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DAYS360

Find the difference between two dates, based on a 360 days year cycle in Excel.
Calculates the number of days between two dates, based on a 360-day year

Rational

Find the difference between two dates, based on a 360 days year cycle.

Description

The Excel DAYS360 function result assumes that a Year is of 360 days, 30 days per month. Example; to calculate days duration between two dates, use =DAYS360(“01/05/2017”, “01/08/2018”) that returns ‘450’ but DAYS function would return ‘457’.
The function is useful to determine the difference between two dates for accounting purpose where the financials are base on 360 days calendar.

Syntax

=DAYS360(start_date,end_date,[method])

Parameters

start_date – First date or string of a date.
end_date – Second date or string of a date.
method [optional] – A Boolean expression (Yes/No). FALSE (default) will select the U.S. National Association of Securities Dealers (NASD) method and TRUE for European method.

Return Value

An Integer representing days.

Key Notes

  • The DAYS360 function is useful for 360 days calendar only. Use the DAYS function to find the number of days between two dates with a 365 or 366 days calendar year.
  • The default Boolean option result is U.S. NASD method if start_date is less than end_date.
  • For default U.S. NASD method, a start_date argument of day 31st changes to day 30th. Whereas an end_date argument of day 31st depends on the start_date argument. Like, if the start day is the 30th or 31st of a month, then the end date changes to day 30th of same month. Otherwise, if the start day is before 30th of a month, then the end date change to the first day of the next month.
  • In case user select ‘TRUE’ (European method), if the argument for start_date or end_date is 31st of a month, change to 30th of the same month.
  • The format of the return value cell of the DAYS360 function should ideally be in number or general format.
  • The DAYS360 function is suitable in case user want to enter dates enclosed in a double quote manually.

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