In newer versions it's in Common Tasks - File - Company Settings - Custom Descriptions.

The Job Checklist that appears on the "Status" tab of the Setup > Job screen is editable from that screen, so long as the user has Administrator privileges. In the upper right portion of the screen, when logged is with Admin privileges, you will see three icons (circular), with the leftmost being a pencil, indicating "edit". The other two icons appear regardless Admin status, and are the paperclip and question mark, for attachments/notes and help.  When you click the pencil icon, a pencil icon appears next to each of the 12 items in the checklist, allowing the name to be edited.  The edited names will appear on setup screen for all jobs.  Be aware that you must open one job to access the editing capabilities.

Art Minds
Independent Senior Consultant
Pasadena CA 91101