There is a module available for this by default. You can find it at https://apps.openerp.com/apps/modules/8.0/hr_payroll_cancel/
In order know stages in which we can can a Pay Slip you need to follow the following steps :-
Assuming HR Pay Roll module is installed.
Go to Settings >Work-flows>Work-flows. Under the heading Name you can see that there is an line item CANCEL. On clicking on it you would be able to see, in which stages a payslip can be canceled.
Screen shot :-http://prntscr.com/ac8w33
Hope this helps
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