Quickbooks, Xero and the smaller Sage programs have one failing over their more expensive counterparts. They use dates rather than periods for reporting. This can be a problem for those like myself who have to produce monthly management accounts. You can use tracking in Xero or Class in QBO to simulate P&L periods that are not affected by historical date changes such as late invoices.
However, this for several reasons, is not the same for the Balance Sheet. What I want is the ability to run a general ledger detailed Balance sheet report from QuickBooks between two dates and a report to detail the difference between the two reports by nominal code. It can be a datadear report but it must be readable as a GL report.