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The "Standard Income 12 Period" report in Sage 50 provides a monthly breakdown of the current fiscal year, displaying periods 1 through 12. However, it lacks an option to select a date range, limiting its use to the current period. Users can work around this by changing the current period to an earlier open year to generate a report for that year; closed years cannot be accessed directly. To enable additional functionality, users can save the report under a new name (e.g., "My Income 12 Period"), transforming it into a custom financial statement. The name change will be reflected in the report and the list of available reports, allowing for easier retrieval in the future.