Is it possible to change the cell format to display quarter and year q yyyy instead of dd-mm-yyyy?
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No – quarters are not a customisable format
The closest I think you could get would be to use a formula which has two potential limitations
=INDEX({"Mar","Jun","Sep","Dec"},ROUNDUP(MONTH(A1)/3,0))&TEXT(A1," yyyy")will return the quarter (based on a calendar year) and year of a date in A1, i.e. for today’s date
Dec 2011