The balanced homodyne detector is the paradigm of phase-sensitive detection schemes in quantum optics. We study the effects of a quantum local oscillator in a coherent state for this detector when it is coupled to a single signal mode. We calculate explicit general expressions for the output statistics of the difference current of this detector (applicable even to non-classical states), and compare them to the statistics of the so-called quadrature-phase amplitude. We show that the naive condition that the number of quanta in the local oscillator be much larger than the number in the signal is not sufficient to ensure that the homodyne detector approximates an ideal detectorof the quadrature-phase amplitude, further, we derive explicit conditions for this approximation to be achieved when the signal is a coherent state or a superposition of coherent states.