Menu > Admin > System Setup > Contact Management > Opportunity Status
Opportunity Status allows you to define the status of the opportunity. Typical settings are Postponed, Closed or Open.
Click on to add a new row.
Status: Enter in Status name
Display Order: Enter number to designate the location in the drop down list the entry will show
Opportunity is Active: Check whether the status is Active or Not. This is used for Opportunity Forecast widgets and reporting purposes