What is business partner versioning in SAP FS-BP - Business Partner?

SAP Term: business partner versioning

• Component: FS-BP

• Component Name: Business Partner

• Description: A function in SAP for Financial Services that automatically creates a new version of a business partner every time the business partner data is changed or corrected. Existing versions of the business partner cannot be overwritten. Versioning is not time-dependent.

Smart SAP Assistant

• Key Concepts: 
  Business partner versioning is a feature of the SAP FS-BP component that allows users to store multiple versions of a business partner in the system. This feature enables users to track changes in business partner data over time, such as changes in contact information, address, and other details. It also allows users to compare different versions of a business partner and view the differences between them. 
  
  How to use it: 
  To use the business partner versioning feature, users must first activate it in the system. This can be done by going to the Customizing menu and selecting the “Activate Business Partner Versioning” option. Once activated, users can create new versions of a business partner by selecting the “Create Version” option from the Actions menu. They can then enter the new data for the business partner and save it as a new version. 
  
  Tips & Tricks: 
  When creating a new version of a business partner, it is important to make sure that all relevant data is entered correctly. This includes contact information, address, and other details. Additionally, users should always remember to save their changes before exiting the system. 
  
  Related Information: 
  For more information on how to use the business partner versioning feature in SAP FS-BP, please refer to the official SAP documentation. Additionally, there are many online tutorials and videos available that provide step-by-step instructions on how to use this feature.