Saturday, February 4, 2012

Formula To Convert Date To Financial Year In MS Excel (07-Feb-1987 = FY 1986-87)

Today one of my friend asked me, the Formula to converts Date into Financial Year in MS Excel. I thought it is better to explain the same in my blog for the interest of other visitors.

Financial Year is 12 Months period which usually the Company follows according to their Accounting Policy. Here, I am going to explain you the Formula for the Financial Year which starts from the 1st Day of April Month and ends on 31st Day of March Month in the Following Year.

For Example, the Financial Year of 04 February, 2012 is 2011-12

Formula :

=IF(MONTH(A1)>3,"FY "&YEAR(A1)&"-"&RIGHT(YEAR(A1)+1,2),"FY "&YEAR(A1)-1&"-"&RIGHT(YEAR(A1),2))

Functions used in the Formula?

The formula consists of the following Excel Functions

  1. Logical Function - IF
  2. Date Functions - Month & Year
  3. Text Function - Right
How the Formula Works?

In Simple Text..

     If the Month number of the Date is Greater Than 3 (three).. then the result should be the Year of the Date and Following Year of Date or else, the result should be the Prior Year of the Date and Year of the Date. Of course, Hyphen symbol (-) between these two years.

   RIGHT Function in the Formula is just to format the result. If we want the result as FY 2010-2011 then RIGHT function is not required. But we want to show the result as FY 2010-11 then we have to use Right Function (How to use Right Function in MS Excel). Right Function will results the last two characters of the second part of the result.

    & symbol  in the Formula is to combine all parts of the result. Even you can use CONCATENATE Function for the same result.


  1. Dear Friend,
    I stand here with a problem to be solved.

    I have two (trial balances)excel sheets with same figures but while entering data I missed out some figures in 2nd sheet which was entered manully.

    so my problem is how to solve this problem.

    Thanks in advance

    Anupama Asst.Manager (F & A)

  2. Dear Anupama,
    I think you are talking about the effect on 2nd sheet , while editing the first one. If so, kindly check whether both the sheet has been selected, change made in one sheet will affect the same cell in 2nd sheet, Deselect the sheet by clicking on the sheet name

  3. Thank you for a great post. Worked wonders in minutes.

  4. Very useful, saved me lots of time - many thanks!

  5. Very useful post. I used the same formula for my MS Access Report to get the financial Year. I replaced IF with IIF. Thank you very Much


  7. Works like dream... .. Thanks.

  8. Excellent !
    Thanks. Saved me a lot of time.

  9. Excellent formula. Saved me a lot of time experimenting.

  10. You talk about financial formula convert way. I have seen this formula very seriously. I need information finance homework help. I know that you are expert about financial. So You are able to help me.

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  12. Nice blog. I understand that we all need these formulas for financial assignment. I need an expert which can do best job for me in finance.

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  14. Excel has lot of good formulas and such one used for making things in right direction. The conversion of things in order leads for use such one for needy aspects. This mention in fro more uses.

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  16. Good post,, They should not empower understudies to save from preoccupations. Until the point, that adaptable would be on they would be involved by purposeless activities. This site help you to find more things.

  17. It is really important to learn the different functions of excel in order to make different financial model. Basic understanding of the excel functions can make significant thing to the SaaS Financial Model which is also relevant to this formula.

  18. Thank you so much it works and important formula

  19. Great work did by you. Informative and problem-solving content that users can easily digest can work for all types of blogs. When a user finds something informative on a blog, he/she is more likely to come back from your side.
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  20. Dear sir
    i want to convert date in different cell like a1=10(date), b1=12(month), c1=2018(year) in f.y. like 2018-19 so please guide me

  21. this really helps, i have one query, exp FY20 FY starts from Apr2019 and ends Mar2020, any date comes under between two then it will be FY20, so how to apply this furmula to get only FY20 not FY19-20 from date , i would be great if you help on this . after used this i got FY 19-20 but i am loking for only FY20(apr2019-mar-2010, FY19(Apr-2018-Mar-2019)


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