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The "Standard Income 12 Period" report in Sage 50 is a useful tool for analyzing the current fiscal year on a monthly basis, displaying periods 1 through 12. However, it has a limitation: users cannot select a specific date range for the report, as it can only run for the current open period or a previous open year by adjusting the current period. To enable more flexibility, you can create a custom financial statement. This is done by clicking the save button while viewing the report and giving it a new name, which allows it to function with the desired date range. This custom report will then appear in the list for future access.