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The "Standard Income 12 Period" report in Sage 50 provides a useful breakdown of the current fiscal year by month, from period 1 to period 12. However, it lacks the option to select a custom date range, limiting users to the current period. While you can change the current period to run reports for a previous period within open years, it is not possible to access closed years. To enable this functionality, users can click the save button while viewing the report, rename it, and create a custom financial statement, which will then appear in the report list as a new entry.