NETWORKDAYS function comes under the DATE AND TIME FUNCTIONS category in Excel.
NETWORKDAYS FUNCTION simply returns number of working days between two dates excluding the weekends and any holiday if specified.
e.g. if we want to calculate the wages etc. we can simply put the starting date, end date and holiday dates between the specified dates. The function will return the number of NET WORKING DAYS.
PURPOSE OF NETWORKDAYS FUNCTION IN EXCEL
NETWORKDAYS return the number of working days between the two dates with the convenience of inserting holidays(dates) in between.
PREREQUISITES TO LEARN NETWORKDAYS
THERE ARE A FEW PREREQUISITES WHICH WILL ENABLE YOU TO UNDERSTAND THIS FUNCTION IN A BETTER WAY.
- Basic understanding of how to use a formula or function.
- Basic understanding of rows and columns in Excel.
- Some information about the financial terms is an advantage for the use of such formulas.
- Of course, Excel software.
The Syntax for the function is
NETWORKDAYS( START DATE , END DATE , HOLIDAYS (DATES) )
START DATE Starting date is the date of the period.
END DATE END DATE is the end date of the period.
Holidays It is an optional input. If given , we can specify the dates of holidays in the period .is an optional range of one or more dates(or the cells or range of cells containing the dates) to exclude from the working calendar and treat as holiday in addition to the weekends.
THE DATES SHOULD BE PUT USING THE DATE FUNCTION
=DATE(YYYY,MM,DD) OTHERWISE IT’LL RETURN AN ERROR.
EXAMPLE:NETWORKDAYS IN EXCEL
Let us calculate the net workdays between 1.1.2020 to 27.1.2020
WITHOUT ANY HOLIDAYS
WITH HOLIDAYS ON 22.1.2020 AND 23.1.2020
STEPS TO USE WORKDAY FUNCTION
MANUAL CHECK OF THE FUNCTION NETWORKDAYS
NUMBER OF DAYS CALCULATION
We should always be having knowledge about the working of a function. Otherwise we may be stuck in a situation where we never know whether the answer is correct or not.
These formulas are doing nothing but playing with the dates.
MS Excel is converting the date to a number first. Number is the number of days after JAN 1 1900.
After converting to number it subtracts to find out the number of days between any two dates.
The same procedure is being followed up in these formulas which comprise of DATES.
Although if we need to do this process just once, there is no need of bothering for formulas. But if we need to use this daily, we are exempted from botheration of doing this calculation daily.
The output is again a date as number. Just change the format of the cell to DATE.
OTHER WAYS TO REACH THIS ARTICLE
CALCULATE NET WORKING DAYS,CALCULATE WORKING DAYS BETWEEN TWO DATES, HOW TO CALCULATE WORKING DAYS