SAP recommends that account-based CO-PA be activated for all SAP S/4HANA systems by default, even if a customer won’t initially make use of it.
In this case, you know that many fields coming from sales and distribution are transferred to the Universal Journal as values of CO-PA characteristics. Anything that finds itself as information on the line item in the Universal Journal can be analyzed in reports, including the P&L statement.
CO-PA is updated for P&L accounts, have no relationships with BS or liquidity forecasting or payment.
To active co-pa in SAP, check with t-code OKKP and config options under Controlling/Profitability Analysis.
If Co-PA is active, a CO-PA document will be created when billing, the fields and values in the CO-PA config list will be transferred to the document.
You can also see the co-pa fields in the accounting document.
You can display co-pa list with t-code KE24 and KE30.
You can transfer the co-pa list table to BI tools and build beautiful, powerful, realtime report or KPIS.