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 a Date Five Days before the First Business Day.

Calculating a Date Five Days before the First Business Day

by Allen Wyatt
(last updated December 1, 2018)

DeWayne has a date in cell A1, and it is easy to extract the month from that date. What he needs to do, however, is to calculate the date that is five calendar days before the first business day of the month. Thus, if the date in cell A1 is September 26, 2012, then the first business day of the month would be September 3 and five days before that would be August 29.

There are many different formulas you can use to derive such a date. The shortest one that I've come across is this one:

=WORKDAY(A1-DAY(A1),1)-5

It subtracts the day of the month from the current date, which gives the last day of the previous month. Using this as a parameter for the WORKDAY function, along with a second parameter of 1, gives you the first workday (business day) of the current month. Five days is then subtracted from this date, giving the desired result.

You could also, if you prefer, use the EOMONTH function within the formula, in this manner:

=WORKDAY(EOMONTH(A1,-1),1)-5

The EOMONTH(A1,-1) portion of the formula gives the same result as A1-DAY(A1), which is the last day of the previous month.

You could also use the third parameter of the WORKDAY function to take holidays into account, if you desire. The easiest way to do this is in this manner:

=WORKDAY(A1-DAY(A1),1,MyHolidays)-5

In this usage, MyHolidays is a name you assign to a range of cells, where each cell contains the date of a holiday during the year.

It should be noted that the two functions used so far (WORKDAY and EOMONTH) are both part of the Analysis ToolPak, which must be installed and enabled on your system in order for the functions to work. (How you enable the ToolPak is covered in other issues of ExcelTips.)

If you don't want to use the Analysis ToolPak for some reason, you can use a different formulaic approach, such as the following:

=A1-DAY(A1)+1+(WEEKDAY(A1-DAY(A1))=7)+2*(WEEKDAY(A1-DAY(A1))=6)-5

The formula calculates the first day of the month and then adds appropriate values based on whether the first day of the month is a Saturday or Sunday. Then, five days are subtracted from the result.

ExcelTips is your source for cost-effective Microsoft Excel training. This tip (12178) 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 a Date Five Days before the First Business Day.

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

Weekdays in a Month

Want to find out how many of a particular weekday occurs within a given month? Here's how you can find the desired ...

Discover More

Highlighting Duplicate Words

One way to help improve your writing is to minimize the number of duplicated words you use in your prose. Depending on ...

Discover More

Inserting Page Number Cross-References

Want to insert a dynamic cross-reference to a particular page number? It's easy to do following the steps in this tip.

Discover More

Professional Development Guidance! Four world-class developers offer start-to-finish guidance for building powerful, robust, and secure applications with Excel. The authors show how to consistently make the right design decisions and make the most of Excel's powerful features. Check out Professional Excel Development today!

More ExcelTips (menu)

Monthly Close-Out Dates

If your company closes out its accounting months at the end of each calendar quarter, figuring out the proper closing ...

Discover More

Displaying a Number as Years and Months

How do you display a number of years, such as 3.67 years, as a number of years and months? It's simple to do with a ...

Discover More

Every Second Tuesday

Need a way to enter dates from every second Tuesday (or some other regular interval)? Excel makes it easy, providing ...

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 8 + 7?

There are currently no comments for this tip. (Be the first to leave your comment—just use the simple form above!)


This Site

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.

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.