how to calculate difference in months in excel for mac

Calculate Difference In Months In Excel Full Catalog For

Calculate Difference In Months In Excel Full Catalog For

Enroll today Corporate Finance Institute Courses Programs Certification Programs Financial Modeling Valuation (FMVA) Certified Banking Credit Analyst (CBCA) Capital Markets Securities Analyst (CMSA) Course Bundles Machine Learning Python Course Catalog Full Catalog For Business Account Settings Log Out My Dashboard Log In Get Started Menu Courses Programs Certification Programs Financial Modeling Valuation (FMVA) Certified Banking Credit Analyst (CBCA) Capital Markets Securities Analyst (CMSA) Course Bundles Machine Learning Python Course Catalog Full Catalog For Business Account Settings Log Out Log In Get Started DATEDIF Function Calculates the number of days, months, or years between two dates Home Resources Excel Resources Functions DATEDIF Function What is the DATEDIF Function The DATEDIF Function in Excel is categorized under Excel DateTime functions.

Functions List of the most important Excel functions for financial analysts.

This cheat sheet covers 100s of functions that are critical to know as an Excel analyst As a financial analyst Financial Analyst Job Description The financial analyst job description below gives a typical example of all the skills, education, and experience required to be hired for an analyst job at a bank, institution, or corporation.

Perform financial forecasting, reporting, and operational metrics tracking, analyze financial data, create financial models, we may require the number of days, months, or years between two dates.

Formula DATEDIF(startdate,enddate,unit) The DATEDIF function includes the following arguments: Startdate This is a required argument.

The function returns the number of complete years in the period.

The function returns the number of complete months in the period.

The function returns the number of complete Days in the period.

MD It calculates the difference between the days in startdate and enddate.

YM It calculates the difference between the months in startdate and enddate.

As seen below, Excel doesnt list this function when we type DATE in a cell.

Hence, we need to understand thoroughly the syntax of this function.

How to use the DATEDIF Function in Excel To understand the uses of this function, lets consider a few examples: Example 1 Lets say we wish to find the number of days between May 10, 2015 and July 10, 2017.

The formula to use would be: We can, on a similar basis, provide cell references.

For example, the following formula counts the number of days between the dates in cells A1 and B1: As we are aware that Excel stores each date as a serial number beginning with January 1, 1900, so we can put numbers corresponding to the dates directly in the formula.

For example, DATEDIF(42134, 42205, m) However, this method is not fully reliable as date numbering varies with different computer operating systems.

Example 2 Suppose we receive a list of debtors with outstanding debts.

We wish to calculate the number of days from the day they were required to pay until today, that is, July 31, 2017.

The solution we get is: Suppose you want the difference in weeks.

To find out how many weeks there are between two dates, we can use the DATEDIF function with D unit to return the difference in days, and then divide the result by 7.

The formula to be used is: The solution we get is in weeks: If we want, we can wrap the DATEDIF formula in the ROUNDDOWN function, which always rounds the number towards zero: ROUNDDOWN((DATEDIF(B2, A2, d) 7), 0) Example 3 To count the number of whole months between dates, DATEDIF function with M unit can be used.

The formula DATEDIF(startdate, enddate, m) compares the dates in A2 (start date) and B2 (end date) and returns the difference in months: Suppose we are given the following dates: The formula used is: The solution we get is: If you wish to ignore years, the formula to use would be DATEDIF(startdate, enddate, ym) The data given are: The formula used is: The solution we get is: Example 4 Suppose a flower store is required to send flowers to its customers on an anniversary date.

The data given are: The formula to be used is: The solution we get is: To learn more, launch our free Excel crash course now Notes about the DATEDIF Function in Excel NUM error Occurs when the startdate is greater than the enddate.

VALUE Error Occurs when Excel cannot recognize the date given, i.e., when the date argument is invalid.

Click here to download the sample Excel file Additional resources Thanks for reading CFIs guide to important Excel functions By taking the time to learn and master these functions, youll significantly speed up your financial analysis.

How To Calculate Difference In Months In Excel For Mac