Relevant articles:
This is an example of the reservation from Hostfully direct booking site.

1. On Dashboard tab
A lead, once generated, and not assigned yet, will appear as below (editable) on the Dashboard tab.
(It is greyed out / view-only if already assigned, and will be editable in Pipeline tab)

Now you can have below actions:
"Assign to me" => this lead will be moved to Pipeline tab.
"Edit" lead => General edit, can also assign lead here. Remember to save.
"Ignore" lead => lead will be greyed out, but stay in Dashboard
Note:

In above screenshot, the red circle means it's not available for those dates while green circle means it is.
2. On Pipeline tab
There are 4 stages of a lead: Quote | Hold | Booked | Stay
Quote: can result from a "get quote" inquiry, or drop-out of book flow (unfinished payment for example).
Hold: save for certain period of time, but not confirmed yet.
Booked: confirmed reservation, but not necessarily fully paid
Stay: the stay is happening. everything should be all set now. Status will turn to Archived after check-out.
First stage - Quote

Available options:
Send a Quote
Where you can send the quote by email to your guest, there is a template email and you are able to customize:

If they click on "Request A Hold" link, the lead will move to the second stage - Hold

Place on Hold: Move the lead to the next stage with this option
Mark as Booked: Move the lead to the third stage - Booked
Alternative options: Open mailer with your other available options to offer
Close Lead: lead stays in Pipeline with Closed status, and can be re-opened
Second stage - Hold

If the hold duration runs out and the lead is still not converted, the lead now has the "Expired" status. (To customize hold duration, please refer to this help article)
Both Hold and Expired statuses come with below options:
Send a Reminder: Open mailer to remind the lead on pending hold
Mark as Booked: Move the lead to the third stage - Booked
Extend Hold: keep the lead in Hold status
Revoke Hold: move the lead back to first stage - Quote
Close Lead: lead stays in Pipeline with Closed status, and can be re-opened
Third stage - Booked
Let's click on " Mark as Booked", the lead will move to the third stage

This stage is important, with available option as below:
Mark as Paid: if you already charged the guest outside the platform
Record a Payment: for payment processed outside the platform
Send Balance Payment Request: to settle outstanding balances
Send a Pre-Arrival Form Reminder:
Send Check-in instructions:
The lead will move to the final stage "Stay" on the date your guest arrived.
Note:

The green check mark in the above screenshot means the booking is confirmed. It does not have anything to do with payment status (paid or overdue)
Leads with Duplicate status are resulted from multiple entries of a booking. They are shown on the Pipeline so that you can keep track of multiple guest requests.

For leads with Archived status, it comes in both blue and orange.
Blue means all good, and orange can mean a Security Deposit is not (marked as) refunded yet.
For more details on how to manage that, please refer to this article on Refunding security deposits.

FAQ
"You do not have permission to take action on this booking" error. What do I do?
Please click Edit next to the reservation in Pipeline, select your name from "Assigned to" drop-down list. Click Save.
Hope it helps, and please let us know if you have any question via pop up chat on the bottom right, or via email to support@hostfully.com.