DEFINITION:- DAYS360 Function Returns The Number Of Days Between Two Dates Based On A 360-Day A Year. This Function Helps To Calculate Days Based On A 360-Day Year. For Some Accounting Calculations Where All Months Are Considered To Have 30 Days. This Used In Some Accounting Calculations.
SYNTAX:- =DAYS360 (START_DATE, END_DATE, [METHOD])
(1) START_DATE – THE START DATE.
(2) END_DATE – THE END DATE.
(3) METHOD – OPTIONAL. A LOGICAL VALUE TRUE or FALSE THAT SPECIFIES WHETHER TO USE THE U.S. OR EUROPEAN METHOD IN THE CALCULATION.
IMPLEMENT:- If True Is Provided As Method, The DAYS360 Function Will Use The European Method. If False Is Provided As Method, The DAYS360 Function Will Use The US Method. If No Method Provided, The DAYS360 Function Will Use The US Method By Default.
| Method | US / European Method | Description |
|---|---|---|
| False Or Not Provided Method | U.S. Method. | If The Starting Date Is The 31St Day Of A Month, It Will Be Count As 30Th Day Of The Same Month. If The Ending Date Is The Last Day Of A Month And The Starting Date Is Earlier Than The 30Th Day Of A Month, The Ending Date Count As The 1St Day Of The Next Month; Otherwise The Ending Date Becomes Equal To The 30Th Day Of The Same Month. |
| TRUE Method | European Method | Starting Dates And Ending Dates That Represent The 31St Day Of A Month Will Be Count As The 30Th Day Of The Same Month |
EXAMPLES :-
(1) DAYS360 Function Calculate Based On A 360-Day Year Where All 12 Months Are Considered To Have 30 Days.
(2) If The Start Date Is The 31St Day Of A Month, It Will Be Count As The 30Th Day Of The Same Month.
(3) If The End Date Is The 31st Day Of A Month And The Start Date Is Earlier Date Than The 30Th Day Of A Month, The End Date Will Be Count As 1st Day Of The Next Month, Otherwise The End Date Count It As 30th Day Of The Same Month.
(4) Start Date And End Date That Represent The 31St Day Of A Month Will Be Count As 30Th Day Of The Same Month.
(5) Difference Between U.S. Method And European Method.
