🏁Set Up Person Accounts

You are now ready to configure the last few settings to ensure the application is properly configured.

🧔🏽Person Accounts

In Salesforce, a Person Account is a special type of record designed to represent individual consumers rather than business entities. Person Accounts are typically used by companies in industries such as finance, healthcare, and retail, where there is a need to track individual customers or clients. In this case, you will be using Person Accounts for borrowers.

Click on the setup gear icon:
In the Quick Find box type “Person Accounts” and select Person Accounts from the list:
Review the Org Impact Acknowledgement and accept the changes

Create Accounts Record Type
1. Click on “Set Up”
2. You will be navigated to the Account Record Type page
3. If at least one record type displays, skip to the next step
4. If no record types display, click on “New”
5. Enter the following details:
  1. Existing Record Type: Master
  2. Record Type Label: Business Accounts
  3. Record Type Name: (This will auto fill)
  4. Description: “This is the default Business Accounts record type”
6. Click on “Next”
7. Select the “Apply one layout to all profiles” Option
  1. Select “Account (Sales) Layout
8. Save your changes and return to the person accounts setup page
Click on “Select Readiness”
Click on Enable person Accounts
Click on “View Profiles”
Select the profile you would like to use the Person Account record type (in this example we will use Standard User)
1. Scroll down to the “Record Type Setting” section and select “Edit” under “Accounts”
2. In the “Available Record Types” list, select “Person Account” and Add it to the “Selected Record Types” list
3. In the “Default Record Type section set “Person Account” as the default record
4. Save your changes
5. Repeat this step for all profiles using Person Accounts (Any profile assigned to Loan Officers, Processors, etc.)

🧔🏽Person Accounts

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