This is the notation for the configuration of the battery. S means Series, P means Parallel. xSyP means x cells in series (to get the desired voltage) and y cells in parallel (to get the desired capacity). If xS or yP is missing then it is either to be read as 1S or 1P respectively or it isn't important for what is meant to be said.
Examples:
- Car batteries are usually 6S lead acid batteries for a total voltage of 12V. A lead acid cell has a nominal voltage of 2V, 6x2V is 12V. There are no cells in parallel, so it is just 6S.
- Lithium batteries for small/medium RC vehicles are usually 3S or 4S, again no cells in parallel.
Technically these batteries can be called 3S1P, 4S1P and 6S1P. But that is not very common since the 1P part has no meaning in this case. Also, lead acid batteries are the reference when talking about 12V/24V/48V systems. They define these systems. That is why they are usually called 12V, 24V and 48V batteries instead of 6S, 12S or 24S.
- If someone says "Use a 7S battery" then there is no yP since this is not relevant in this case. It means you should use a battery with seven cells in series (of that given chemistry that is talked about, in this case lithium ion cells) and the number of cells in parallel is yet to be decided on available space, current draw and so on.
- Similar thing, "Use 90P packs" means you should take packs of 90 cells in parallel and add as many of them in series until you have the desired voltage.
- And finally, 7S90P as an example, is a complete electrical specification of a battery. It uses seven cells in series and 90 in parallel, so a total of 7x90 = 630 cells are needed. You know the voltage, it is seven times the nominal voltage of an individual cell, and the capacity, it is 90 times the capacity of the individual cell. Its energy is its voltage times its capacity and its maximum discharge current is 90 times the maximum discharge current of the used cells.
Did that became clear, more or less? It is not unusual that this is a bit confusing for people that are new to the business
And regarding you question about conversion losses from 24V to 12V: Not much is lost, the conversion efficiency of DC-DC converters is rather high so the losses are small. Efficiency can be as high as ~98% and is rarely under 90%. I usually use 95% as an example if no real figures are available.