software

I'm trying to use date formulas to show the amount of days between an
invoice date and a Due Date. I'm using DAYS360 to figure out the number
of days between the two dates, and I'm trying to figure in a 5 day
quot;Grace periodquot; before the time shows late and the customer gets a late
fee. I was using an quot;IFquot; formula for the grace period (ex: =IF(A1gt;5,
true,false)) My problem is, of course, Weekends. Since this formula to
figure out days late will continue to tally until payment is made, we
can be off 2 days every 5 after being late, or it will show late early
if the invoice goes out on Wednesday.
Anyone know of a formula or a way to execute what I'm trying to do?
Much thanks
Scott--
Heyna
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Heyna's Profile: www.excelforum.com/member.php...foamp;userid=8148
View this thread: www.excelforum.com/showthread...hreadid=518335Do you really need to use DAYS360? That can cause you to be off since it
assumes 12 months of exactly 30 days.

You can figure out the total number of days just by subtracting the
invoice date from the due date (and formatting as Number or General).

To exclude weekends, take a look at NETWORKDAYS() in XL Help. It's an
Analysis Toolpak Add-in function so you'll need to load the ATP
(Tools/Add-ins...).

In article gt;,
Heyna gt; wrote:

gt; I'm trying to use date formulas to show the amount of days between an
gt; invoice date and a Due Date. I'm using DAYS360 to figure out the number
gt; of days between the two dates, and I'm trying to figure in a 5 day
gt; quot;Grace periodquot; before the time shows late and the customer gets a late
gt; fee. I was using an quot;IFquot; formula for the grace period (ex: =IF(A1gt;5,
gt; true,false)) My problem is, of course, Weekends. Since this formula to
gt; figure out days late will continue to tally until payment is made, we
gt; can be off 2 days every 5 after being late, or it will show late early
gt; if the invoice goes out on Wednesday.
gt; Anyone know of a formula or a way to execute what I'm trying to do?
gt; Much thanks
gt; Scott


If your invoices always go out on weekdays your 5 days grace will be the
equivalent of 7 actual days, won't it?

...unless you want to factor in holidays, in which case I believe you'd
want NETWORKDAYs as suggested by JE McGimpsey--
daddylonglegs
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