What is residence period in SAP AP-MD-BP - SAP Business Partner?

SAP Term: residence period

• Component: AP-MD-BP

• Component Name: SAP Business Partner

• Description: A time period used in data archiving. During the residence period the data remains in the database and can be used in case of subsequent processes such as returns, warranty issues or even new business. The residence period ends when the blocking report is run and the residence period set by each of the consuming applications has ended.

Smart SAP Assistant

• Key Concepts: 
  The residence period in SAP Business Partner is the length of time a business partner is associated with a particular address. It is used to determine the validity of an address and to ensure that the address is up-to-date. The residence period can be set to any length of time, from one day to several years. 
  
  How to use it: 
  The residence period can be set in the SAP Business Partner master data. To do this, go to the “Address” tab and select “Residence Period” from the drop-down menu. Enter the desired length of time for the residence period and click “Save”. 
  
  Tips & Tricks: 
  It is important to keep the residence period up-to-date in order to ensure that the address information is accurate. If the residence period expires, it will be necessary to update the address information in order for it to remain valid. 
  
  Related Information: 
  The residence period is related to other SAP Business Partner master data, such as contact information and communication methods. It is important to keep all of this information up-to-date in order for SAP Business Partner to function properly.