Technically, there are 22 simplex FREQUENCIES, of which 8 ("GMRS Main") can operate in simplex (radio to radio) or duplex (radio to repeater to radio, simplex frequency +5MHz on transmit). In the old days, when a license only authorized two Main frequency pairs (duplex), channel numbers were meaningless -- many business band radios used for GMRS only had "A"/"B" (or 1/2) to have the licensed channels programmed into; it was common to refer to them by the suffix (.550, say).
With the reorganization of 2017, the FCC defined a standard "channel number" for the basic frequency list:
1-7: original GMRS interstitials
8-14: originally only FRS, these are interstitial channels using narrow band and only 0.5W ERP; they are now available on HTs with a 0.5W low power setting.
15-22: original GMRS main channels -- were NOT legal for FRS usage prior to 2017, and are now limited to <2W FOR FRS; with a GMRS license one can go to 50W
23-30, 15r-22r, etc.: Repeater mode, transmitting on 467.xxx, receiving on 462.xxx (again, in the old days one would have a button on the radio that just toggled the channel between simplex/duplex (and maybe reverse -- where you listen on 467.xxx to see if someone else is in range to go simplex).
As has been stated, "custom" channels are memory slots in which you can specify a desired GMRS frequency, CTCSS/DCS, power level, name, wide/narrow (if you have a group using NFM-only FRS units, you may want to match narrowband -- GMRS is wideband). Depending upon the radio, you may also be able to enter non-GMRS frequencies for scanning purposes, but will not be able to transmit on those frequencies.