When no revenue has been deferred or recognized on a contract, you can delete the revenue contract and its associated performance obligations and linked lines in Revenue Contract Delete (37.1.4).

When revenue has been deferred or recognized on a contract, deleting a performance obligation and linked lines—in the current version only—results in a reversal of already deferred or recognized revenue.

However, the system only allows one contract version each day. Therefore, when the current version is today, the revenue calculation has run, and revenue has been deferred or recognized on a contract, you cannot delete the revenue contract, the performance obligations on the contract, or the linked lines of the performance obligations.