Several screens include the ability to notate rows with an Edit Status and/or Account Approval. 

1) Select the row to notate with the Edit Status and/or Account Approval;

2) Then use the pulldown menu for either Edit Status or Account Approval and select the option you wish to use.

In the below example, the Edit Status was updated to "In Process" and the row data updated as follows:

Please note that in order to update the "Account Approval " the above steps will need to be repeated except the "Account Approval" pulldown would be used. 

Accounts can be Locked when "Submitted" using Edit Status and when "Approved" using Approval Status.  Please note that in order for this functionality to be both available and viewable it needs to be turned on in App Config/Menu Editor:

Also, please see How Do I Setup a User Profile, Company and OrgUnit Permissions for a New User Or Edit An Existing User? ; Users setup with "Write" permission can Lock on Submission and Users setup with "Approve" permissions can Lock on "Approved".  Also, please see What Is the Hierarchy with Locking Accounts on "Submitted" (edit status) and "Approved" (approval status)?