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What does the selection of the value of the project Cost Type affect?

Question asked by KristineV on Apr 14, 2016
Latest reply on Apr 15, 2016 by suhail-sayed

Good afternoon!  My question is around Cost the project, settings page, the Cost Type field defaults to Operating, which is as designed.  My new boss is wondering what is affected by the value of the Cost Type field.  It doesn't affect the Task Cost Types  (i.e. If a project has a project Cost Type of Operating, it doesn't flip all the tasks to Operating).  I assume it's just for reporting?  Thank you for your help!