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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 data broken down by month, covering periods 1 to 12. However, the report does not allow for date range selection, limiting it to the current period. To access data from a closed year, users can create a custom financial statement by clicking the save button while viewing the report. By naming it (e.g., "My Income 12 Period"), the report will be saved as a custom version, and it will appear in the list of reports for future access. This modification effectively enables users to bypass the limitation on date ranges.