Chart of Accounts - Account Types

Hi everybody,

In Account Types We have P&L, then why these Revenue and Cost? where we will use these two account types?

Kindly reply me.

Thanks in advance…

Both are posting account types and have same function.



Both are same . They give debit or credit proposals when accounts of these types are used in journals…

when you run reports yopu can define between revenue account types and cost types if these are used, but othrwise they serve the same purpose