It controls the order of presentation.
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If you have many custom fields created for that module, it helps to arrange them as to which one will show/displayed first, second, third…last on the form.
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I will probably hide Position field when creating the first custom field as when you have only one custom field, Position field has no meaning.
Actually, I think the Position field could be useful even when there was only one custom field. If we could also enter position values for the standard fields, we could then change the order of all the columns, which could be pretty handy.
And… if we go that far, can we also have a control (check box?) for turning off a standard field?
A post was split to a new topic: Positioning custom fields in template