Welcome to Excel Jet Consult blog post. In this tutorial, we want to learn how to calculate Fiscal Quarter. Let’s get started.
To learn how to create Standard Quarter using different methods, click here
Fiscal Quarter
In this example, the Fiscal Quarter starts from July of the current year and ends in June of the next year. This invariably implies that:
July, August and September represent Fiscal Quarter 1
October, November and December represent Fiscal Quarter 2
January, February and March represent Fiscal Quarter 3
April, May and June represent Fiscal Quarter 4
Nested IF Statement
To achieve the above fiscal quarter, we are going to deploy nested IF statement
To calculate the Fiscal Quarter: In the Calculations group of the Home tab, click on New Column
In the formula bar, execute:
Fiscal Quarter = IF(‘Date'[Quarter]=3,1,IF(‘Date'[Quarter]=4,2,IF(‘Date'[Quarter]=1,3,4)))
The first IF implies that if Date[Quarter] equals to 3, then deliver 1 if true
The second if statement tells us that if Date[Quarter] equals to 4, then return 2 if true e.t.c
From the above caption, we can see that July is the start of the Fiscal Quarter 1 and June is the last month of the Fiscal Quarter 4