It’s a Fiscal Thing


In past blog articles, I’ve talked about the need for a date table, not just for BI/PowerPivot analysis, but for any application. You might be hard pressed to come up with many applications you have written or have used in your organizations that do not include some aspect of time as one of the dimensions by which you collect data and/or report on it. Therefore, building a Date table once that you can use for many different applications can save you a great deal of time when trying to determine how to group your data for different reporting period or to display different date labels along one of your dimensions.

One of the easiest ways to build a date table that you can use anywhere is to begin with Excel. It is a simple matter to create a column called DateKey and enter the first two dates of a large general purpose date range as shown in the following figure.

Then to create any size table, simply select the first two cells and drag the bottom right corner down to any number of rows you want. Given Excel’s limit of a million rows, this should cover you for most applications.

Once you have the first column, you can add columns for other ways of displaying date information. The following table shows a few of the more common expressions I have used to create additional columns.

<insert table here>

If you use a standard calendar, January 1 through December 31, the functions provided work well to calculate the names of months, days of the week, quarters, years, etc. However, if your organization uses a fiscal calendar, some of these calculations are not as easy. For example, suppose your organization uses a fiscal year that begins October 1 and goes through September 30th. The calculation for month number is not as simple as using the MONTH() function. Nor is the calculation of year simple either because the fiscal year for 2015 may in that case go from October 1, 2014 through September 30, 2015. So I thought you might like to see a few functions that could help you calculate fiscal columns in your data table.

Let’s start with the calculation of the fiscal year. Using the example date range above, how can I calculated the fiscal year from any given date. If I were to add 3 months to any date and then calculate the year using the YEAR() function, I would get the fiscal year. Why three months? Because there are three months in the prior calendar year. If my fiscal year started July 1, 2014 and went to June 30, 2015, I would add 6 months to the date before calculating the fiscal year using the YEAR() function. The following figure shows the column expression I need to create a CompanyFiscalYear column.

Calculating the year was not that difficult. However, calculating the month number of the fiscal year is a bit more complex. Why do I need a fiscal month number? Remember how I used the month number column as the sort by column for the month names so that the months appear in the correct order. I again have a similar problem when I am dealing with fiscal calendars. In the above example fiscal year beginning October 1, 2014, the order of the month names must be:

  • October
  • November
  • December
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September

I can calculate the fiscal month number using the expression shown in the following figure. Note that it is a bit more complex than the expression to calculate the fiscal year. Where I’m using the number ‘9’, I’m really using ’12 – 3′ in which ’12’ is the number of months in the year and ‘3’ is the number of fiscal months in the first calendar year which in this case is October, November, and December. Therefore, if my fiscal calendar started in July, I would use ’12-6′ or ‘6’. A similar argument would explain why I need a ‘3’ at the end of argument for months in the second calendar year to increase the fiscal month number of these months appropriately. Again I would use a ‘6’ for a fiscal year starting in July because there are 6 months in the first calendar year that are part of the current fiscal year.

The final column I’m going to show today is the calculation of the fiscal quarter. In my October-September scenario, the first quarter of the fiscal year includes the months October, November, and December. Since I already have calculated fiscal month numbers, I can simplify my calculation of the quarter by simply dividing the fiscal month number by ‘3’ and rounding the result up to the next whole number if necessary using the ROUNDUP() function. Thus the following figure shows an easy calculation of the fiscal quarter.

That’s all for this time. I hope this helps you create useful date tables with not just traditional calendar dates and calculated fields, but also fiscal calendar fields that you can use in your pivot tables and reports.

C’ya next time.

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