Hello and welcome to the Community forum, chrischeah.
I got the point on how you want the Balance Sheet report generates in QuickBooks Online. However, the report displays as total assets equal the combined amount of liabilities plus equity. It's how the Balance Sheet report works and we're currently unable to change it.
If you compare the Balance Sheet report to others, you may notice that there's quite different between them. There are some factors affect why it doesn't match. To gather the complete details, I would recommend checking it here: What is a Balance Sheet report?.
Also, you may want to check our blog website to keep-up-to-date the latest release features, such as managing reports, transactions, and anything that may benefit your business.
Please don't hesitate to post again if you have more questions to ask. I'll be around to help. Take care and stay safe.
