When a record is no longer needed, there are two options for the record: Deactivate and Delete. We strongly recommended that you use only Deactivate to ensure a proper audit trail. Delete is a permanent action and can't be undone. Also note that the delete process can cascade the deletion to child records
1. With the record open, select Deactivate on the action pane.
2. A dialog box asks you to confirm the action. Select Deactivate