Yes, you can, @suzyb33.
You can set the payment method as inactive. Making it inactive is another way of deleting it in the payment method options. I'd be glad to walk you through the steps in your QuickBooks Online (QBO) account.
Here's how:
- Go to the Gear icon.
- Select All Lists.
- Click the Payment Method.
- Choose a payment method and click the Run report drop-down menu and select Make Inactive.

Furthermore, here's an article you can use for future reference. This can guide you in personalizing your invoice and add information to your sales form that matters the most: Customize invoices, estimates, and sales receipts in QuickBooks Online.
Let me know if there's anything I can help you with by leaving a comment. I'm always here ready to assist you anytime.