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If a company's fiscal year aligns with the calendar year, classifying dates into quarters and years for reporting is straightforward. However, if it differs, formulas are needed to categorize dates into fiscal periods. First, to classify dates into calendar periods, the ROUNDUP function helps extract the quarter by dividing the month by three and rounding up. This returns the correct quarter for each month. The YEAR function can be used to easily extract the year from the date. While formulas are useful, pivot tables can simplify the process further, as they allow users to group data without needing to apply these formulas.