Please Note: This article is written for users of the following Microsoft Excel versions: 2007, 2010, 2013, 2016, 2019, and Excel in Office 365. If you are using an earlier version (Excel 2003 or earlier), this tip may not work for you. For a version of this tip written specifically for earlier versions of Excel, click here: Calculating Fractions of Years.

Calculating Fractions of Years

by Allen Wyatt
(last updated November 9, 2019)

2

One of the types of data that Excel allows you to store is, of course, dates. At some point you may wish to perform some calculations with the dates in your worksheet. It is not uncommon to need to figure out the percentage of a year represented by the difference between two dates. Excel allows you to calculate this easily using the YEARFRAC worksheet function.

To use the function, all you need to do is provide two dates and a value that specifies how Excel should calculate the fractional year:

=YEARFRAC(DateOne, DateTwo, Basis)

The dates used by YEARFRAC can be either static dates, or they can be references to cells that contain dates. The Basis value ranges between 0 and 4, with 0 being the default. The following are the different meanings for the Basis:

Basis Meaning
0 US 30/360
1 Actual/actual
2 Actual/360
3 Actual/365
4 European 30/360

ExcelTips is your source for cost-effective Microsoft Excel training. This tip (9366) applies to Microsoft Excel 2007, 2010, 2013, 2016, 2019, and Excel in Office 365. You can find a version of this tip for the older menu interface of Excel here: Calculating Fractions of Years.

Author Bio

Allen Wyatt

With more than 50 non-fiction books and numerous magazine articles to his credit, Allen Wyatt is an internationally recognized author. He is president of Sharon Parq Associates, a computer and publishing services company. ...

MORE FROM ALLEN

Determining the Hour of the Day

Need to know the current hour of the day? You can derive the information in your macros by using the Hour function, as ...

Discover More

Fitting Text Into Cells

Need a way to make sure your text fits within the space available in a table cell? Word has a handy setting that will ...

Discover More

Rounding by Powers of 10

Need to round a value by a power of 10? You can do it by using the ROUND function as described in this tip.

Discover More

Create Custom Apps with VBA! Discover how to extend the capabilities of Office 2013 (Word, Excel, PowerPoint, Outlook, and Access) with VBA programming, using it for writing macros, automating Office applications, and creating custom applications. Check out Mastering VBA for Office 2013 today!

More ExcelTips (ribbon)

Determining Contract Weeks

Everyone seems to determine the difference between dates differently. Nicole has a need to calculate contact weeks (the ...

Discover More

Calculating Future Workdays

Need to calculate the date that is a certain number of workdays in the future? You can do so using a couple of different ...

Discover More

Month for the Nth Sunday

Doing math with dates is quite easy in Excel. As this tip illustrates, this fact makes it easy to figure out the Nth ...

Discover More
Subscribe

FREE SERVICE: Get tips like this every week in ExcelTips, a free productivity newsletter. Enter your address and click "Subscribe."

View most recent newsletter.

Comments

If you would like to add an image to your comment (not an avatar, but an image to help in making the point of your comment), include the characters [{fig}] in your comment text. You’ll be prompted to upload your image when you submit the comment. Maximum image size is 6Mpixels. Images larger than 600px wide or 1000px tall will be reduced. Up to three images may be included in a comment. All images are subject to review. Commenting privileges may be curtailed if inappropriate images are posted.

What is four more than 7?

2019-11-09 07:00:31

DONtheMON

Thank you Willy. Information is not always clarification, but that source is a good reference to have.


2019-11-09 06:30:22

Willy Vanhaelen

Expanation about the meaning of the 5 basis arguments can be found at:
https://en.wikipedia.org/wiki/Day_count_convention


This Site

Got a version of Excel that uses the ribbon interface (Excel 2007 or later)? This site is for you! If you use an earlier version of Excel, visit our ExcelTips site focusing on the menu interface.

Newest Tips
Subscribe

FREE SERVICE: Get tips like this every week in ExcelTips, a free productivity newsletter. Enter your address and click "Subscribe."

(Your e-mail address is not shared with anyone, ever.)

View the most recent newsletter.