RECEIVED Function (LibreOffice Calc)

=RECEIVED(Settlement; Maturity; Investment; Discount [; Basis])

Both LibreOffice Help [S2] and OpenDocument 1.4 OpenFormula §6.12.43 [S4] document four required parameters and an optional fifth Basis, defaulting to 0. There is no optional discount or investment parameter. The documented English Calc and OpenFormula names are both RECEIVED; function argument separators in the illustrated English Calc setup are semicolons. Decimal separators and function names may differ with locale.

Day-count basis reference

The official sources [S2, S4] define the modes and the default. Never infer that an omitted Basis means Actual/365. Likewise, do not treat the basis number as a day count or append it to a rate; basis specifies an entire calculation convention, including month-end treatment for 0 and 4.

OpenFormula specifies the relationship [S4]:

YearFraction = YEARFRAC(Settlement; Maturity; Basis)
Maturity proceeds = Investment / (1 − Discount × YearFraction)
Earned currency amount = Maturity proceeds − Investment

The percentage Discount × YearFraction is taken from the redemption amount. That is why a discount quote of 6% for a quarter does not produce a 1.5% return on cost: receiving approximately 1,015.23 on a 1,000 investment means the gain on invested cash is approximately 1.52284264% for the term, slightly larger than 1.5%.

The denominator 1 − Discount × YearFraction is crucial. To represent positive economic proceeds, require Investment > 0, Discount > 0, Maturity > Settlement and Discount × YEARFRAC(...) < 1. OpenFormula explicitly states positive investment and discount and ordering [S4]; the extra denominator guard is financial-model protection from the stated equation, not an additional universally enforced Calc input rule. Native testing actually found a negative numerical payout when the denominator became negative [N1].

Enter the values below into any blank Calc sheet. Format dates as Date and maturity results as Currency if useful.

Expected: B8 = 1015.22842639594, B9 = 0.25, B10 = 1015.22842639594, B11 = 15.22842639594, and B12 = 0.0609137055837563 (approximately 6.09137056%). B12 intentionally differs from the 6% discount quote: it measures the gain relative to invested principal. This comparison follows from the two official formulas; the exact nested INTRATE/RECEIVED relationship and linked cell results were subsequently executed in Calc as supplemental worksheet checks [S3, S4, I1, N1, N2].

YEARFRAC in B9 is a native spreadsheet calculation, not an independent external verification. The independent expected payout for the worked case used 90 calendar days and an explicit 360-day denominator in Python Decimal [I1].

The current LibreOffice RECEIVED Help gives [S2]:

=RECEIVED(DATE(1999;2;15);DATE(1999;5;15);1000;0.0575;2)

Result: 1014.42026586264 in the tested Calc 25.2.3.2 build, or 1,014.420266 at six decimals, matching the documented Help example and the independent Decimal result [S2, I1, N1]. There are 89 actual days between February 15 and May 15 in 1999; YEARFRAC(...;2) = 89/360. The result is 1000 / (1 − 0.0575 × 89/360). This test distinguishes genuine day counting from simply treating every three-month span as precisely 90 days.

Use the DATE(...) version of the example instead of copying quoted date strings such as "1999-02-15"; it avoids country-specific parsing and is straightforward to audit in a working financial model.

For 1,000 invested from January 15 to April 15, 2026, at a quoted annual 6% discount, the independently derived basis differences were evaluated natively [I1, N1]:

These are simple mid-month dates. For end-of-month, February/leap days or maturity across year boundaries, day-count differences can be more complicated. Do not assume Actual/Actual uses exactly 365 in every calendar year; see the applicable documentation [S2, S4]. The displayed shorter values are illustrative rounding of native/independent results; underlying results and tolerances are in the test evidence.

