In the module Quote > List, there will be four statutes as below:

Draft

A draft is a status that the quotation is just created and not finished yet, and cannot be sent to clients. The quotation can still be edited.

Sent

Sent is a status that the quotation is just created and is sent to clients. The quotation can still be edited. 

Note: You can create a shipment directly from this status. 

Booked
Booked is a status thin at the quotation that is accepted by clients and the shipment is created automatically on the system. The quotation cannot be edited at this moment.

Rejected

Rejected is a status in that the clients reject the quotation.