Please Note: This article is written for users of the following Microsoft Excel versions: 97, 2000, 2002, and 2003. If you are using a later version (Excel 2007 or later), this tip may not work for you. For a version of this tip written specifically for later versions of Excel, click here: Calculating Fractions of Years.
Written by Allen Wyatt (last updated August 5, 2023)
This tip applies to Excel 97, 2000, 2002, and 2003
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. This function is part of the Analysis ToolPak provided with Excel.
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 |
You should note that if the YEARFRAC function does not work on your system, it means you have not installed or enabled the Analysis ToolPak. To enable it, follow these steps:
If you did not see an Analysis ToolPak option in step 2, it means that you did not install the option when you first installed Excel. You can rerun the Excel Setup program and choose to install the option. You must then enable the add-in, and you can use the function.
ExcelTips is your source for cost-effective Microsoft Excel training. This tip (2562) applies to Microsoft Excel 97, 2000, 2002, and 2003. You can find a version of this tip for the ribbon interface of Excel (Excel 2007 and later) here: Calculating Fractions of Years.
Dive Deep into Macros! Make Excel do things you thought were impossible, discover techniques you won't find anywhere else, and create powerful automated reports. Bill Jelen and Tracy Syrstad help you instantly visualize information to make it actionable. You’ll find step-by-step instructions, real-world case studies, and 50 workbooks packed with examples and solutions. Check out Microsoft Excel 2019 VBA and Macros today!
When you filter data, Excel displays only a portion of what is really in a worksheet. If you want to count the number of ...
Discover MoreThe heart of any formula you put together in Excel is worksheet functions. This tip introduces you to worksheet functions ...
Discover MoreUsing Excel to maintain lists of information is not unusual. When working with the list you may need to determine how ...
Discover MoreFREE SERVICE: Get tips like this every week in ExcelTips, a free productivity newsletter. Enter your address and click "Subscribe."
There are currently no comments for this tip. (Be the first to leave your comment—just use the simple form above!)
Got a version of Excel that uses the menu interface (Excel 97, Excel 2000, Excel 2002, or Excel 2003)? This site is for you! If you use a later version of Excel, visit our ExcelTips site focusing on the ribbon interface.
FREE SERVICE: Get tips like this every week in ExcelTips, a free productivity newsletter. Enter your address and click "Subscribe."
Copyright © 2025 Sharon Parq Associates, Inc.
Please Note:
This article is written for users of the following Microsoft Excel versions: 97, 2000, 2002, and 2003. If you are using a later version (Excel 2007 or later), this tip may not work for you. For a version of this tip written specifically for later versions of Excel, click here:
Comments