Projects cannot be deleted. This is for accounting purposes.

Projects can be archived. Archived projects remain in the account.

Archived projects are not shown on the project "Quick Change" dialog, but will appear on the Project list page and they can still be switched to from the Projects page.
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To archive a project:

2. Go to the Project list page by clicking "Projects" on the left navigation panel.
3. Select the project you want to archive.
4. Click the red "Archive" button that appears.
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5. On the page that appears, confirm the project information and click the red "Archive" button.