STEP 1
The only situation where you would delete a cycle is if it was created in error and never used.
In case the cycle has run, the better way to proceed is to close cycle for the following period by modifying the ending date of the cycle.
Start the transaction using transaction code KSU4.
STEP 2
Enter the cycle code and the starting date
and 
STEP 3
It will show a message to Validate the Deletion or not.
Click "Yes" to Delete the Cycle or "No" to not perform the deletion.
STEP 4
Cycle is now deleted. A message will show in the bottom of the screen.
