How to Structure Accounts with a Headquarter (Parent) Account and Regional Offices

How to Structure Accounts with a Headquarter (Parent) Account and Regional Offices

Learning Objectives

This Knowledge Base article will show you... 

  1. How to set up a headquarter with its regional offices as an ‘account hierarchy’

  2. The terminology of ‘parent’ and ‘child’ accounts

  3. How to change the parent account on a child account if you have linked it to the incorrect account

  4. How to see production for the entire company (parent and children) 

Creating an Account Hierarchy

As we know global companies have a global headquarters with many regional offices not only all over the world or region, but even in the same city. It’s important that we set up a clean ‘account hierarchy’ clearly denoting who is the parent account (the headquarters), and who the ‘child’ accounts (other regional divisions, offices) are. 

The account hierarchy gives you a complete picture of the company, which helps in setting selling strategies and negotiated rates etc. 

Once the account hierarchy is set up, it will keep evolving as you uncover new regional ‘child’ accounts. 

To set up an Account Hierarchy, follow these steps: 

  1. First check that the headquarter account exists in the database. If it does, make sure the checkbox called ‘Is Parent’ is checked.  This denotes that it is the headquarters/parent, and you can link children accounts to it. If the tick box is not checked, click on the pencil icon and edit the checkbox and Save.

  1. Next, you have a division with a different address than the parent account. You will need to first search it to make sure it doesn’t already exist.

  2. If this office does not exist, create a new account. Refer to the lesson in Thynk University on how to create a new account or the Knowledge Base article.

  3. When you’re creating a new account, click into the ‘Parent Account’ field. Here you can type in the first few letters to search for the parent account.

  4.  When you see the correct one, click on it to select it.  By doing this step, you have linked up this child account to its parent account! 

  1. Finally, click on ‘Save’

  2. To view the account hierarchy you have to methods: you can click into the top right button called “View Account Hierarchy” or the little button 

on the right of the account name on the top left. 

  1. This opens the window showing you the ‘Parent’ account with the ‘Children’ accounts underneath. 

  1. The grey ‘current’ box next to the child accounts shows you that you’re currently in that account.  

Changing the Parent Account

Sometimes, the account structure can be complicated, and long. One account can have many child accounts, or there could be companies that have more than one parent account within their organization. 

If you see that you have linked the child account to the wrong parent, you can change this easily. 

  1. Open the child account and click into the ‘View Account Hierarchy’ button to see the list of all parent/child accounts. If you see which parent account it should have been linked to, copy the name of the correct account (highlight the correct account name on the list and copy it). 

  2. Now, click onto the child account to open it. In the details screen click on the ‘Pencil’ button in the ‘Parent Account’ field.

  3. Paste the account name you have just copied.

  4. The pasted account name should appear in the ‘Parent Account’ field, click on it  to select it. 

  5. Finally ‘Save’ your changes. 

Viewing Revenue Generated by Parent and Child Accounts

One of the advantages of setting up an account hierarchy is that it allows you to see productivity for the overall parent account, plus all the divisions. It’s an effective way to use the data for setting selling strategies. 

To view the revenue generated, follow these simple steps: 

  1. Click onto the Reports tab on the top of your screen.

  2. Click on the ‘Corporate Production by Parent Account’ report.

Best Practices for Account Hierarchy

  • If an account has the same name but a different address than the headquarter (parent), you should create a new account and link it using the account hierarchy structure in Thynk.

  • Linking them to the parent account is crucial for reporting, so you can see how much revenue the company gives you globally, while drilling down into each regional division.

  • Large corporations can have many different levels of hierarchy, where one account could be a ‘grandchild’ of the overall ‘parent’ account, though we don’t call them a ‘grandparent’!

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