Orders in WooCommerce are created when a buyer completes the order process. They are only visible in the WordPress dashboard to users with the Admin or Store Manager role. Each order in WooCommerce has a unique identifier.
Order statuses in WooCommerce
Order statuses tell you what stage an order is on. Here is the list of order statuses in WooCommerce:
Pending payment - order received but not paid
Failed - there was a problem while processing the payment. This status may not have been given as soon as the order is created, but only after the payment gateway responds
Processing - payment received, stock reduced-order waiting to be processed by the shop. If a COD payment method was selected when placing your order, your order will receive this status. To skip this status and automatically change the status to completed, use the Order statuses plugin.
Completed - order is complete, no further action is required
On hold - the stock has been reduced, but the shop staff must approve payment
Cancelled - canceled by customer or shop staff - no further action required (canceling an order does not restore the removed stock). Set automatically when payment is not recorded. You set the time to cancel in the Store Settings.
Refunded - the order has been refunded by the shop manager - no further action required
WooCommerce order status diagram
WooCommerce autocomplete orders plugin
If you are thinking about automating the process of changing order statuses consider an additional plugin - Automatic Payment Status WooCommerce. The plugin helps you to manage order statuses in your store, and will automatically change the status of an order to completed after the successful online payment.