What is the OPENINGBALANCEYEAR Function?
The OPENINGBALANCEYEAR function is a DAX function that calculates the opening balance for a specific year. It takes two arguments: the first argument is the expression that represents the value to be aggregated, and the second argument is the date column that contains the dates to be used for aggregation.
The syntax for the OPENINGBALANCEYEAR function is as follows:
How to Use the OPENINGBALANCEYEAR Function
To use the OPENINGBALANCEYEAR function, you need to have a dataset that contains a date column and a column that represents the values to be aggregated. Let’s use an example to illustrate how to use the OPENINGBALANCEYEAR function.
Suppose you have a sales dataset that contains the following columns:
To calculate the opening balance for each product in 2019, you can use the following DAX formula:
Opening Balance 2019 = OPENINGBALANCEYEAR(SUM(Sales[Sales]), 'Sales'[Date])
In this formula, we are using the SUM function to calculate the total sales for each product, and we are using the ‘Sales'[Date] column as the date column for aggregation.
The resulting table will show the opening balance for each product in 2019.
Additional Tips and Tricks
Here are some additional tips and tricks that can help you use the OPENINGBALANCEYEAR function more effectively:
1. Use the RIGHT function to extract the year from a date column
If your date column contains dates in the format ‘dd/mm/yyyy’, you can use the RIGHT function to extract the year from the date column. Here is an example:
Year = RIGHT('Sales'[Date], 4)
This formula will extract the year from the ‘Sales'[Date] column, and you can use this column as the date column for aggregation.
2. Use the TOTALYTD function to calculate the year-to-date total
If you want to calculate the year-to-date total instead of the opening balance, you can use the TOTALYTD function. Here is an example:
YTD Sales = TOTALYTD(SUM(Sales[Sales]), 'Sales'[Date])
This formula will calculate the year-to-date total for the sales column, using the ‘Sales'[Date] column as the date column for aggregation.
3. Use the SAMEPERIODLASTYEAR function to compare year-over-year performance
If you want to compare the current year’s performance with the previous year’s performance, you can use the SAMEPERIODLASTYEAR function. Here is an example:
Sales Last Year = CALCULATE(SUM(Sales[Sales]), SAMEPERIODLASTYEAR('Sales'[Date]))
This formula will calculate the total sales for the same period last year, using the ‘Sales'[Date] column as the date column for aggregation.
The OPENINGBALANCEYEAR function is a powerful DAX function that enables users to calculate the opening balance for a specific year. By using this function, users can gain valuable insights into their data and make informed business decisions. With the additional tips and tricks provided in this article, you can take your analysis to the next level and unlock the full potential of the Power BI platform.