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The standard financial statements in Sage 50 include a report called the Standard Income 12 Period, which offers a monthly breakdown of the current fiscal year from period 1 to period 12. However, there is no option to select a specific date range, limiting the report to the current period. To view a closed year, you can change the current period to an open year, but this is cumbersome. A simple solution is to create a custom financial statement by saving the report with a new name, allowing you to access it later. After saving, the report name updates, and it becomes available in the report list, enabling easier tracking and analysis of financial data.