Not exactly.
You can appeal that the improper batter is at the plate before his at-bat is completed if you want to. But if you appeal it then, there's no real penalty. All that happens is that the correct batter is put at the plate and he assumes whatever count the improper batter had. Nobody is called out.
If you appeal it after the at-bat is completed (but before the next pitch), then the batter who should have batted is called out. Also, any other outs made on the play will stand.
If it's appealed after a pitch is thrown to the next batter, then it's too late to do anything about it. Once the next batter receives a pitch, all action up to that point stands and there is no further penalty.
So, you can see that it is to your advantage to wait until the improper batter completes the at-bat (but before the next pitch). If you do, then you will definitely be getting at least one out on the appeal.