AWS Billing access Activation for IAM User

Few months back I faced an interesting problem. I see that event after giving full billing permission, the user is not being able to access the billing information and the screen was looking like below:

I tried a number of ways like preparing custom policy/using default plolicy and nothing was working.
Eventually I foundout that there is a configuration which needs to be enabled first if you want your IAM user to be able to see the billing information. I have share the steps below:

To activate IAM user and role access to the Billing and Cost Management console1.
1. Sign in to the AWS Management Console with your root account credentials (specifically, the email address and password that you used to create your AWS account).
2. On the navigation bar, choose your account name, and then choose My Account
.
3. Next to IAM User and Role Access to Billing Information, choose Edit.
4. Select the Activate IAM Access check box to activate access to the Billing and Cost Management console pages.
Choose Update.

It would look like below:

This is obvious that the preferred IAM user’s permission is must to view the billing information.

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