date calculation

[Kieran Moloney]

I need an excel formula to work out the following;

The payment date is the first business day of each month, the calculation
date is the fifth business day immediately preceding a payment date.

When I enter the payment date I want the formula to calculate the
calculation date ( Need to exclude weekends)

thanks
Kieran

 

[Bob Phillips]

=WORKDAY(A1,-5)

this is from the Analysis Toolpak, so make sure that is installed.