FUNCTION DAYS360
This function returns the number of days between two dates based on a 360-day year (twelve 30-day months), which is used in some accounting calculations. Use this function to help compute payments if your accounting system is based on twelve 30-day months.
How does it work?
=DAYS360(start_date,end_date,method)
Where
Start_date & end_date are the two dates between which you want to know the number of days. If start_date occurs after end_date, DAYS360 returns a negative number. Dates should be entered by using the DATE function, or as results of other formulas or functions. For example, use DATE(2008,5,23) for the 23rd day of May, 2008. Problems can occur if dates are entered as text.
Method is a logical value that specifies whether to use the U.S. or European method in the calculation.
FALSE or omitted
U.S. (NASD) method. If the starting date is the last day of a month, it becomes equal to the 30th of the same month. If the ending date is the last day of a month and the starting date is earlier than the 30th of a month, the ending date becomes equal to the 1st of the next month; otherwise the ending date becomes equal to the 30th of the same month.
TRUE
European method. Starting dates and ending dates that occur on the 31st of a month become equal to the 30th of the same month.
Remark
Microsoft Excel stores dates as sequential serial numbers so they can be used in calculations. By default, January 1, 1900 is serial number 1, and January 1, 2008 is serial number 39448 because it is 39,448 days after January 1, 1900. Microsoft Excel for the Macintosh uses a different date system as its default.
How does it work?
=DAYS360(start_date,end_date,method)
Where
Start_date & end_date are the two dates between which you want to know the number of days. If start_date occurs after end_date, DAYS360 returns a negative number. Dates should be entered by using the DATE function, or as results of other formulas or functions. For example, use DATE(2008,5,23) for the 23rd day of May, 2008. Problems can occur if dates are entered as text.
Method is a logical value that specifies whether to use the U.S. or European method in the calculation.
FALSE or omitted
U.S. (NASD) method. If the starting date is the last day of a month, it becomes equal to the 30th of the same month. If the ending date is the last day of a month and the starting date is earlier than the 30th of a month, the ending date becomes equal to the 1st of the next month; otherwise the ending date becomes equal to the 30th of the same month.
TRUE
European method. Starting dates and ending dates that occur on the 31st of a month become equal to the 30th of the same month.
Remark
Microsoft Excel stores dates as sequential serial numbers so they can be used in calculations. By default, January 1, 1900 is serial number 1, and January 1, 2008 is serial number 39448 because it is 39,448 days after January 1, 1900. Microsoft Excel for the Macintosh uses a different date system as its default.
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