With the new gradebook, it's under View then Filters. If your institution has multiple grading periods enabled, you will then see a place near the middle of the gradebook (at the top) where you can select the term as a drop-down option.
This lesson will walk you through the process:
https://community.canvaslms.com/docs/DOC-16541-4152814167
This disucssion post is outdated and has been archived. Please use the Community question forums and official documentation for the most current and accurate information.