Configuring a google account for a child
Yes, you have to lie. 
A separate google-account is the only way to protect your under-age kid.

All other options have these restrictions:


no privacy settings. 
apps using of private data can not be restricted.
child can not install child safe games.
child is not allowed to communicate with parent using text messages.
child always uses parent account.
only one age, so only one child possible. 
all data of child is lost when the child is allowed its own account.
apps of all children are also your apps.
child can not have contact information.
you are not allowed to create a google+ page for your child.
children receive all notifications. E.g. your private e-mail.
etc.


I just found out again by not lying. All drawings, letters to grandma, games and in-game-progress, pictures etc are gone.