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.
Solve Real Business Problems Master business modeling and analysis techniques with Excel and transform data into bottom-line results. This hands-on, scenario-focused guide shows you how to use the latest Excel tools to integrate data from multiple tables. Check out Microsoft Excel 2013 Data Analysis and Business Modeling today!
If you need to do some work in the base-8 numbering system (octal), you'll love two worksheet functions provided by Excel ...
Discover MoreDifferent professions use numbers in entirely unique ways. You may need to come up with a number that represents the ...
Discover MoreDoes your data require that you perform calculations using circular references? If so, then you'll want to be aware of ...
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 © 2024 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