We will now go over how to set up our application information in iTunes Connect. Any other information pertaining to user accounts, contracts, and banking that you would like to set up can be found at https://developer.apple.com/app-store/review/.
iTunes Connect is where you'll be managing your application from here on out when distributing it to the App Store. Every single piece of information you want to display about your app is done through iTunes Connect.
Once you're in the section pertaining to App Information, make sure that your SKU Number is unique and that it relates to your app, so that you can identify it later down the line. Also, make sure that Bundle ID you designated for your app is the correct one.
The app availability in the Rights and Pricing section controls when you want your app to go live once it's approved. It's good to set it for a date a couple of weeks in the future from when you submit it. It can take a couple of days to a couple of weeks for the review process to go from Under Review to Ready for Sale as long as there are no problems with the submission. The price tier is where you set the price for your app, or it can be set to Free. You can click on View Pricing Matrix to determine the price you're aiming to sell your app for.
The information in the Metadata section is what the customer will see in the App Store. The Rating section pertains to Apple Content Descriptions. Make sure that the level of frequency is checked off as close as possible to the content of your application.
The Uploads section is where you include your 1024 x 1024 px app icon and screenshots that best suit your app visually. Make sure that you provide the correct image sizes. Once you have transitioned back to the Application Information screen, you'll notice that the status says Prepare for Upload. When you click on the Ready to Upload Binary button on the Version Details page, you will answer questions about Export Compliance. Soon after, the status will change to Waiting for Upload.
More information relating to iTunes Connect can be found at http://developer.apple.com/library/ios/iTunesConnectGuide.