The Excel DAYS360 Function

Related Functions:
DAYS
NETWORKDAYS

Basic Description

The Excel Days360 function returns the number of days between 2 dates, based on a 360-day year (12 x 30 months).

The format of the function is :

DAYS360( start_date, end_date, [method] )

where the arguments are as follows:

start_date - The start of the period
end_date - The end of the period
[method] - An optional logical argument, which gives the method to be used in the calculation. This can be either:
FALSE (or omitted) - US (NASD) method used
or
TRUE - European method used

US vs. European Method

US Method:

  • If start date is last day of month it is set to 30th of that month
  • If end date is last day of month, then:
  • If start date is last day of month the end date is set to the 1st of the following month
  • Otherwise, the end date is set to 30th of that month

European Method:

  • If start date is last day of month it is set to 30th of that month
  • If end date is last day of month, then it is set to 30th of that month
The financial day count basis rules are explained in more detail on the Wikipedia Day Count Convention page

Note that the start_date and end_date arguments should be input as either:

or


- If you attempt to input the start_date and end_date as text, there is a chance that Excel may misinterpret this due to different date systems, or date interpretation settings.


Excel Days360 Function Examples

The spreadsheets below show simple examples of the Excel Days360 function. The format of the function is shown in the spreadsheet on the left and the results are shown in the spreadsheet on the right.

 Formulas:
  A B
1 01-Jan-2015 =DAYS360( A1, A2 )
2 31-Jan-2015 =DAYS360( A1, A2, TRUE )
3 01-Feb-2015 =DAYS360( A1, A3, FALSE )
4   =DAYS360( A3, DATE( 2015, 2, 2 ) )
 Results:
  A B
1 01-Jan-2015 30
2 31-Jan-2015 29
3 01-Feb-2015 30
4   1

In the above example :

Note also that, as recommended by Microsoft, in all four calls to the Days360 function, the start_date and end_date arguments have been supplied as either cell references or the return values from functions (in cell B4, the Date function is used to supply the end_date argument).


Further information and examples of the Excel DAYS360 function can be found on the Microsoft Office website.


DAYS360 Function Errors

Error
#NUM! - Occurs if one or both of the supplied arguments are numeric values, but are not recognised as valid dates.
#VALUE! - Occurs if one or both of the supplied arguments are text values that can not be interpreted as dates.
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