Create Accounts

In the Q2 Origination versions up to 2.1003, an account represents a business. You can create an account upfront through the Accounts tab in the Q2 Originate or at the time of creating an application. You can specify the basic details of the business, such as its name, location, and parent company, in case that is registered with your lending organization. You can capture details like the industry the company operates in, its ownership, revenue, and listing details. Once you create an account, you can create contacts for it, whose information may also be evaluated while processing the application. For example, the credit reports of the managing director of the company may be evaluated if the managing director is a guarantor on loan. 

Q2 Originate version 2.1003 and later treats both contact and account as the same entity - Account. For an individual borrower, the Account is the contact, and for a business, the Account is the business entity.  

Prerequisites

None.

Steps

To create an account:

1. Log in to your Salesforce account.

2. In the Lightning mode, if you do not find the Contacts tab on the ribbon, then perform the following steps:

   1. Select the edit icon, and then Add More Items, as highlighted in the following image:

      

   2. In the Add Items window, select All.

   3. From the given list of items, select Accounts.

   4. Select Add 1 Nav Item, and then select Save.

      The Accounts tab is added to your ribbon.

3. On the Accounts home page, select New.

4. Specify the Account Information as follows:

   1. Specify the Account Name and Parent Account in case this is a child company.

   2. Select the Account Number of the business.

   3. Specify other contact details like Type of business, the Industry, Annual Revenue, Phone, Email, and Fax.

   4. Legal Entity

   5. Specify the Ticker Symbol if the company is listed on the stock exchange.

   6. Specify the number of Employees, the company's Website, and SIC Code.

5. Specify the Address Information.

6. Specify any Additional Information, such as the Number of Locations and any SLA related information, if applicable.

7. Provide a brief description of the business, if required.

8. Select Save to create the account.

   Note:

   You can specify additional information once the account is created, such as the primary contacts, or any opportunities or notes, and attachments related to the contact or account.