The P1 on your keypad stands for Partition 1. It’s normal for this to display on your panel, and it doesn’t indicate that anything is wrong with your system.
Although most people only have one, your alarm system can have multiple partitions. A partition is a section of your home or business that can be controlled separately from another part of the home or business.
For example, say you have a business in the bottom floor of a building and an apartment on top of the store. You can have your store armed at night while the upstairs apartment is disarmed.