Clearly Inventory accounts come with a preloaded list of "Status" values. You can create new status values as well as edit and delete existing status values to reflect your individual business processes.
An Item's Status appears on the "MyInventory" page for inventory transactions. This allows users to quickly see, and update, the status of items in stock. This is a great way to keep track of what's currently available for use or sale, and what's been reserved for another purpose.
Here's the list of preloaded "Status" values and their descriptions:
"On Order" - For items that have been purchased, but are not yet on hand.
"Sold" - For items that have been sold, but are still on hand.
"On Hand" - For items that are immediately available. Using the default status of [None] instead of "On Hand" will be faster and easier, but some users like to use "On Hand" anyway.
"Not on Order" - For items that are close to or below their restock points but have not yet been ordered.
"Reserved" - For items that should not be included in on-hand quantities for whatever reason.
"For Production" - For items that will be used in production and are not available for other purposes.
"In Transit" - For items that are being moved between locations or third parties.
"Damaged" - For items that are damaged, defective, or otherwise in need of repair before they can be considered on hand.
"Repair" - For items that are in a state of repair.
To Edit a Status:
1. Click the "Libraries" tab.
2. Click the "Status Library" link.
3. In the library table to the right, under the Status column, type the "Status" in the filter field for the status you wish to edit. Hit the "Enter" or "Tab" key on your keyboard.
4. Click the pencil icon (edit) for the status. This will take you to the "Edit" panel where you can type in the "New Status Name".
5. Click the "Save" button.