Create a Custom Field on Contact Record that Sources a Value from the Company Record

Scenario

There are cases when users want to create custom fields on the Contact record to source field values from the Company record. In order to achieve this, a custom Entity field must be created on the Contact record and a formula must be used to source the value from the Company record.

Solution

1. Navigate to Customization > Lists, Records & Fields > Entity Fields > New
2. Custom Entity Field:
• Label: Enter Value
• Type: Select Value
• Store Value: Remove Checkmark
3. Click Applies To tab: 
• Contact: Enter Checkmark
4. Click Validation & Defaulting tab
   • Formula: Enter Checkmark
   • Default Value: Enter {company.fieldId}
     
5. Click Save