Hi hmmameen!
Allow me to explain what will happen if you deleted a bill.
When you delete a paid bill, the payment will still remain in QuickBooks Online. However, it'll create an unapplied cash bill payment. This unapplied bill payment will also appear in your reports especially the cash-based profit and loss.
You can apply the unapplied cash bill payment to your future bills. Simply process a bill payment as you usually do. Then, it'll show on the Credit section of the Pay Bills page.
I have some articles you can check. These will discuss what to do with unapplied bill payments:
Do you need financial reports? Please check this link: Run reports in QuickBooks Online.
Need more help with bills? Leave a comment below and we'll reply as soon as we can.