Accounts are companies. In the hierarchy of customer records, accounts are usually at the top. Within an account, you may have multiple associated contacts. Microsoft is an account. Bill Gates is a contact.
Creating most new records in Microsoft Dynamics CRM follows the same general process. In Outlook 2010/Internet Explorer, you’ll see a New button on the ribbon in the Records group. In Outlook 2003/2007, the New button is on the Record menu. You can follow the process below to create a new record in Internet Explorer or Outlook 2003/2007.