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Convert calendar year to fiscal year

  Asked By: Lourdes    Date: Feb 28    Category: MS Office    Views: 4131

I am trying to convert a budget from a calendar year to a fiscal year.For
example lets say
I have a contract starting 10/1/2005 and expiring 8/31/2007 for an amount of
$36,000. What I will like to do is create a monthly budget for the 12 months of
the current fiscal year which starts 7/1/2004 and ends 6/30/2005.
How should I approach this?



3 Answers Found

Answer #1    Answered By: Jake Williams     Answered On: Feb 28

Depending on what accuracy you want the answer to be in, you can
calculate the contract time in either days or months. Let's start with

'Date format = mm/dd/yyyy
'Excel will use Julian date format for calculations

Contract_End_Time = 8/31/2007
Contract_Start_Time = 10/01/2005
Contract_Value_Total = 36000

Contract_Length = Contract_End_Time - Contract_Start_Time

Contract_Value_per_Day = Contract_Value_Total / Contract_Length

Monthly_Budget = Contract_Value_per_Day * 30 '(Here you may have to get
elegant if required, to work on different days in a month)

If you want to work on a monthly basis (my preference), change the last
line of logic to the following:

Contract_Value_per_Month = Contract_Value_Total / Contract_Length *
365.25 / 12 '(365 days per year, adjusted to include leap years, and 12
months in a year)

To see whether a month in your budget year  falls within the contract
period, use an IF statement as follows:

IF(Evaluated_Month > Contract_Start_Time) AND IF(Evaluated_Month <
Do all the maths

Answer #2    Answered By: Muriel Dunn     Answered On: Feb 28

Vermeulen is quite Dutch. Are you in the NLs?

Answer #3    Answered By: Trae Thompson     Answered On: Feb 28

My forefathers were from the NL's. Was born in South Africa, and
currently residing in Perth, Australia.

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