Within in an entity you are able to assign a Company Group to allow for running reports and to also determine quickly which entities are part of specific defined groups.
Once you have an entity open navigate to the General tab and then to Entity Details. This is where you can see the Company Group associated with that entity (if any).
When you select the Company Group field you will receive the below drop down menu where you can Search for a group, Create new group, or Edit groups.
Creating a new group is very simple once you select Create new group the below window will pop up for you to type the name for your new Company Group.
If you want to delete a Company Group select Edit Groups on the Company Group dropdown menu. This will pull up a window that displays all the Company Groups in the database. Simply select the Trashcan icon and it will be permanently deleted.