Our k12 institution has always enjoyed having a "collected" status in our grade book so that students and parents can see that even though an assignment has not been graded yet, it has been collected. I realize that this only needs to apply to "On Paper" assignments because digital submissions are time stamped, but many of our teachers still collect some of their papers on paper as the College Board has not started using digital submissions for their writings. Perhaps that status option could only be available for "On paper" assignments.
We also would like to see an "Absent" status in place so that we can track why a student didn't get an assignment in on time. Per our School board policy, students are given extra time to make up assignments if they were absent.