From looking through past forum posts, it looks like you can, to a certain extent, choose. And you can make your own up. This indicates they don’t matter beyond helping me, the business owner, know what’s been spent in which area.
For example, I use Sage for payroll. Different posts suggest I should use “Licences (7302)”, “Subscriptions (8201)”, or that I should create new one called Software. Does it matter which one I use? Why?