Calculations using Dates

PrevContributor
PrevContributor
in Modeling

I need help developing a formula that looks at the start and end dates for an agreement (eg. rent, where rent amount per month is fixed).  The agreement can straddle months or years. I would like to show rent mont by month on a timescale, however, be able to prorate the rental amount in the initial month and the final month where the agreement start and end part-way through the month (eg. Agreement starts 12 August 2016, Ends 22 September 2018 and assume monthly rental of $1000)

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Answers

  • PrevContributor
    PrevContributor
    Use "start" and "days" functions to fix number of days and then prorata
  • peter_mcanena
    peter_mcanena
    You can prorate the opening month like this:
    (END() - Agreement Start + 1) / DAYS()
    And prorate the closing month like this:
    (Agreement End - START() + 1) / DAYS()
    ...assuming that Agreement Start and Agreement End are the first and last days of your agreement respectively.

    These formulae give you a pro-rata multiplier to apply to your rent or whatever.
  • njduncanson
    njduncanson

    Did you get a response on this question?  I'm trying to do the same, but don't see how to logically calculate if the month is withing the start-end of the agreement.

  • Egor
    Egor

    Hi,

     

    It is actually quite easy to check if a period is within two dates. You will have to convert the dates to periods using PERIOD function. Having done that you can compare periods with < or > operators as you would compare numbers.

     

    Ex. IF June 2017 < August 2017 THEN TRUE ELSE FALSE will give us TRUE as a result.

     

    See screenshots attached for more details.

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