Hi experts,
I have a very basic question as i am new to this. i am wondering how and when we use profit center or cost center during a transaction posting. When we post an expense we use cost center in the G/L line item and when we post an income we use profit center in the G/L line item. what is the logic behind this? and also while acquiring an asset we also use profit center but this is an expense so shouldn't we be using the cost center here? i am really confuse in this regard. could any one please help me in this.
Regards,