Converting a Lead to a Prospect through the Convert Button does not Convert the Record to a Prospect, the Record stays as Lead

User is using the Lead Conversion Feature. When converting a Lead to a Prospect using the Convert button, the record stays as Lead. This happens when the Prospect Status - New in Sales Preferences is set to a Status that is in a Lead Stage. To verify, perform the following steps:

    1. Navigate to Setup > Sales > Sales Preferences.

    2. Click the General tab.

    3. Take note of the Status set in the Prospect Status - New field.

    4. Navigate to Setup > Sales > Customer Statuses.

    5. Verify if the Status set in Step 3 has a Stage of Lead.

If this is true, then this is the reason why when converting the Lead, the record does not get converted to a Prospect. To resolve this, user needs to select a different Customer Status in the Prospect Status - New field in Sales Preference. The Status needs to be linked to a Prospect Stage.