When you click on a column heading in a list a menu appears with the following options:

The Sorting options are obvious, I hope.

Summary (thru pivot operation)... can be pretty useful.  Need to know contributions by City?  If you are in the Contribution list, click the City column heading and choose this option.  A dialog comes up that you can further modify or just click OK.

Hide lets you hide the current selected column.  
Undo Last Hide - need I say more? 

Rename - Don't like the columns current name?  Change it here.

NOTE: Hide, Undo Last Hide and Rename are all temporary settings.  To make them permanent, use the Format button to save the format.

Configure - let's you choose which button activates the sort menu.  If you prefer our legacy process of the first click of a column heading sorting in ascending order and second click sorting in descending order this menu item allows you configure that setting.