If you activate the Analysis ToolPak add-in (Section 7.2.4), you'll find a number of additional date functions. Some of these, like WORKDAY( ) and NETWORKDAYS( ), are designed to distinguish between business days and weekends in their calculations, and they come in extremely handy if you're a business type. Others, like YEARFRAC( ) and EDATE( ), are useful for a wider range of date-related calculations.
The EDATE( ) function (short for Elapsed Date) calculates a future date by adding a certain number of months to a date you supply. You specify two parameters: the starting date, and the number of months you want to move forward (use a negative number to move one or more months backward).
Here's an example that calculates a date one month from today:
The EDATE( ) function would be more useful if it provided a similar ability to advance a date by a set number of days or years. If you need to do that, you'll need to resort to using the DAY( ), MONTH( ), and YEAR( ) functions, in conjunction with the DATE( ) function, as described earlier.
The YEARFRAC( ) function (short for Year Fraction) lets you take a range of days between two dates in the same year and determine what percentage this represents out of the whole year. For example, if you pay for a monthly fitness club membership and cancel it after a few weeks, this function might be ...