Function note

An empty cell as a first date is serial 0, but a logical in that cell is #VALUE!

FUNC.NETWORKDAYS · FUNC.NETWORKDAYS.INTL · FUNC.TBILLEQ · FUNC.TBILLPRICE · FUNC.TBILLYIELD · FUNC.WORKDAY · FUNC.WORKDAY.INTL · FUNC.YEARFRAC

FN-WORKDAY-001: An empty cell as a first date is serial 0, but a logical in that cell is #VALUE!

Quirk · measured · recorded 2026-11-04

A reference to an empty cell as the first date of these functions reads as serial 0 and gives a normal answer: NETWORKDAYS(B1,5) is 4 and WORKDAY(B1,2) is 3. YEARFRAC(B1,5,0) is 5/360. TRUE in the same cell gives #VALUE!, as a direct TRUE does, so a blank is not treated as the logical FALSE either.

Call and input routeInputsExcelCorrect valueRecorded in
=NETWORKDAYS(B1,5)
cell-value2		B1: (empty cell)4
0x4010000000000000		—Excel 16.0.20527.20088 Current Channel, Windows 64-bit (NT 10.0.26200), x86-64, AMD Ryzen 7 4800H, en-ZA
=NETWORKDAYS(B1,5)
cell-value2		B1: TRUE#VALUE!—Excel 16.0.20527.20088 Current Channel, Windows 64-bit (NT 10.0.26200), x86-64, AMD Ryzen 7 4800H, en-ZA
=WORKDAY(B1,2)
cell-value2		B1: (empty cell)3
0x4008000000000000		—Excel 16.0.20527.20088 Current Channel, Windows 64-bit (NT 10.0.26200), x86-64, AMD Ryzen 7 4800H, en-ZA
=WORKDAY(B1,2)
cell-value2		B1: TRUE#VALUE!—Excel 16.0.20527.20088 Current Channel, Windows 64-bit (NT 10.0.26200), x86-64, AMD Ryzen 7 4800H, en-ZA
=NETWORKDAYS.INTL(B1,5,1)
cell-value2		B1: (empty cell)4
0x4010000000000000		—Excel 16.0.20527.20088 Current Channel, Windows 64-bit (NT 10.0.26200), x86-64, AMD Ryzen 7 4800H, en-ZA
=WORKDAY.INTL(B1,2,1)
cell-value2		B1: (empty cell)3
0x4008000000000000		—Excel 16.0.20527.20088 Current Channel, Windows 64-bit (NT 10.0.26200), x86-64, AMD Ryzen 7 4800H, en-ZA
=YEARFRAC(B1,5,0)
cell-value2		B1: (empty cell)0.013888888888888888
0x3f8c71c71c71c71c		—Excel 16.0.20527.20088 Current Channel, Windows 64-bit (NT 10.0.26200), x86-64, AMD Ryzen 7 4800H, en-ZA
=TBILLEQ(B1,5,0.1)
cell-value2		B1: (empty cell)0.10152990264255911
0x3fb9fddd1b6a757f		—Excel 16.0.20527.20088 Current Channel, Windows 64-bit (NT 10.0.26200), x86-64, AMD Ryzen 7 4800H, en-ZA

Basis: 8 recorded readings with an empty B1, one per function, each paired with a reading with TRUE in B1.

Open: An argument left empty in the call was not read here for YEARFRAC and the T-bill functions.

Evidence and capture sources

Machine-readable note records