Connecting the Black Wire for Nest Thermostat

Hi everyone, I’m in the process of upgrading my Honeywell thermostat to a Nest thermostat. I’ve managed to connect most of the wires correctly, but I’m a bit puzzled about the black wire. In my Honeywell setup, the wires are colored yellow (Y), green (G), blue (C), red (R), and black (W). I’ve connected Y to yellow, C to blue, G to green, and R to red. Now, I need to figure out where to connect the black wire, which is labeled W in my Honeywell setup.

From what I understand, the W wire is typically used for cooling in HVAC systems. Since I want the Nest to control both heating and cooling, I believe the black wire should be connected to the W terminal on the Nest thermostat. However, I’m not entirely sure if this is correct for my specific setup.

Does anyone have experience with this kind of wiring? I’d appreciate any advice or confirmation to ensure I connect everything properly. Let me know if you need more details about my current setup!