# How to use the COUPDAYBS Function in Excel

COUPDAYBS function returns the days (number) from the start of a coupon period to settlement date. The formula takes input arguments which are explained as shown below.

settlement date : security settlement date after the issue date when the security is traded to the buyer.

maturity date : first period end date

Frequency : number of payments per year (annual = 1, semi annual = 2, quarterly = 4)

[basis] - [optional] Day count basis. Default is 0 and for more details, watch the below table.

 Basis Day count basis 0 US (NASD) 30 / 360 1 actual / actual 2 actual / 360 3 actual / 365 4 European 30 / 360

The COUPDAYBS function returns days from the beginning of the coupon period to the settlement date.

Syntax:

 =COUPDAYS(settlement, maturity, frequency, [basis])

Example:

All of these might be confusing to understand. So, let's test this formula via running it on the example shown below. Here we will perform the COUPDAYBS function over values and significance with the numbers.

Use the formula:

 = COUPDAYBS( A2 ,A3 ,A4 ,A5 )

Explanation:

A2 : settlement date in A2 cell

A3 : maturity date in A3 cell

A4 : Frequency in A4 cell

A5 : [basis] value in A5 cell

Here all the arguments to the function are given as cell references. Now press Enter to get the days.

The function returns 61 as the number of days from the date when the security is traded to the buyer. Usually problems occur when the date used for settlement date and Maturity date is not in valid format.

Use the DATE function with COUPDAYBS function to give a date argument.

Use the formula:

 = COUPDAYBS( DATE ( 2019 , 3 , 1 ) , DATE ( 2025 , 12 , 31 ) , A4 , A5 )

As you can see COUPDAYBS function when used with the DATE function in a formula returns the same result.

Here are some observational notes using the COUPDAYBS function shown below.

Note:

1. Excel stores dates as serial numbers and is used in calculation by the function. So it’s recommended to use dates as cell reference instead of giving direct argument to the function.
2. settlement date, Maturity date & basis are truncated to integers.
3. The function returns the #VALUE! Error if settlement date and Maturity date is not a valid date format.
4. The function returns the #NUM! Error if:
1. frequency can take integer values and cannot be less than 1.
2. If basis argument is either < 0 or  > 4.

Hope this article about How to use the COUPDAYBS function in Excel is explanatory. Find more articles on financial formulas here. If you liked our blogs, share it with your fristarts on Facebook. And also you can follow us on Twitter and Facebook. We would love to hear from you, do let us know how we can improve, complement or innovate our work and make it better for you. Write to us at info@exceltip.com.

Related Articles

How to use the MIRR function in excel : returns the Modified interest rate of return for the financial data having Investment, finance rate & reinvestment_rate using the MIRR function in Excel.

How to use the XIRR function in excel : returns the Interest rate of return for irregular interval using the XIRR function in Excel

Excel PV vs FV function : find Present Value using PV function and future value using FV function in Excel.

How to use the RECEIVED function in excel : calculates the amount which is received at maturity for a bond with an initial investment (security) and a discount rate, there are no periodic interest payments using the RECEIVED function in excel.

How to use the NPER function in excel : NPER function is used to calculate periods on loan payments in Excel.

How to use the PRICE function in excel : returns the price per \$100 face value of a security that pays periodic interest using the PRICEfunction in Excel.

Popular Articles:

50 Excel Shortcuts to Increase Your Productivity | Get faster at your task. These 50 shortcuts will make you work ODD faster on Excel.

The VLOOKUP Function in Excel | This is one of the most used and popular functions of excel that is used to lookup value from different ranges and sheets.

COUNTIF in Excel 2016 | Count values with conditions using this amazing function. You don't need to filter your data to count specific values. Countif function is essential to prepare your dashboard.

How to Use SUMIF Function in Excel | This is another dashboard essential function. This helps you sum up values on specific conditions.

Terms and Conditions of use

The applications/code on this site are distributed as is and without warranties or liability. In no event shall the owner of the copyrights, or the authors of the applications/code be liable for any loss of profit, any problems or any damage resulting from the use or evaluation of the applications/code.