PREV-YR-TOT – Previous Year Budget Totals - Nominal

It is perfectly possible to start a new year in the nominal ledger well in advance of the current year-end. For example, if you start your annual budgeting cycle six months (say) before the end of the current year, you might want to start the new year now, even though there are six months of the current year to go. In such a case you could well want to revise last year’s budgets, because last year hasn’t ended yet.