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The standard financial statements in Sage 50 include a report called the Standard Income 12 Period, which presents the current fiscal year broken down by month from period 1 to period 12. There is no option to select a date range; the report can only be run for the current period. However, users can change the current period to a previous open year to run the report for that year, but closed years cannot be accessed. To enable functionality for closed years, simply save the report under a new name, creating a custom financial statement. This process allows users to retain the report's format while making it available in the report list.