What is 'party' in SAP FS-LMS - Liquidity Management Suite?

party - Overview

• Component: FS-LMS

• Component Name: Liquidity Management Suite

• Description: An entity that is part of a transaction or limit arrangement. Examples of parties are customers, counterparties, and members of a limit group.

party - Details

• 
  Key Concepts: 
  Party is a term used in the FS-LMS Liquidity Management Suite to refer to an entity that is involved in a financial transaction. This could be an individual, a company, or any other type of organization. Parties can be customers, suppliers, banks, or other third parties. 
  
  How to use it: 
  In the FS-LMS Liquidity Management Suite, parties are used to identify the entities involved in a financial transaction. This allows for accurate tracking of transactions and helps ensure that all parties are properly credited or debited for their involvement. 
  
  Tips & Tricks: 
  When entering a party into the FS-LMS Liquidity Management Suite, it is important to make sure that all relevant information is included. This includes the name of the party, their contact information, and any other relevant details. 
  
  Related Information: 
  The FS-LMS Liquidity Management Suite also allows for the creation of party groups. These groups can be used to group together multiple parties that are related in some way, such as customers or suppliers. This allows for easier tracking and management of transactions involving multiple parties.