You can configure your transaction status along with permissions as a Brokerage Manager by going to Setup -> Transactions.
Here you will see the current active, pending, closed, rented and dead status that currently exist in TotalBrokerage. 
You can edit the permissions of the existing statuses or disable them by clicking on them or the < on the right side.
By unchecking the "This status is enabled" box, you will not longer be able to use that status for transaction but transactions with that status will keep it.
- Users can share documents for the transaction: If this is the status, user will have permissions to share documents for this transaction.
- Users can add documents to the transaction: If this is the status, user will have permissions to add documents to the transactions.
- Users can request signatures for the transaction: If this is the status, user will have permissions to create signature requests for the transaction.
- Managers and accountants can synchronize the transaction to Quickbooks: If this is the status, user will have permissions to synchronize the transaction commissions information with Quickbooks.
- The transaction will appear in Transaction Reports by default (when no statuses are specified): If this is the status, reports will automatically include this status in reports if no statuses are specified when pulling the report.
- Users can edit the details of the transaction: If this is the status, user will have permissions to edit the different tabs of the transaction (not including commissions tabs as this is a separate permission).
- Managers and accountants can edit the financial details of the transaction: If this is the status, managers/accountants will have permissions to edit the commission tabs of the transaction.
- The transaction will appear in the results of a basic Transaction Search: If this is the status, basic search will include statuses with this status as part of basic search.
- Transaction counts toward agent contributions for commission plans: If this is the status, the commissions of the transaction will apply toward tier commissions plans. (We suggest this is only used for status that mean closed)
- Only managers can change the transaction to this status: If this is the status, only managers can change to this transaction status.
- Once the transaction has this status, only managers can change its status: If this is the status, only manager can change from this status to another.
- Events for the transaction will not appear on the Dashboard calendar: If this is the status, the events for the transaction will not longer appear on the dashboard calendar.
- Tasks for the transaction will not appear in the Dashboard to-do list: If this is the status, the tasks for the transaction will not longer appear on the dashboard to-do list.
You can change the color using the colorpicker at the bottom.
You can reorder the statuses using the the 4 way arrow and dragging the status to the location you want. Please note, the first status in the list will be used by default when creating transactions.
You can also add new statuses by clicking the green add a status button at the bottom. Please note, after that status is saved it can never be removed, only disabled.
Here is an example of a custom status. You can choose the permissions the user will have on this status from the list described above.
Remember to click save when you are done.