Admins can set the default Quote Status. This is the first status assigned to new quotes. By selecting the appropriate radio button under the new column DEFAULT, you can change the default status. New and copied quotes will default to the status with DEFAULT selected.
To create additional status options, click on New Status. This will create a new row. Enter in the Quote Status name, modify from the dropdown its Color as desired, and specify any options. Then click on Save to complete adding your new status.
Updating a quote with a quote status that has Closes Quote checked will lock the quote.