"International address version" allows you to maintain multiple versions of the same address for a given customer/vendor in SAP. This functionality is very commonly used for customers who need to have multiple versions of the same address in different languages. For example, let's say a business which uses SAP in USA has a customer in Japan. The address printed in all sales/shipping documents used within USA for that customer should be printed in the language English, where as in all documents sent to the customer, the address should be printed in Japanese. Therefore it is necessary to maintain same address in two versions within SAP. You can code the print program to pick the correct address version (language) during document printing.
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How to Create and Activate International Address Versions