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MendyRMendyR 

Contracts Status Category? What's the value of it?

My application is primarily for legal practice. My Contracts Status field is configured to indicate where in process a particular legal agreement is -- in revisions, with the outside party for signature, fully executed, expired, etc. 

 

Of course, I'm always prompted to assign a Status Category to my drop-down selections, and I always choose Draft. In fact, I don't really understand the significance of the Status Category and am hoping someone can enlighten me. Thanks.

SFDC Prime SquadSFDC Prime Squad
Every contract has to go through a lifecycle. The stages could be different: Draft, In Progress, Reviewed, Ready, Signed, Executed, Expired, Invalid. If you feel like it could be more meaningful as per your business then please reach out to Salesforce admin for help.