YEAR FRAC
Syntax
=YEARFRAC(StartDate,EndData,Basis)
Basis : Defines the calendar system to be used in the function.
0 : or omitted USA style 30 days per month divided by 360.
1 : 29 or 30 or 31 days per month divided by 365.
2 : 29 or 30 or 31 days per month divided by 360.
3 : 29 or 30 0r 31 days per month divided by 365.
4 : European 29 or 30 or 31 days divided by 360.
Example:
The following table was used by a company which hired people on short term contracts for a part of the year. The Pro Rata Salary which represents the annual salary is entered. The Start and End dates of the contract are entered. The =YEARFRAC() function is used to calculate Actual Salary for the portion of the year.
| Start | End | Pro Rata Salary | Actual Salary | |
| 1-Jan-98 | 31-Dec-98 | £12,000 | £12,000 | =YEARFRAC (B32,C32+1,4) *D32 |
| 1-Jan-98 | 31-Mar-98 | £12,000 | £3,000 | =YEARFRAC (B33,C33+1,4) *D33 |
| 1-Jan-98 | 30-Jun-98 | £12,000 | £6,000 | =YEARFRAC (B34,C34+1,4) *D34 |
Note
The extra 1 has been added to the End date to compensate for the fact that the =YEARFRAC() function calculates from the Start date up to, but not including, the End date.
