How to Use the TODAY Function in Excel

The TODAY function returns the current date in Excel and automatically updates each day the file is opened. In this lesson, you’ll learn how to use it to calculate days since last service, estimate equipment age, flag systems that need maintenance, and check whether a unit is still under warranty.

Download the Excel file used in this tutorial:

The TODAY Function

1. Insert the TODAY function to return the current date

  • Enter TODAY in a cell to display the current date in Excel
  • This gives you a live date that updates automatically whenever the workbook recalculates or is opened again
  • In the video, this is the starting point for all date-based calculations

2. Add or subtract days from today

  • Use the TODAY function as a starting date and then add or subtract days as needed
  • This lets you project forward or look backward from the current date
  • In the video, this is shown as a quick way to move from today’s date to a future date

3. Calculate days since the last service date

  • Insert a new column for Days Since Last Service
  • Use TODAY and subtract the last service date from it
  • Format the result as a number so it displays as total days
  • This gives you an instantly updating service-age column for every record

4. Convert service age into years or months

  • Take the date difference calculated with TODAY
  • Divide it by the number of days you want to use for the time period
  • In the video, this is shown as a way to estimate years since last service
  • This makes it easier to group customers into longer service intervals for filtering and follow-up

5. Calculate equipment age from the install date

  • Create a new column for equipment age
  • Use TODAY with the equipment install date to calculate how old each unit is
  • In the video, this is shown in years so you can quickly identify older systems
  • This helps separate service timing from actual equipment age

6. Use IF with TODAY to flag systems that need service

  • Combine TODAY with IF
  • Compare the number of days since last service against your service threshold
  • In the video, the example uses an annual service cycle
  • Return a label such as “Yes” or “No” so you can quickly filter for systems that need attention

7. Use IF with TODAY to track warranty status

  • Add a warranty-years column to the dataset
  • Use TODAY with the install date to compare elapsed time against the total warranty period
  • Combine this with IF so Excel returns a status such as expired or under warranty
  • This creates a live warranty tracker that updates automatically over time

8. Filter the results to create follow-up lists

  • Once the TODAY-based columns are in place, filter your table by service age, equipment age, service required, or warranty status
  • In the video, this is shown as a way to identify customers for follow-up calls, maintenance outreach, or warranty review
  • You can also filter by different thresholds depending on the type of system or service schedule

9. Let the workbook update automatically each day

  • One of the biggest advantages of TODAY is that it refreshes automatically
  • Every time the file is opened, service intervals, equipment age, and warranty status move forward by one more day
  • That means your reporting stays current without manually changing dates

10. Use TODAY to simplify recurring date-based analysis

  • In the video, the function is positioned as a faster alternative to manually counting backward or forward through dates
  • Instead of figuring out date ranges by hand, you can create helper columns with TODAY and filter the results instantly

This is especially useful when working with customer service schedules, maintenance cycles, or expiration tracking

The TODAY Function in Excel

Q1. What does the TODAY function do in Excel?
The TODAY function returns the current date based on your system clock. It updates automatically, which makes it useful for any calculation that depends on the current day.

Q2. Why is the TODAY function useful for business analysis?
It helps turn date fields into actionable information. You can use it to calculate how many days have passed since a service visit, how old equipment is, when a warranty expires, or which customers are due for follow-up.

Q3. How is the TODAY function used in this lesson?
In this video, the TODAY function is used to calculate days since last service, estimate equipment age in years, identify whether a unit requires service, and check if equipment is still under warranty.

Q4. Does the TODAY function update automatically?
Yes. Every time you open the workbook, Excel recalculates the TODAY function based on the current date. That means your date-based metrics stay current without needing manual updates.

Q5. Can I use the TODAY function with IF statements?
Yes. The TODAY function is often combined with IF statements to create alerts such as Service Required, Expired, or Under Warranty, based on how much time has passed since a specific date.

Q6. What kinds of calculations can I build with TODAY?
You can subtract past dates to measure elapsed time, add days to estimate future dates, and combine it with other formulas to track maintenance schedules, warranty periods, renewal timing, and customer follow-up opportunities.

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Databoards

Analysis & Development