Before a Lead is converted into an Account and a Contact, Users must select a "converted status" value for the record to be converted..
How to set converted Leads Status values?
To set the values available for the "converted status" field on the convert page layout, do the following:
In Salesforce Classic
In Lightning Experience
How to remove converted status off Lead Status value?
To make a value no longer have a converted status, you should click Edit beside the value and deselect the Converted checkbox.
How are converted status values derived when a lead is converted?
If record types are NOT being used for Leads, all of the designated converted status values will show up on the Lead convert page. However, if record types ARE being used, the values displayed on the Lead convert page are taken from the values available on the default record type of the profile assigned to the User doing the Lead conversion, not from the converted status values that are set up on a Lead record type or Lead process that is assigned to the Lead being converted.
Example: If the Lead record type is record type A, while the User doing the convert has their profile assigned with record type B as default, when User converts the Lead record, it will show the converted status for record type B's lead status instead of the one assigned to record type A.
Note:
The default status value cannot be a 'Converted' option. If the User don't select a value with the option "Converted" selected, the User will not be able to convert the Lead.
See also
Considerations for Converting Leads
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