Salesforce Formula – Find the First day of next month based on a date

The following Salesforce formula returns a date value, the first day of the next month based on the current date. You can replace TODAY() with any date field.

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IF(
MONTH(  TODAY() ) = 12,
DATE( YEAR( TODAY() )+1, 1, 1 ),
DATE( YEAR( TODAY() ), MONTH ( TODAY() ) + 1, 1 )
)

If you have a date/time field, then you can convert date/time to date using DATEVALUE(expression) function as mentioned in the following formula.

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IF(
MONTH( DATEVALUE(CreatedDate) ) = 12,
DATE( YEAR( DATEVALUE(CreatedDate) )+1, 1, 1 ),
DATE( YEAR( DATEVALUE(CreatedDate) ), MONTH ( DATEVALUE(CreatedDate) ) + 1, 1 )
)

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