We use the Reason field to further define the Proposal Status and lets us know if we are still waiting, if the gift is confirmed, but not yet documented, if the solicitation was declined, etc.  

Our fundraisers still have to go to the 'dark side' (database view) to add that information to their proposals.

PS.  I shared this idea before, but that submission is now locked.  Not sure why, so I'm submitting again.