There is of course no set way of doing this, but a typical workflow would be :
-sort out the Click Track and tempo changes
-record scratch guitars(or whatever instrument needs to be present as a guide)
-delete scratch tracks, do all drum editing and comping
-record next most important rhythm instrument, bass, guitar or whatever.
-record subsequent tracks in order of their importance to the song, typically leaving the vocals and leads to last, any editing should be done during tracking or immediately after.
-record overdubs and "extra" parts.
The whole point of this process is to start with a strong rhythmic foundation and to build from there.
For a typical rock or metal song the order might be Drums, Rhythm Guitars, Bass, Vocals, Lead Guitars, then Extra stuff at the end.