how to update parent object field with child object's field?

Question

I have 2 objects: Account as the parent object and Account Team Member as the child object. I want to update a field (Customer_Lead) on Account object with the Name field of Account Team Member object, of that team member who has the checkbox field on Account Team Member object checked. By taking Customer_Lead as formula I'm not able to access the child object field. By creating a workflow rule on Account Team Member's checkbox field, the previous records will not get updated.

Is there some other way possible to do this??

Answer 1

You should Work With Cross object Formula Field Which is used to update the master object's Field when Child Object,s Field is Changed. You Can Get More info from the Following link. http://help.salesforce.com/HTViewHelpDoc?id=workflow_cross_object_field_updates.htm&language=en_US