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The "Standard Income 12 Period" report in Sage 50 presents a breakdown of the current fiscal year by month, displaying periods 1 through 12. However, there is no option to select a date range, limiting the report to the current period. Users can set their current period to an earlier date in one of the two open years to run the report for that period, but not for closed years. To enable this functionality, users can save the report with a new name, effectively creating a custom financial statement. After saving, the report name changes, and it will appear in the list of reports.