Here you can create, view, archive, and edit checklists. To archive checklists; click on “Setup” and then “Transactions” from your dashboard.   

Go to the tab that says "Checklists".

When you archive a checklist it will not longer be able to be selected in transaction as a checklist to add but if it is already on a transaction it will remain there.

To archive a checklist just click on the Archive button next to the checklist name.

To remove the checklist from the archive click on the Remove from Archive button.