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The Standard Income 12 Period report included in Sage 50 provides a monthly breakdown of the current fiscal year, displaying data from periods 1 to 12. However, it lacks the option to choose a specific date range, limiting the report to the current period. Users can work around this by adjusting the current period to an earlier open year, but closed years cannot be accessed directly. To enable functionality for a closed year, users can save the report with a new name, creating a custom financial statement. This allows the report to be renamed (e.g., My Income 12 Period) and adds it to the report list for future access.