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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 to 12. However, it lacks an option to select a date range, limiting reports to the current period. Users can change their current period to a previous open year to generate reports for that year, but not for closed years. To enable functionality for closed years, users can create a custom financial statement. By clicking the save button and assigning a new name, the report becomes a custom version—allowing for better reporting options while keeping the original format.