Go to Settings and then Dynamic Data Settings
Dynamic Data Settings are currently available for Lead Status, Lead Source, Client Group, Payment Mode, Invoice Status, Income Category, Expense Category, Product/ Service Group, Executive and Employee Department
With the help of dynamic data settings, you can be able to add, modify or delete an existing item which are necessary/unnecessary for your business.
You can simply go to the menu and make necessary changes.
Note : Make sure that if you are modifying or deleting a field, it will not affect any other existing data. It is always suggestible to perform these settings during the first 1 month of CRM Usage