You have the option to define custom labels for each collection object. However, this is only necessary in exceptional cases. The system usually performs this task for you.
To create custom labels, first select the label size. The system then generates an automatic suggestion for the label content based on the data you have entered.
A preview of the label is displayed. You can mark the label for printing or save it for later. Simple HTML syntax, for example for bold text or font size, is permitted.
The dialog for defining label sheets is explained here: Define label sheets.