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Wednesday, March 11, 2009

Days360 to find number of days

This function returns number of days between two dates. Only difference between Days360 and Datedif is Days360 consider year as 360 days and 12 months of 30 days each. Days360 is useful in accounting systems where year needs to be considered as 360 days.

Formula: DAYS360(StartDate, EndDate, TrueorFalse)

True: Enables the formula for European account systems.

False: Enables the formula for USA account systems.

Take a look at the example in the table below. Copy-Paste the table starting from A1

Start Date End Date Formula Results
1-Jan-2009 7-Jan-2009 =DAYS360(A1,B1,True) 6
1-Jan-2009 1-Feb-2009 =DAYS360(A2,B2,True) 30
1-Jan-2009 31-Mar-2009 =DAYS360(A3,B3,True) 89
1-Jan-2009 1-Dec-2009 =DAYS360(A4,B4,True) 359

If you take a look at each row you will find that the formula does not include last day. Like 1-Jan-2009 and 7-Jan-2009 has 7 days between them. But formula returns 6. Hence, to correct this we will add 1 to formula.

=DAYS360(A1,B1,True) +1

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