A conversion is a high value event. You can define specific events to be a conversion event in Google Analytics.

By setting up conversion tracking, you can measure how well your website performs towards specific business objectives.

First, you’ll need to implement events that provide the highest value to your business and designate those events as a conversion. To mark an event as a conversion, you need to have the editor or administrator role.

Go through: Admin -> Events -> In the Conversion column, press the toggle.

To stop collecting conversion data for an event, unmark the event as a conversion on the events page. Turning off a conversion doesn’t affect the data you’ve already collected. Past events will still show in reports as conversions, but it’ll prevent future events from showing up.

References

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