The DAYS360 function calculates the number of days between a start_date and an end_date, based on a 12-month year of 30 days each. This is useful when accounts are calculated on the assumption of a 30-day month. The dates can be entered in either text or date code format.
method is either European (TRUE or omitted) or American (FALSE). If TRUE or omitted then start-dates or end-dates that refer to the 31st day of a month become 30; if FALSE then a start-date of 31 becomes 30, but an end-date of 31 becomes the 1st of the next month when the start-date is less than 30, otherwise the end-date becomes 30.
For example, the formula
DAYS360("25/1/97", "31/7/97", TRUE)
returns 185, whereas
DAYS360("25/1/97", "31/7/97", FALSE)
returns 186.
See also: