Statuses
Define the statuses tickets move through — each gets its own color, and one status can be marked as the default new tickets start in.
Issue types
Create the issue types that make sense for your team (bug, feature request, task, or anything else), with one marked as the default.
Tags
Tags/labels are configured per project and can be renamed account-wide — rename “Labels” to “Tags,” or whatever term your team already uses, and it updates everywhere.