Of course it matters. I can never remember which one goes where because I put a yellow tywrap on the fuel vent line to easily identify it.
If someone doesn't do a search and direct you to the thread that discusses this, the easiest way to tell them apart is to try blowing into one of the hoses at the tank end. The water drain is always open. The fuel vent line will be closed by the check valve in that direction. Air flow in the fuel vent line is from the bottom of the hose, through the check valve, into the tank to replace displaced fuel.
What is going on Jeffro.....thought you said this stuff was easy?
The fittings on the tank can be identified by putting low air pressure (3 to 5 psi) on either of the orfices.