Forum Discussion

Copper Contributor

Sep 01, 2021

Problems with creating a Pro rate formula

Let's say I am tracking an annual operation reserves in loan documents, but the contract will allow me to pro rate from the close of escrow to the end of the fiscal year ( FY = 1/1 - 12/31) for the f...

excel

office 365

tauqeeracma

Steel Contributor

Sep 02, 2021

HIdomdel

Mostly, YEARFRAC() function is used for the purpose of pro-rated calculations.

The function of YEARFRAC() calculates the fraction of the year represented by the number of whole days between two dates (the start_date and the end_date).

I hope this function will be helpful in your case as well.

Please refer the attached sample calculation that tries to address your requirements.

Please let me know if it works for you.

Thanks

Tauqeer