How to update custom fields (from the web):
1. Click on Settings from the left menu.
2. Click on Transactions.
3. Click on the name of the custom field you would like to update.
4. In the Edit field window, update any field options or settings. If editing field options specifically, make sure and click the arrow in the top left corner of the edit window to save edits.
5. Click Update field to save your changes.
If you close out of the edit window without clicking Update field, your changes will not be applied on transactions.