Each task is assigned a code to indicate the current status. Task Status codes are created in the Task Status screen. At least one task status code needs to be created. In the Project Setup screen a default task status is defined to be used for all new tasks as they are created.
Status Code – This field holds a short code representing the status.
Description - The description of the status,
Display Sequence - This is used to sort the status codes on display lists, from lowest to highest number. It is a good idea to number status codes using numbers separated by 10s or 100s so that new status codes can be inserted in between existing codes.