Accounts in Salesforce 🏢

 

Salesforce Sales Cloud - Understanding Accounts 🏢

What is an Account in Salesforce? 🤔

An Account in Salesforce is like a folder that stores information about a business or an individual you are dealing with. Think of it as a contact list for businesses or customers that your company interacts with.

Real-Life Example

Imagine you own a furniture business 🛋️. You sell to both companies (like a hotel chain) and individuals (like a homeowner).

• If you are selling to a company, the company (e.g., "Luxury Hotels Ltd.") is an Account in Salesforce.
• If you are selling to an individual, that person (e.g., "John Doe") is also an Account in Salesforce but treated as a Person Account (more on this later).

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Important Fields in an Account and Their Uses 📋

Each Account contains fields that store specific information. Here are some important ones:

1. Account Name 🏷️ – The name of the business or customer. (e.g., "Luxury Hotels Ltd.")
2. Account Type 🏢 – Defines if it’s a Customer, Partner, Vendor, or Prospect (potential customer).
3. Industry 🌍 – The type of business the account belongs to (e.g., Hospitality, Healthcare, Retail).
4. Billing & Shipping Address 📍 – Where invoices and products should be sent.
5. Phone ☎️ – Contact number for the business or person.
6. Website 🌐 – The company’s website (e.g., www.luxuryhotels.com).
7. Account Owner 👤 – The salesperson or account manager responsible for this customer.
8. Annual Revenue 💰 – The estimated revenue of the company.
9. Number of Employees 🏭 – Helps to understand the company size.

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What are Account Settings? ⚙️

Account Settings allow businesses to customize how Accounts work in Salesforce. These settings can be configured based on business needs.

Key Account Settings:

1. Enable Person Accounts 👥 – Allows Salesforce to track individual customers along with companies.
2. Account Hierarchy 📊 – Shows relationships between parent and child accounts (e.g., McDonald's HQ and McDonald's Local Franchises).
3. Duplicate Rules 🚦 – Prevents duplicate accounts from being created.
4. Field Customization 🎨 – Allows businesses to add custom fields relevant to their industry.

Real-Life Example

Let’s say your company deals with both businesses and individual customers. You would enable Person Accounts to manage individuals separately while keeping business accounts structured properly.

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What is a Person Account? 👥

A Person Account is used when dealing with individual customers rather than businesses.

• A Business Account represents a company (e.g., Amazon, Google).
• A Person Account represents an individual customer (e.g., John Smith).

Real-Life Example

If you own a car dealership 🚗, you might sell cars to both:

• A Business (e.g., Uber) → Business Account
• An Individual (e.g., John Doe) → Person Account

Person Accounts store both personal and business-related details in one record.

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Account Object Best Practices ✅

To ensure smooth account management, follow these best practices:

1. Use Proper Naming Conventions 📛 – Keep Account names clear and standardized (e.g., use "ABC Corp" instead of "abc corp").
2. Avoid Duplicates 🚫 – Use duplicate rules to prevent multiple records for the same company.
3. Use Account Hierarchies 📊 – Link related accounts (e.g., Parent Company & Subsidiaries).
4. Keep Data Clean 🧹 – Regularly update and validate account information.
5. Assign Ownership 👤 – Ensure every account has an Account Owner for accountability.
6. Use Custom Fields Wisely 🎨 – Don’t overload the account with unnecessary fields.

Real-Life Example

A telecom company sells internet services to both corporations and individuals. To ensure proper tracking:

• They use Account Hierarchies to connect a parent company with its branch offices.
• They implement duplicate checks to avoid creating multiple records for the same business.
• They assign Account Owners to ensure each customer has a dedicated contact person.