Archive a bill
Stop tracking a bill while keeping everything you have already paid.
Open Bills, tap the bill, and scroll to the bottom. Tap Archive Bill.
If this month's payment is still open, Carlo asks what to do with it: Keep it on the books, or Remove it. Either choice archives the bill straight away, so there is no second confirmation to look for. If nothing is open this month you simply get Archive.
Upcoming payments are then removed and the bill leaves your list, but every payment you already recorded stays exactly where it is, in your categories, your reports and your history. Archiving never deletes anything you have paid.
To bring it back later, go to More, then Data & Records, then Archived Items, and find it under Bills. Restoring returns it to your list and starts generating payments again from this month forward.
In a shared space archiving is the only way to retire a bill, since shared bills cannot be permanently deleted. Either of you can restore it afterward.