When a Balance Sheet is produced part way through the year and the 'show previous period' option is selected the period shown is for the same month in the previous year, not as at the end of the previous financial year. That can be very confusing, particularly if you have also produced an Income & Expenditure report and selected the 'comparative period' -Prior year complete (financial year end) and not 'prior period' (same month in previous year).

I suggest the Balance Sheet prior period should include the same options as the Income & Expenditure prior period options and the Balance Sheet should also include the prior period date in the heading, the same as is shown in the Income & Expenditure report.