Field that auto prints date when another field is updated

Trying to created a Primary Contact field on our Accounts / Contacts modules.

The field has a simple Yes/No Drop down... 

I would like another field next to it (Primary Contact updated) that automatically puts the date in if someone chooses Yes for the primary Contact field. 

this is what i have so far but its just not right

isInList(related($contactlist_c,"primary_contact_c"),createList("Yes"))now(),date("null"))

so if primary_contact_c = Yes, then input date, ifelse then null

can someone help me get the right formula for this. 

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  • We at times have 20+ contacts for a company, the marketing team is looking for a field that could be updated to know which of those contacts is the current primary contact.

    that has been created.. its yes or no. Like Yes this is the primary contact for this company, or no its not.

    the second part is, if that field gets updated to yes, id like a field that displays when it was last changed to yes. 

    so with a quick glance we can tell if its current information or if it hasnt been updated in years.