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Dave KongFlag for United States of America

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Can versioning work with document links?

I am new to SharePoint, having just taken a week-long class.  I am trying to figure out some things for my firm.  We use FileSite as our DMS, so we would like to keep files within the DMS.  I figured out how to put a FileSite NRL link in a SharePoint documents library.  

My question is about versioning.  I would like to use versioning with approvals, but is that possible when using links instead of documents?  If not, is there any sort of workaround, maybe a column for version number and another column for status, including a list such as; draft, interim draft, final draft, approved?
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Avatar of Uttam (Kukdai) Dhakal
Uttam (Kukdai) Dhakal
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