Field which calculates the Quarter

Hi,
Currently the reports use the date on each opportunity product to calculate the quarter, and the close dates on the opportunity products are not updated if you change the overall opportunity close date. I need to either be able to automatically update all the opportunity product close dates to match the opportunity close date OR (which i think will be easier) I was going to insert a field which will calculate the quarter based on the opportunity close date and add that as a column in the report.
What I need to know, is what function do i use to calculate the quarter based on the opportunity close date and what is the syntax?
Thank you.

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