Set Salesforce Contract Status to Expired or Discontinued Automatically When End Date Is Reached in Sales Cloud

Because the standard Contract object only ships with three status values, you need to create a custom picklist value and assign it to the Activated status category to allow post-activation statuses like Expired.

Add additional status of Contract object such as 'Expired' or ''Discontinued. For this to work, set the Status Category to Activated.

Note: Once a Contract is already activated, there is no longer a way we can deactivate it. Also, End date is automatically calculated using the Start date and Contract term fields

1. Navigate to the Status field:

2. Scroll down to 'Contract Status Picklist Value' section, click New.
3. Enter a label, such as Expired, or Discontinued.
4. Populate API Name by simply clicking it.
5. On the 'Status Category' field, select Activated.
6. Optionally, add Chart Color.
7. Click Save.