How to add a parent folder level to the Engagement or Customer record menu/tree views?

Question
How to add a parent folder level to the Engagement or Customer record menu/tree views?

Answer
To add a parent folder to the company/engagement tree view, see steps below:

1. Login to System manager
2. Go to user interface, select Configurable field values
3. Select the level, “System” or the appropriate level to apply the values
4. Then select the following from the dropdown list:
5. Category: “customer lookups”
6. For customer:
a. Code type: Account type/AccountType
7. For engagement
b. Code type: Line of Business/LineofBusiness
8. Then from the Actions menu, select “Create”
9. Under the ‘Modify Configurable Field Lookup Value’ section, enter a value (new folder name) Click ‘Save’