Excel Fiscal Year CalculationsLearn how to calculate the fiscal year and fiscal month for a specific date in Microsoft Excel, using formulas that are based on the Fiscal Year starting date or starting month. Also, follow this link to see my tutorial on how to show fiscal year results in a pivot table Author: Debra Dalgleish 
Fiscal Year FormulaTo get the fiscal year for the given date in cell C6, enter the following formula in cell C8:
The above formula result shows the fiscal year for the date. There is an explanation below, for how the formula works. Number FormatThe result in cell C8 might change to a Date format, after you enter the formula, or if you recalculate the worksheet. To fix that, follow these steps:

How Fiscal Year Formula WorksTo figure out the date's fiscal year without an Excel formula, this is the logic we would use:
To calculate the fiscal year witn an Excel formula, we need 3 pieces of information:
1) Get the YearFirst, the formula calculates the year for the date entered in cell C6, using the YEAR function.
2) Get the MonthNext, the MONTH function gets the month number for the date in cell C6:
3) Compare Month NumbersAfter that, the formula compares the month number for cell C6, to the fiscal year starting month, that was entered in cell C4
Is that comparison TRUE or FALSE 
IF Formula for TRUE or FALSEThat month comparison is inside an Excel IF formula, which uses the TRUE or FALSE result of that test, to add 1 or zero to the year number.
How the IF Function WorksIF is one of the Logical functions in Microsoft Excel, and there are 3 parts (arguments) to the IF function syntax:

IF Function VideoThis short video shows the steps for setting up a simple IF formula. Note: The written steps for the Fiscal Year continue below the video. 
Excel IF Function for Fiscal YearHere are those 3 arguments, used in our fiscal year IF formula:
And here is the full fiscal year formula that was entered in C8:
Fiscal Year Result CheckUsing the date August 1, 2022 as an example, for fiscal year starting in July, here is the arithmetic for the calculation:
Video: CHOOSE Function for Fiscal CalculationThe formulas in the following sections use the CHOOSE function, to select the applicable fiscal month or fiscal quarter. To see how the CHOOSE function works, watch this short video tutorial. It shows a few examples, starting with a formula for fiscal quarter. 
Calculate Fiscal Month  CHOOSE FunctionTo calculate the fiscal month, you can use the CHOOSE Function. The CHOOSE function returns a value from a list, based on an index number. Based on the month number, the fiscal month number can be returned from a list of numbers. In this example, the fiscal year starts in July, so January is fiscal month 7. For the months of the year, from January to December, the fiscal months are in this order: 7,8,9,10,11,12,1,2,3,4,5,6 Those month numbers can be typed into the CHOOSE formula, or you can refer to the cells that contain the numbers. There are three different Excel formulas in the following sections, to show how this works. 
Option 1  List the NumbersTo calculate the Fiscal Month with the CHOOSE function, the date is entered in cell C6. The following formula is entered in cell C11: =CHOOSE(MONTH(C6),7,8,9,10,11,12,1,2,3,4,5,6) If the date in cell C6 is March 22, 2015, the MONTH function will return 3 as the month number. The formula returns the 3rd number from the list of fiscal months  9 7,8,9,10,11,12,1,2,3,4,5,6 
Option 2  Link to CellsTo calculate the Fiscal Month with the CHOOSE function, the date is entered in cell C6. Fiscal months are entered in the reference table, in cells G6:R6 The following formula is entered in cell K11: =CHOOSE(MONTH(C6),G6,H6,I6,J6,K6,L6,M6,N6,O6,P6,Q6,R6) If the date in cell C6 is March 22, 2015, the MONTH function will return 3 as the month number. The formula returns value from the 3rd reference in the list  cell I6 G6,H6,I6,J6,K6,L6,M6,N6,O6,P6,Q6,R6 That cell contains the value 9 
Calculate Fiscal Quarter  CHOOSE FunctionTo calculate the fiscal quarter, you can use the CHOOSE function. The CHOOSE function returns a value from a list, based on an index number. Based on the month number, the fiscal quarter number can be returned from a list of numbers. In the example shown below, the fiscal year starts in April, so January is fiscal quarter 4. For the months from January to December, the fiscal quarters are in this order: 4,4,4,1,1,1,2,2,2,3,3,3
Those quarter numbers can be typed into the CHOOSE formula, to calculate the fiscal quarter for a specific date. 
Use the CHOOSE FunctionTo calculate the Fiscal quarter with the CHOOSE function, the date is entered in cell C6. The following formula is entered in cell C11: =CHOOSE(MONTH(C6),4,4,4,1,1,1,2,2,2,3,3,3) If the date in cell C6 is March 22, 2015, the MONTH function will return 3 as the month number. The formula returns the 3rd number from the list of fiscal months  4 4,4,4,1,1,1,2,2,2,3,3,3 
Download the Sample FileClick here to download the Fiscal Year sample file. It is zipped, and in xlsx format, and does not contain any macros. Related Tutorials 
Last updated: February 17, 2024 2:05 PM