Functions
ROUNDING
The Excel ROUND function returns a number rounded to a given number of
digits. For example, the ROUND function can display 4,567.23 when the original data displays as 4,567.232145 by stating the given number of digits as 2. This image shows the =ROUND function rounding to 2 decimals.
digits. For example, the ROUND function can display 4,567.23 when the original data displays as 4,567.232145 by stating the given number of digits as 2. This image shows the =ROUND function rounding to 2 decimals.
Excel screen image here
The ROUND function can round to the right or left of the decimal point, for example the ROUND function can display 4,234,654 as 4,235,000
Excel screen image here
The details.
=ROUND(B10,1) -- Rounds B10 to 1 decimal place
=ROUND(B10,2) -- Rounds B10 to 2 decimal places
=ROUND(B10,3) -- Rounds B10 to 3 decimal placesSolutions:
Let’s assume you have a downloaded accounting trial balance where all the balances are 2 decimals. When grouped into a financial statement that shows only whole dollar amounts. you are then plagued with pesky dollar rounding differences. Why does this occur? Let’s say there are two cash accounts with balances of
4,500.45
3,900.35
When grouped on the financial statement the (combined) cash balance would be 8,401 yet we expect the displayed balance to be 8,400. One solution is to use the ROUND function on the financial statement………