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The Standard Income 12 Period report in Sage 50 is a valuable tool that presents the current fiscal year broken down by month, from period 1 to period 12. However, it does not allow for a date range selection, restricting users to the current period only. Users can, though, change the current period to an earlier open year to analyze that year. To enable additional functionality, users can click the save button while viewing the report to create a custom financial statement. By naming it, for instance, "My Income 12 Period," the report will display with the new name both on the report and in the list of available reports.