This module helps you to categorize order statuses by assigning every status a different color. Every order has its own status: Processing/Denied/Complete ect. It may get a little confusing when you have a bigger amount of orders. You must check it one by one to find out what status orders you have and go through the whole list of orders. When you use Colored Order Status, it will get much easier to orientate in your e-shop orders. It will tell you, which orders you must pay attention to, which can wait, and which have been cancelled only by a quick look.
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