YEARFRAC - Calculate the difference between 2 dates
Syntax
=YEARFRAC(StartDate,EndDate,Basis)
Basis: Defines the calendar system to be used in the function.
- 0 : or omitted USA style 30 days per month divided by 360.
- 1 : 29 or 30 or 31 days per month divided by 365.
- 2 : 29 or 30 or 31 days per month divided by 360.
- 3 : 29 or 30 or 31 days per month divided by 365.
- 4 : European 29 or 30 or 31 days divided by 360.
Formatting
The result will be shown as a decimal fraction, but can be formatted as a percent.
The following table was used by a company which hired people on short term contracts for a part of the year. The Pro Rata Salary which represents the annual salary is entered. The Start and End dates of the contract are entered. The =YEARFRAC() function is used to calculate Actual Salary for the portion of the year.
Example 1
- Start Date (B):1-Jan-2014
- End Date (C):31-Dec-2014
- Actual Salary (D):Rs. 12000
- Prorata Salary:Rs. 12000 =YEARFRAC(B,C+1,1)*D
Example 2
- Start Date (B):1-Jan-2014
- End Date (C):31-Mar-2014
- Actual Salary (D):Rs. 12000
- Prorata Salary:Rs. 3000 =YEARFRAC(B,C+1,1)*D
Example 3
- Start Date (B):1-Jan-2014
- End Date (C):30-Jun-2014
- Actual Salary (D):Rs. 12000
- Prorata Salary:Rs. 6000 =YEARFRAC(B,C+1,1)*D
Note
The extra 1 has been added to the End date to compensate for the fact that the =YEARFRAC() function calculates from the Start date up to, but not including, the End date.
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