When you click the Delete button on the Receive Payments form, you will get a message warning that you are about to delete the selected payment. You have the option at this point to cancel or go ahead and delete the selected record. If you confirm that you want to delete the selected record, VisionCore will delete it and there will be No way of retrieving that receivable again.
The Delete button can be disabled so that other users can't delete any of the customer payment records. You can enable or disable the Permission checkbox for Delete Customer Payment in the Security form > Form Permission Tab.