diff --git a/erpnext/accounts/doctype/shipping_rule/shipping_rule.js b/erpnext/accounts/doctype/shipping_rule/shipping_rule.js
index 5c02fd2f127..f9cc2cd7e43 100644
--- a/erpnext/accounts/doctype/shipping_rule/shipping_rule.js
+++ b/erpnext/accounts/doctype/shipping_rule/shipping_rule.js
@@ -9,10 +9,15 @@ frappe.ui.form.on("Shipping Rule", {
 	},
 
 	company: function (frm) {
+		if (frm.previous_company !== frm.doc.company) {
+			frm.previous_company = frm.doc.company;
+			frm.set_value("account", "");
+		}
 		erpnext.accounts.dimensions.update_dimension(frm, frm.doctype);
 	},
 
 	refresh: function (frm) {
+		frm.previous_company = frm.doc.company;
 		frm.set_query("account", function () {
 			return {
 				filters: {
diff --git a/erpnext/accounts/doctype/shipping_rule/shipping_rule.py b/erpnext/accounts/doctype/shipping_rule/shipping_rule.py
index aeb1a9ca847..f9f3c695132 100644
--- a/erpnext/accounts/doctype/shipping_rule/shipping_rule.py
+++ b/erpnext/accounts/doctype/shipping_rule/shipping_rule.py
@@ -52,10 +52,23 @@ class ShippingRule(Document):
 	# end: auto-generated types
 
 	def validate(self):
+		self.validate_account_company()
 		self.validate_from_to_values()
 		self.sort_shipping_rule_conditions()
 		self.validate_overlapping_shipping_rule_conditions()
 
+	def validate_account_company(self):
+		if not self.company or not self.account:
+			return
+
+		if frappe.get_cached_value("Account", self.account, "company") != self.company:
+			throw(
+				_("Shipping Account {0} does not belong to Company {1}").format(
+					frappe.bold(self.account), frappe.bold(self.company)
+				),
+				title=_("Invalid Shipping Account"),
+			)
+
 	def validate_from_to_values(self):
 		if self.calculate_based_on == "Fixed":
 			if self.conditions: