To edit the format, go to Project settings > Project ID Format.
Project ID Format settings:
Example of a Project ID (found in project settings):
Select what you want to include in your Project ID by ticking the boxes. You can freely rearrange the order in which you want the format components to appear by copy & pasting the code.
The project ID also allows additional text.
Customer ID number, Customer Project number and Auto ID are sequenced numbers.