diff --git a/src/backend/InvenTree/InvenTree/api_version.py b/src/backend/InvenTree/InvenTree/api_version.py
index 181abf41c9..f1df853784 100644
--- a/src/backend/InvenTree/InvenTree/api_version.py
+++ b/src/backend/InvenTree/InvenTree/api_version.py
@@ -1,12 +1,15 @@
 """InvenTree API version information."""
 
 # InvenTree API version
-INVENTREE_API_VERSION = 247
+INVENTREE_API_VERSION = 248
 
 """Increment this API version number whenever there is a significant change to the API that any clients need to know about."""
 
 
 INVENTREE_API_TEXT = """
+v248 - 2024-08-23 : https://github.com/inventree/InvenTree/pull/7965
+    - Small adjustments to labels for new custom status fields
+
 v247 - 2024-08-22 : https://github.com/inventree/InvenTree/pull/7956
     - Adjust "attachment" field on StockItemTestResult serializer
     - Allow null values for attachment
diff --git a/src/backend/InvenTree/common/migrations/0029_inventreecustomuserstatemodel.py b/src/backend/InvenTree/common/migrations/0029_inventreecustomuserstatemodel.py
index 7090b98279..408edf6102 100644
--- a/src/backend/InvenTree/common/migrations/0029_inventreecustomuserstatemodel.py
+++ b/src/backend/InvenTree/common/migrations/0029_inventreecustomuserstatemodel.py
@@ -46,7 +46,7 @@ class Migration(migrations.Migration):
                     models.CharField(
                         help_text="Label that will be displayed in the frontend",
                         max_length=250,
-                        verbose_name="label",
+                        verbose_name="Label",
                     ),
                 ),
                 (
diff --git a/src/backend/InvenTree/common/models.py b/src/backend/InvenTree/common/models.py
index ca3b45c9dc..93dd5d11ce 100644
--- a/src/backend/InvenTree/common/models.py
+++ b/src/backend/InvenTree/common/models.py
@@ -3355,7 +3355,7 @@ class InvenTreeCustomUserStateModel(models.Model):
     )
     label = models.CharField(
         max_length=250,
-        verbose_name=_('label'),
+        verbose_name=_('Label'),
         help_text=_('Label that will be displayed in the frontend'),
     )
     color = models.CharField(
diff --git a/src/backend/InvenTree/templates/js/translated/stock.js b/src/backend/InvenTree/templates/js/translated/stock.js
index 6c21536343..2e65072853 100644
--- a/src/backend/InvenTree/templates/js/translated/stock.js
+++ b/src/backend/InvenTree/templates/js/translated/stock.js
@@ -380,7 +380,7 @@ function stockItemFields(options={}) {
         batch: {
             icon: 'fa-layer-group',
         },
-        status_custom_key: {},
+        status: {},
         expiry_date: {
             icon: 'fa-calendar-alt',
         },
diff --git a/src/frontend/src/forms/StockForms.tsx b/src/frontend/src/forms/StockForms.tsx
index 7ac947826b..3ed19c8938 100644
--- a/src/frontend/src/forms/StockForms.tsx
+++ b/src/frontend/src/forms/StockForms.tsx
@@ -138,7 +138,7 @@ export function useStockFields({
         value: batchCode,
         onValueChange: (value) => setBatchCode(value)
       },
-      status_custom_key: {},
+      status: {},
       expiry_date: {
         // TODO: icon
       },