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The standard income 12 period report in Sage 50 provides a monthly breakdown of the current fiscal year from period 1 to 12. However, it lacks the option to select a specific date range, limiting users to run the report only for the current period. To work around this, users can change their current period to a prior open year and generate a new report for that year, though closed years remain inaccessible. By saving the report under a new name, it can be transformed into a custom financial statement, allowing for easier access and reporting flexibility in the future. The newly named report will then appear in the report list for convenience.