What is internal trading partner in SAP FI-LC - Consolidation?

SAP Term: internal trading partner

• Component: FI-LC

• Component Name: Consolidation

• Description: A company within a group that has any type of trading relationship with another company within the group.

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• Key Concepts: 
  Internal trading partner is a term used in the FI-LC Consolidation component of SAP. It is a type of partner relationship that exists between two or more legal entities within the same company. This relationship allows for the transfer of goods and services between the entities, and the resulting transactions are recorded in the company's financial statements. 
  
  How to use it: 
  In order to use internal trading partner in SAP, you must first create a partner relationship between the two entities. This can be done by entering the relevant information into the system, such as the name of each entity, their address, and any other relevant information. Once this is done, you can then create transactions between the two entities, which will be recorded in the company's financial statements. 
  
  Tips & Tricks: 
  When creating transactions between two internal trading partners, it is important to ensure that all relevant information is entered correctly. This includes the date of the transaction, the amount involved, and any other relevant details. Additionally, it is important to ensure that all transactions are properly documented and tracked in order to ensure accuracy and compliance with accounting standards. 
  
  Related Information: 
  The FI-LC Consolidation component of SAP also includes other features such as external trading partners, which are used for transactions between entities outside of the company. Additionally, there are various reports available within this component which can be used to track and analyze transactions between internal trading partners.