What are the Types of Account and difference between them?

We have two types of accounts.

Personal accounts:

1. person’s name will be taken as primary considerations.
2. Person accounts store information about individual consumers.
3. person accounts can’t have contacts.
4. Instead, the person account record stores the information you’d typically save for business contacts,such as first name and last name.You can usually treat a person account like a contact. For example, you can invite a person account to a meeting or associate it with a campaign.

Business accounts:

1. there will be no person name, but company name will be taken into consideration.
2. Salesforce accounts are business accounts by default
3. Business accounts are used to store information about companies or other entities.

Behaviour of Person Account:

1. Person accounts can be merged only with other person accounts. (Account Merge)
2. Person accounts can't have relationships with other accounts or with contacts. They can't be included in account hierarchies.(Accounts)
3. Person accounts can be associated with events or tasks using either the Name or Related To fields.As with contacts, person accounts can be invited to events.For users to request a meeting with a person account, the Email field must be added to the Person Accounts page layout.(Activities)
4. As with contacts, person accounts can be added to campaigns and have a Campaign History related list.(Campaigns)
5. On cases, person accounts can be entered in the Account Name field, the Contact Namefield, or both.(Cases)
6. When you follow person accounts, you follow the account fields, but not the contact fields. (Chatter Feed Tracking)
7. As with contacts, person accounts can be enabled as users for customer communities and portals(Communities and Portals)
8. Person Accounts can't be enabled as users for partner communities and portals.(Communities and Portals)
9. As with contacts, you can associate person accounts to accounts, cases, contracts, and opportunities using the Contact Roles related list.(Contact Roles)
10. Unlike business accounts, person accounts can't have relationships with contacts.
11. Person accounts aren't supported by Data.com products and features.
12. Person accounts are supported by the following Salesforce integration features:-Lightning for Outlook,Salesforce for Outlook,Connect Offline.Person accounts aren't supported by Lightning Sync.
13. Person accounts aren't supported by Data.com Duplicate Management.
14. If you have enabled person accounts, the organization-wide default sharing for contacts is set to Controlled by Parent and is not editable.
15. Person accounts count against both account and contact storage because each person account consists of one account as well as one contact.
16. In Lightning Experience and Salesforce1, person accounts appear in both account and contact search results. In Salesforce Classic, person accounts appear only in account search results.
17. Administrators can configure multiple record types for person accounts. A person account can only be changed to another person account record type.
18. Person accounts have their own page layouts that can include account and contact fields, account custom links, and account and contact related lists.
19. Person accounts appear in all account and contact list views, except the Recent Contacts list on the Contacts home page.Quickly see which records are person accounts by adding the Is Person Account field to the list of fields to display. To include or exclude person accounts from a list view, add the Is Person Account field to the filter criteria.
20. Leads that don't have a value in the Company field are converted to person accounts. Leads that do have a value in the Company field are converted to business account.
21. In Salesforce Classic, person accounts have a person icon (), while business accounts have a folder icon ().
22. In Lightning Experience, person accounts have a person with building icon (), while business accounts have building icon ().
23. Most standard account and contact fields and all custom account and contact fields are available for person account page layouts.
24. Some business account fields (such as Parent Account and View Hierarchy) and some contact fields (such as Reports To) are not supported for person accounts.
25. person account record still occupies 4 KB of data; 2 KB of space for account and 2 KB of space for the contact record.

Enable Person Accounts:

Before you begin, make sure to:

• Create at least one record type for accounts.
• Grant read permission on contacts for profiles that have read permission on accounts.
• Ensure that the contact sharing organization-wide default is set to “Controlled by Parent.”

Once you complete the preliminary steps, contact Salesforce to enable person accounts and then:

1. From the object management settings for person accounts, go to Record Types.
2. Assign person account record types to profiles that require person accounts.

For example, person accounts fit your customers best if they are online shoppers, gym members, vacation travelers, or other individual consumers. Depending on who your company sells to, you might have just one type of account available, or both.