# Excel COUPDAYS Function in Office 365 – With Examples!! Andrews Originally published at geekexcel.com on ・3 min read

## Excel COUPDAYS Function:

We will illustrate the definition, fundamental syntax, and usage of the Excel COUPDAYS Function in Office 365. Get an official version of Microsoft Excel from the following link: https://www.microsoft.com/en-in/microsoft-365/excel.

## COUPDAYS Function – Explanation:

• The Excel COUPDAYS function calculates the number of days in a coupon period that contains the settlement date.

## Fundamental Syntax of COUPDAYS Function:

The fundamental syntax of Excel COUPDAYS function is,

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

### Important Note:

• Dates must be entered with the use of the DATE function. It can also be a result of other functions or formulas. If dates are entered as text, issues can occur.
• For example, use DATE(2020,7,13) for the 13th of July 2020.

### Argument Explanation:

• Settlement (Required): It is the settlement date of the security.
• **Maturity (Required): **It is the maturity date of the security. The maturity date is the date when the security expires.
• Frequency (Required): Number of coupon payments per year.
• Annual – 1
• Semiannual – 2
• Quarterly – 4
• Basis (Optional): It specifies the day count basis to use.

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

### Important Note:

• #NUM! Error – Occurs if either:
• The supplied ‘settlement’ date is greater than or equal to the ‘maturity’ date;
• The ‘frequency’ argument is not equal to 1, 2, or 4;
• The ‘basis’ argument is not equal to 0, 1, 2, 3, or 4.
• #VALUE! Error – Occurs if either:
• The supplied ‘settlement’ or ‘maturity’ dates are not valid Excel dates;
• Any of the supplied values are non-numeric characters.

## Practical Examples:

Refer to the below examples of COUPDAYS function so you can explore how to use it in Microsoft Excel.

### Example 1:

• We have entered the input values of settlement, maturity, frequency, and basis into the cell range B5: E7.
• Here, in this example, we have selected the input cells B5, C5, D5, and E5 to calculate the number of days.
• Refer to the below syntax of the COUPDAYS function to return the output.
``````=COUPDAYS(B5,C5,D5,E5)
``````

• You need to click Enter to execute the formula.

• Now, you can see the result in the G5 cell.
• You can repeat the same for other input values.
• In another way, you can just drag the cell G5 to G7 so it automatically returns the respective output.

### Example 2:

• The #NUM! Error appears if the supplied ‘settlement’ date is greater than or equal to the ‘maturity’ date or the ‘frequency’ argument is not equal to 1, 2, or 4 or the ‘basis’ argument is not equal to 0, 1, 2, 3, or 4.

### Example 3:

• The function returns the #VALUE! Error if any one of the supplied values is a non-numeric character. 