The DAYS360
function calculates the number of days
between two dates using a 360 day year.
- The syntax
for the function is DAYS360 (start_date,
end_date, method).
The "start_date"
and "end_date" must be a string
or a recognizable date format in Excel. "method" requires
a logical value that represents the
different methods of dividing the
year into twelve 30 day months.
- 0, "FALSE" or
omitted uses method 1 .
- 1, "TRUE" uses
method 2.
Method
1 uses the
US method, treating the starting dates
and end dates differently.If the start
date or end date is the last day of
the month it becomes the 30th day of
the same month (regardless of it being
the 31st or the 28th) But if the start
date earlyer than the 30th of the month
and the end date is still the last
day of the month the end date hets
promoted to the 1st of the next month.
Method
2 uses the European method converts any
dates that fall on the 31st or 30th of
a month to the 30th day of the same month.
Each method uses
a different way of counting. For
example:
DAYS360 ("10/19/2006", "3/31/2007", 0)
= 162 and DAYS360 ("10/19/2006, "3/31/2007",
1) = 161 The values are different because
the method 1 adds an extra day as it promoted
the last day of the month to the first
day of the next month.
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