Fresh Excel Tips

If there is an accounting system installed that is based on 12 30-day months, the DAYS360 function can be used. This function returns the number of days between two dates based on a 360-day year.
Here is the syntax:
DAYS360(start_date, end_date, method)
start_date: The start date.
end_date: The end date.
method: A logical value that specifies which method to use (U.S. or European).
U.S. (NASD) method: Used if method is FALSE. If the starting date is the 31st of a month, it is considered to be the 30th of the same month. If the ending date is the 31st of a month and the starting date is earlier than the 30th of the month, the ending date is considered to be the first of the next month; otherwise,
the ending date is considered to be the 30th of the same month.
European method: Used if method is TRUE. Starting or ending dates on the 31st of a month are considered to be the 30th of the same month.

How to calculate with 360-day years using the DAYS360 Function:

1. In a worksheet, copy the data in columns A and B from the example below.
2. Select cells C2:C10 and type the following formula: =DAYS360(A2,B2,FALSE).
3. Press Ctrl+Enter.

This tip will work should work in Excel 97, 2000, 2003 and 2007. If the DAYS360 Function is unavailable, you may need to read our previous article on how to activate it.

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