s) (optional), account taxes/fees exception management, define account associations, provide account balance details, set up billing contacts, set up billing preferences (eg bill cycle frequency, invoice media type, invoice template option, etc.)