QB Issue Resolution:

Yes you can.  What you want to do is go to your company overview report in management reports.  Click the drop down and choose edit.  Click the Profit and Loss report and then click the trash can to delete it.  Now click Add New Report.  Re-add the Profit and Loss report.  It will be under the Balance Sheet.  Now click Save and Close and give your report a new name.  It will save your modified company overview report with a new name. (you cannot permanently change the default template for the report so it saves it as a new report)

Resolution for Issue 'Can I change the order of the reports in the Management Reports? (I want the Balance Sheet to appear first.)' available: Yes (Solved).
Source: Intuit Community forum.

Can I change the order of the reports in the Management Reports? (I want the Balance Sheet to appear first.): this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

Support for Balance Sheet
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