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The standard financial statements in Sage 50 include the "Standard Income 12 Period" report, which provides a monthly breakdown of the current fiscal year, displaying periods 1 through 12. However, there is no option to select a custom date range, limiting the report to only run for the current period. While it's possible to change the current period to an earlier open year, closed years cannot be accessed. To enable this functionality, you can create a custom financial statement by clicking the save button and naming it, allowing you to view and access the report under a new name in the report list.