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I'm here to share some information about adding a new status for your estimates, @christinesalmon.
Yes, there are currently 4 statuses that you can set for your estimates. These are pending, accepted, closed, and rejected. The feature to add another one is currently unavailable.
That would be a great addition to the current features that we have and our developers might introduce this feature in the future. I'm taking note of this and I also encourage you to send your suggested new status by going to the Gear icon of your account and choosing Feedback.
For now, you can visit the QuickBooks Blog to check for new updates and features that we have.
To know more about estimates and how to convert them into an invoice, refer to the following article: Create and send estimates in QuickBooks Online.
Your willingness to help QuickBooks improve our products and services is greatly appreciated. If there's anything that I can assist with your estimates and or with your account, let me know in the Reply section below. Keep safe and have a good day!