Gupta,
I personally wouldn't recommend MS Access for this. I use SQL Server Express (free) on my local PC as one of my main development backends.
Setting up the connection to the database whether local or on a network server is exactly the same. You simply need to define the ODBC connection using the appropriate ODBC control panel. Make sure you ODBC connection bit level (32-bit or 64-bit) matches your Agentry server bit level.
--Bill