The customer journey statuses show where in the sales process your contacts or companies are right now. The main statuses are Lead, Marketing Qualified Lead, Assigned, Pipeline and Customer. Depending on what business model your organization uses there are two ways of using the statuses:
Sync on: If closing an order with one contact working a company should set the status to 'Customer' for the company and everyone working at that company, we recommend syncing the status.
Sync off: If you'd like the company to have the customer status, and its contacts to only acquire it when you've placed an order with that specific contact, not syncing the status is the way to go.
A few details about the sync:
Syncing status between a company and it's contacts
Let's say your business model is somewhat like Upsales: selling your services to one person at a company means that the entire company, and its contacts, should be labeled Customers.
Having the sync-option enabled means that closing an order with one contact (which makes that contact acquire the Customer status) syncs that status to its company, and the company then syncs the Customer-status to all of its contacts, making the company and everyone who works there acquire the 'Customer' status.
Not syncing status between a company and it's contacts
Let's say you are into organizing B2B events and in this case you are targeting bigger companies, like Apple Inc. Closing an order with a single contact doesn't mean that everyone working at the company should be labeled 'Customer', because that contact may only represent a single team at Apple. The other teams should probably also have some fun and buy your services, and they shouldn't be labeled as Customers yet.
With the sync turned off the customer status will only be applied to the contact that's added to the order and the company they work for. This way you can clearly see that Apple Inc is a customer and which contacts that haven't bought your services yet since they are not labeled with the Customer-status.