It would be rare for you to want to change last year’s budgets, but this allows you to do so. The option is similar to Enter Current Year Budget Totals described above except that it is used to update the previous year’s budget totals. The final column shows the actual total for the year before last year.
Note
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.
Article ID: 1004
Created On: Wed, Jun 27, 2012 at 11:58 AM
Last Updated On: Mon, Jun 19, 2023 at 7:26 PM
Online URL: https://kb.datafile.co.uk/article/prev-yr-tot-â€-previous-year-budget-totals-nominal-1004.html