Please Note: This article is written for users of the following Microsoft Excel versions: 2007, 2010, and 2013. 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: Leap Years and Fiscal Periods.

Leap Years and Fiscal Periods

by Allen Wyatt
(last updated November 5, 2015)

2

A company's fiscal year can end at any time, not just when a calendar year ends. When putting together a worksheet, you may want to calculate a date that is one year before or after a given date that represents the end of a fiscal period. This can be done quite easily with any number of formulas, such as the following:

=DATE(YEAR(D1)-1, MONTH(D1), DAY(D1))

This formula takes a date (cell D1) and subtracts a year from it. Thus, if D1 contains the date 6/30/13, then the formula returns 6/30/12.

This works great in most instances because most months have the same number of days from one year to the next. There is, of course, one exception—February. If you have a fiscal year that ends in February, the variable number of days in the month can play havoc with the above formula. If cell D1 contains 2/28/13, then the formula returns 2/28/12, when the real end of the fiscal period is 2/29/12. Similarly, if cell D1 contains 2/29/12, then the formula returns 3/1/11, which is obviously not what was intended.

There are a couple of ways you can determine the end of the fiscal period. The first is through the use of the EOMONTH function. This function is used to return the end of a month a given number of months in the past or future. For instance, if you wanted to know the last day of the month twelve months ago, you can use the following formula:

=EOMONTH(D1,-12)

You are not tied to use EOMONTH, however. You could also use a formula such as the following:

=DATE(YEAR(D1)-1, MONTH(D1)+1, 0)

This formula, just like the EOMONTH function, returns the end of the month for exactly one year ago. Another formula to return the end of month one year ago is as follows:

=D1-365-(DAY(D1)<>DAY(D1-365))

ExcelTips is your source for cost-effective Microsoft Excel training. This tip (12594) applies to Microsoft Excel 2007, 2010, and 2013. You can find a version of this tip for the older menu interface of Excel here: Leap Years and Fiscal Periods.

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

Printing a File List

It is often helpful to have a list of all the documents in a given directory or folder. Word doesn't have a built-in way to ...

Discover More

Word 2010 Mail Merge Magic (Table of Contents)

The mail merge tool available in Word is powerful, allowing you to use data from a variety of sources to create hundreds or ...

Discover More

Blank Page Printing after Table at End of Document

When you print, do you get an extra blank page printed at the end of the document? It could be because of the final paragraph ...

Discover More

Excel Smarts for Beginners! Featuring the friendly and trusted For Dummies style, this popular guide shows beginners how to get up and running with Excel while also helping more experienced users get comfortable with the newest features. Check out Excel 2013 For Dummies today!

More ExcelTips (ribbon)

Inserting Tomorrow's Date

You can use a couple of different worksheet functions to enter today's date in a cell. What if you want to calculate ...

Discover More

Finding the Dates for Minimums and Maximums

If you use Excel to maintain a collection of data, you may need to find information in one column based on information in an ...

Discover More

Calculating Averages by Date

When you have a huge amount of daily data to analyze, you may want to calculate an average of values for any given date in ...

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 two more than 4?

2015-11-05 07:19:59

Brian

Hi Juan, because the 'day' is set to 0, the formula calculates the date to be the zero day of this month, i.e. a non existent date, and therefore defaults to the last day of the previous month. The +1 will correct the date to this month.


2013-04-21 17:03:39

Juan

Why do you add +1 in this formula: =DATE(YEAR(D1)-1, MONTH(D1)+1, 0)?


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.