The DAYS360 function means the function that calculates the number of days between two dates based on twelve 30 day months.
What is DAYS360 function in Excel?
In Excel, the DAYS360 function returns the number of days between two dates, in some accounting calculations.
How the DAYS360 function is used in Excel?
The DAYS360 function is used to compute payments of the accounting system between two dates. To use the function you will need to understand the syntax first. An example is also given in the further section.
Formula or Syntax
The Syntax of the DAYS360 function is:
Parameters or Arguments of function DAYS360
The arguments that are passed in the function are:
- Start_date: Required. The start_date argument is the date from which you want to know the number of dates.
- End_date: Required. The end_date argument will include the last date of the required data.
- Method: Optional. In the method argument, you can specify whether to use the U.S. or European method for calculation.
Another component users need to understand is the definition of the method. If the method is:
- FALSE or omitted: U.S. Method. If the starting date is the last day of a month, it becomes the 30th day of the month. If the ending date is the last day of the month and the starting date is earlier the 30th day of the same month, then the ending date becomes the 1st day of next month otherwise the ending date becomes the 30th day of the same month.
- TRUE: European Method. In this method, the starting dates and ending dates that occur on the 31st day of the month is considered as the 30th day of the same month.
Now, let us consider an example:
- Make a table of the Starting date and the ending date in any format supported by the Excel.
Figure 1. Take the example of the table data
- Now pass the DAYS360 function with valid arguments, i.e. DAYS360(start_date,end_date,[method]).
Figure 2. Pass the DAYS360 function
- Calculate the result for every date that is entered and lists the results in the respective cells.
Figure 3. Days calculated by the DAYS360 function
Note on Usage of DAYS360 function
The notes that must be remembered are listed below:
- Excel stores data in a sequential manner so that they can easily be used in calculations.
- If the specified start_date or end_date is numeric value but not valid, then the function will return the #NUM! Error value.
- In case the user enters the start_date and end_date argument is a text value that can’t be represented as a date than the function will return #VALUE! Error.
- If the method argument is non-numeric value then the function will again give a #VALUE! Error.