Newbie question - if I make a custom record inactive that was used in a list/record type field what happens to the data in transactions that were already created using those values?

It's still there. "Inactive" = not (by default) global searchable (there is a preference to allow you to do this) AND not available in dropdown lists. Other than than inactive records maintain all the same behavior as active records and historical records do not change unless you do something to change them.

Thanks!

YW

@pen one - Agree with @James Morris answer 100%. A cool trick in the Global Search window you will not be able to view the pop-up results for a record/item that has been set to Inactive status. But if you type a + behind the record you can then see the pop-up results and drill-down into the record. I included an example below. Ex. Item: ABC | Enter In Global Search Window: ITE: ABC | Results: No pop-up results Item: ABC+ | Enter In Global Search Window: ITE: ABC+ | Results: Pop-up results to drill-down into