"Is Company Account" means what?

When setting up a new Bank account there is a setting:
Is Company Account
(circled in image below)

  1. What is a “Company Account”? What does “Is Company Account” mean?

The manual says all of this about it:

  • Is Company Account : Enable if this Bank Account a Company account.

If selected, what to enter into the “Company Account” field?
I’ve tried various logical account choices but none of them exist which tells I don’t know what this means.

Thanks for helping a beginner.

Hope this may clear your doubt.

  1. Create Account

  2. Create Bank Account

  3. Payment Entry - Receive

1 Like

Thank you Suresh