Enable Editing Directly on Forms is the easiest method to apply custom labels to the forms exactly where you would like to change them. It allows you to edit most properties and labels directly on the form. When enabled, values are pulled directly from the database for your account and other users will not see your changes until the "Refresh Cache" link has been clicked. When you are editing directly on forms, you should limit your activity to editing only. As soon as you have completed your edits, be sure to click the "Refresh Cache" link and uncheck the Enable Editing on Forms checkbox as soon as possible. When Editing Directly on Forms is enabled the system may not perform as well as usual for you due to the extra database interaction which occurs while editing. Below is an example of the Project Add/Edit form with editing on the form enabled.
The edit icon to the left of the label indicates a label which allows editing. Note the default values referenced in the example below of the editing interface for the Project Status label. Any one value can be updated while leaving the others as default. For example, a custom Tool Tip can be added for more descriptive help as to how your organization should use the Status data field without changing the other label data.