Skip to content
xlsoffice. All Rights Reserved
  • Home
  • Excel For Beginners
  • Excel Intermediate
  • Advanced Excel For Experts

Lookup and Reference Examples

  • Two-column Lookup in Excel
  • Count unique text values with criteria
  • To count total rows in a range in Excel
  • How to use Excel ROWS Function
  • Complete List of Excel Lookup and Reference Functions, References and Examples

Data Analysis Examples

  • How to calculate current stock or inventory in Excel
  • Example of COUNTIFS with variable table column in Excel
  • Conflicting Multiple Conditional Formatting Rules in Excel
  • Understanding Pivot Tables in Excel
  • Calculate Conditional Percentile ‘IF’ in table in Excel

Data Validation Examples

  • Excel Data validation only dates between
  • Excel Data validation number multiple 100
  • Excel Data validation require unique number
  • Excel Data validation with conditional list
  • Excel Data validation allow uppercase only

YEARFRAC function: Description, Usage, Syntax, Examples and Explanation

by

What is DATEDIF function in Excel?

DATEDIF function is one of Date and Time functions in Microsoft Excel that calculates the fraction of the year represented by the number of whole days between two dates (the start_date and the end_date). For instance, you can use YEARFRAC to identify the proportion of a whole year’s benefits, or obligations to assign to a specific term.

Syntax of DATEDIF function

YEARFRAC(start_date, end_date, [basis])

The YEARFRAC function syntax has the following arguments:

  • Start_date    Required. A date that represents the start date.
  • End_date    Required. A date that represents the end date.
  • Basis    Optional. The type of day count basis to use.
Basis Day count basis
0 or omitted US (NASD) 30/360
1 Actual/actual
2 Actual/360
3 Actual/365
4 European 30/360
Worked Example:   Calculate retirement date in Excel

Important:

  • Dates should be entered by using the DATE function, or as results of other formulas or functions. For example, use DATE(2018,5,23) for the 23rd day of May, 2018. Problems can occur if dates are entered as text.
  • The YEARFRAC function may return an incorrect result when using the US (NASD) 30/360 basis, and the start_date is the last day in February.

DATEDIF formula explanation

  • 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, 2018 is serial number 43101 because it is 43,101 days after January 1, 1900.
  • All arguments are truncated to integers.
  • If start_date or end_date are not valid dates, YEARFRAC returns the #VALUE! error value.
  • If basis < 0 or if basis > 4, YEARFRAC returns the #NUM! error value.
Worked Example:   Get age from birthday in Excel

Example of DATEDIF function

  • Get days between dates ignoring years 
  • Calculate years between dates in Excel

Steps to follow:

1. Open a new Excel worksheet.

2. Copy data in the following table below and paste it in cell A1

Note: For formulas to show results, select them, press F2 key on your keyboard and then press Enter.

Worked Example:   How to calculate percent of year complete in Excel

You can adjust the column widths to see all the data, if need be.

Data Description
1/1/2012 Start date
7/30/2012 End date
Formula Description Result
=YEARFRAC(A2,A3) Fraction of the year between 1/1/2012 and 7/30/12, omitting the Basis argument. 0.58055556
=YEARFRAC(A2,A3,1) Fraction between same dates, using the Actual/Actual basis argument. Because 2012 is a Leap year, it has a 366 day basis. 0.57650273
=YEARFRAC(A2,A3,3) Fraction between same dates, using the Actual/365 basis argument. Uses a 365 day basis. 0.57808219

Post navigation

Previous Post:

DATEDIF function: Description, Usage, Syntax, Examples and Explanation

Next Post:

YEAR function: Description, Usage, Syntax, Examples and Explanation

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Learn Basic Excel

Ribbon
Workbook
Worksheets
Format Cells
Find & Select
Sort & Filter
Templates
Print
Share
Protect
Keyboard Shortcuts

Categories

  • Charts
  • Data Analysis
  • Data Validation
  • Excel Functions
    • Cube Functions
    • Database Functions
    • Date and Time Functions
    • Engineering Functions
    • Financial Functions
    • Information Functions
    • Logical Functions
    • Lookup and Reference Functions
    • Math and Trig Functions
    • Statistical Functions
    • Text Functions
    • Web Functions
  • Excel VBA
  • Excel Video Tutorials
  • Formatting
  • Grouping
  • Others
  • TEXT function: Description, Usage, Syntax, Examples and Explanation
  • Remove file extension from filename in Excel
  • CLEAN function: Description, Usage, Syntax, Examples and Explanation
  • FIND, FINDB functions: Description, Usage, Syntax, Examples and Explanation
  • How to Separate Text Strings in Excel
  • Calculate date overlap in days in Excel
  • Sum through n months in Excel
  • Convert text date dd/mm/yy to mm/dd/yy in Excel
  • Get days before a date in Excel
  • Basic timesheet formula with breaks in Excel
  • PMT function: Description, Usage, Syntax, Examples and Explanation
  • VDB function: Description, Usage, Syntax, Examples and Explanation
  • CUMIPMT function: Description, Usage, Syntax, Examples and Explanation
  • Calculate cumulative loan interest in Excel
  • How to calculate present value of annuity in excel
© 2022 xlsoffice . All Right Reserved. | Teal Smiles