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The "Standard Income 12 Period" report in Sage 50 is a valuable tool that presents the current fiscal year data broken down by month, covering periods 1 through 12. However, it lacks the option to select a date range, meaning it can only run for the current period. Although you can adjust the current period to access prior open years, closed years cannot be accessed. To enable this functionality, save the report with a new name, converting it into a custom financial statement. This allows the report to be renamed and listed among your custom reports for easier access and analysis.