That's correct. It gives you a recap that you can sort by team, and by round. You can set it to the entire league and then look at each round individually to take note.
Once you have notes on when positions are taken, it helps to then compare that to need and build a draft plan. Football is 11 on 11, which means there are 22 starters. By round 19, you should have most of your starting roster taken care of.
The first two or three rounds are where you select the players you want to build your team around.
I try to police myself when drafting and limit myself to only 1 or 2 rookies that were taken in the 1st and 2nd rounds of the draft each. The same goes for 2nd and 3rd year players. It is my own way of simulating how/why those players are on my team and keep the league balanced.