You can categorized your projects through channels. Channel is the source from where you received the project e.g. In-house project, oDesk, Elance, B2B, B2C etc. This helps to keep a track of the projects coming from which source. To create a new channel, follow the below given steps.
1. Go to Full Menu > Configuration> Company Setup > Channel.
2. Click on the 'Add Channel' icon.
3. Fill in the required information.
4. Click Save to Create it.