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The "Standard Income 12 Period" report included in Sage 50 financial statements provides a monthly breakdown of the current fiscal year, labeled from period 1 to period 12. However, there's no option to select a date range, limiting the report to the current period. While users can switch the current period to an earlier open year, they cannot access closed years. To enable this functionality, users can create a custom financial statement by clicking the save button while viewing the report, assigning it a new name (e.g., "My Income 12 Period"). This new report will now appear in the report list, allowing for easier access.