Suppose a dealer quotes a 90-day discount instrument at 6% discount and another security’s annualized simple interest rate is quoted at 6% on invested principal. Those are different definitions. RECEIVED converts the discount quote into maturity proceeds, and INTRATE can convert those proceeds into an annualized investment-based rate, if and only if both use the same dates and day-count basis:

=INTRATE(B2;B3;B4;RECEIVED(B2;B3;B4;B5;B6);B6)

Expected for the worked cells: about 6.09137056%. Algebraically, for a term fraction t, the rate on cost is d/(1−d*t), not simply d. This conversion is especially helpful when comparing a discount-quoted instrument to a simple-yield-quoted instrument. It does not evaluate credit quality, commissions, settlement risk, liquidity, market price spreads or taxation [I1].

Quote required cash outlay. If you know the promised redemption amount R instead of the money invested, rearrange the equation:

=R*(1-Discount*YEARFRAC(Settlement;Maturity;Basis))

For example, with R=1000, the 90-day 6% discount implies an investment of 985 (provided the discount factor remains positive). RECEIVED then returns 1000 for a 985 investment. This is algebra derived from the official OpenFormula expression [S4, I1], not a separate additional native Calc test of every possible input.

Financial documentation requires a positive Investment and positive Discount, and settlement before maturity [S4]. Beyond those domain checks, a valid model needs the discount factor 1 − Discount × YearFraction to remain strictly positive. Do not rely on RECEIVED to flag all financially invalid denominator cases. In native Calc 25.2.3.2, a long-dated high-discount test returned a negative payout instead of an input error [N1].

With B2:B6 set up as above, this guarded Calc formula either returns a meaningful positive amount or #N/A:

=IF(AND(B3>B2;B4>0;B5>0;B6>=0;B6<=4;B6=INT(B6);B5*YEARFRAC(B2;B3;B6)<1);RECEIVED(B2;B3;B4;B5;B6);NA())

Why check B6=INT(B6)? The official basis list contains integer values only, but the tested Calc build accepted 2.5 as a diagnostic input and returned a number consistent with integer coercion [S2, N1]. Relying on undocumented coercion risks different results after import or an upgrade. Validate actual values instead of suppressing warnings.

For data-entry sheets, use Data > Validity to enforce numeric positive Investment and Discount, date ordering, and an integer basis from 0–4. Put separate visible warning cells next to the instrument record so erroneous terms are corrected at the source. A simple IFERROR(RECEIVED(...);"") may hide a bad quotation; it does not fix it.

All listed native observations are for 25.2.3.2 on Linux. They are not claims about LibreOffice 26.8 or other platforms. The positive-result denominator guard is an editorial safety recommendation from the formula even though native function checking did not consistently enforce it [S4, N1]. The guarded formula returned #N/A in an additional native test when the denominator was negative; the unguarded result was -972.972972972973 [N2].

• LibreOffice Calc: RECEIVED is listed in the current official Financial Functions Help [S2]. This guide evaluated formulas with LibreOffice 25.2.3.2, Linux; Calc 26.8 or Windows/macOS numerical edge behavior was not executed.
• OpenDocument/OpenFormula: OpenDocument v1.4 specifies the named function RECEIVED in §6.12.43, along with the default Basis=0, parameter constraints and discount formula [S4]. The OpenFormula function name is not an alternate page title.
• Excel, Sheets, other applications: An identical-looking syntax is not independent compatibility evidence. No native execution was performed in those applications. Review date conventions, return scaling, error behavior and the imported workbook’s recalculation before using values for an investment decision.
• Locale and saved files: The reviewed examples use English names, semicolon separators and period decimals. The native test workbook was imported from OOXML and evaluated with Calc before its ODS/CSV results were read; imported workbook cache values alone were not treated as native evidence [N1].

Related functions include INTRATE, YEARFRAC, DISC, PRICEDISC, YIELDDISC. The companion INTRATE converts purchase and redemption amounts to a simple investment-based annualized yield. YEARFRAC supplies term fraction for the chosen basis. DISC, PRICEDISC and YIELDDISC address other discounted-security relationships; none is a synonym for RECEIVED.