"Is Company Account" means what?

[stephenw]

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.

[Suresh_Thakor]

Hope this may clear your doubt.

1. Create Account
   

   

2. Create Bank Account
   

   

3. Payment Entry - Receive
   

   

[stephenw]

Thank you Suresh