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I am trying to write a workflow to update a field on account with created date of first contact record. Unfortunately couldn't see contact fields in the workflow formula editor. Is there any alternate for this using configuration? Any idea is greatly appreciated. Expecting an idea on how to get this value, so that i can write the logic accordingly.

Thanks in advance.

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You cannot update Child record from parent record using Workflow rule.For this you will need to use process builder which allow to update child record from parents and vice versa.

Go thorough below links which has other alternative to update child record from parent record using configuration.

Auto updating child records in Process Builder

Hope this helps :)

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