Status labels are used to describe the state of an asset. You can add as many status labels as you’d like. Each status label will have one of four characteristics that describe the state of assets with that status label:
Status Label Type
These assets cannot be assigned to anyone.
These assets can be assigned to people
These assets cannot be assigned to people, and will only show up in the Archived view
These assets can not yet be assigned to anyone.
In order to manage Status Labels, go to Settings → Status Labels
Here you can see a list of all the Custom Fields. Here you can create new ones, search, export, and edit or delete existing ones
Create a new Status Label
Click on Create New to go to New Status Label screen
Fill in Name, Status Type and select a Color for it.
Status Label color will be used in Dashboard chart color and it is sticked to that Status Label
Update or delete a status label
From the status label list, you can click on Edit or Delete button on a status label to update and delete it.