Students access their grades under Assessments > Grades and can only view and print grade items; instructors can also access the gradebook from here, and if they do, they will have the same range of options that are available under Edit Course.
Under the Manage Grades tab, instructors can create new grade items and new categories, and they can reorder and delete items already created. They can also edit each grade item and view statistics and event information for each item.
The gradebook also has a setup wizard.
Note: You can enter or update a grade from either the Grades tool or the tool the item is associated with. However, changes made in the Grades tool are not updated in the associated tool. Those made in the tool are passed to the gradebook.