Income (Revenue) - Money earned from the sale of your products or services is recorded as income. Your company might have one income account or several, depending on the detail needed for your financial analysis. Another category of income is Other Income, or income generated from the sale of a product or service not normal to your operations. Interest Income is an example of an Other Income account type.
Expense - An account that tracks and categorizes what your company is spending. You can think of expenses as money that leaves the company. An Other Expense is money spent on something other than normal business operations, such as corporate income taxes.