How to edit current paystub

Welcome, @srinibbulusu and thank you for posting in the Community. 
 

Yes, we can cancel or delete paychecks in QuickBooks Online (QBO) and recreate them. 

If you're using regular paychecks or if it hasn't been processed yet, you can delete and recreate them. If you're using direct deposit and is already cashed, you can void and recreate your paychecks. The process will depend on your payroll service's processing time.

Please note that QuickBooks Online Payroll keeps the voided paychecks on your books and displays them in the paycheck list, but zeros out the balance. Deleted paychecks are permanently removed from your books and do not show up in the paycheck list.
 

Follow these steps on how to void or delete paychecks:

1. Go to Payroll, then Employees.

2. Select the Paycheck list.

3. Select the paycheck(s) you'd like to delete or void, then select Delete or Void.

4. Select Delete or Void again for confirmation.

To learn more about the process, check out this article: Delete or void employee paychecks. 

If you are unable to delete or void, you'll see a message explaining why. Click on Contact us for help with the paycheck.

After deleting or voiding a paycheck, you can now create a new one and run your payroll. 

You can also visit this article to learn how to set up and assign pay schedules to pay your employees in QuickBooks Payroll: Set up and manage payroll schedules. 

Let me know if you have further questions about deleting/voiding paychecks. I'd be glad to assist. Keep safe and have a nice day!