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The standard income 12-period report in Sage 50 is an essential tool, presenting the current fiscal year’s data broken down by month across periods 1 to 12. However, it lacks an option for selecting a custom date range, meaning it can only be run for the current period. To analyze a previous year, one would typically change the current period but cannot run the report for a closed year. To enable this functionality, users can click the save button while viewing the report, renaming it to create a custom financial statement. Once saved, the report can be accessed in the list of available reports.