You can use folders both to sort reports and set them to not appear in the toolbar.
1. Select My Reports in the toolbar.
The Reports interface appears.
2. To add a folder, select New Folder.
The Folder name dialog appears.
3. Enter a Folder Name and select OK.
4. To add a report to the folder, drag it into the folder.
5. If you want a report to not appear in the P4 Plan toolbar, move it to the Hidden Reports folder.