The whole process of rounding exists to make numbers simpler. Sometimes we don’t need to be very specific and exact. We often need a number that’s LESS complicated. In this case, eliminating the less significant digits in Excel help out a lot.
Rounding also helps to keep the numbers close to their original value. Long story short, rounding in Excel lets you get the approximate number that’s closest to the exact value. This is often used to give a general idea of currency values and avoid unnecessary decimals to get a clearer idea.
So, if you want to know the easiest tips and tricks to get rounding done to two decimal places, then you’ve come to the right place. We’re going to go into detail about every procedure there is. So, buckle up! We’re in for a long ride.
6 Easy Ways to Round Two Decimal Places in Excel
Rounding to two decimal places really isn’t all that difficult. In fact, there are 6 alternatives to choose from. So, which one is more suited for your need is for you to decide. Let’s begin the discussion without delay then, shall we?
Rounding By Changing Excel Cell Format
To start things off, let’s see how we can round to two decimal places using solely Excel cell format. Just follow the steps below and you should be golden.
- The first thing you want to do is, select the cell that contains the numbers you want to round.
- Simply press Ctrl + 1 to bring up the Format Cells dialog.
- Right click on the desired cell(s) and select Format Cells. You can do this from the context menu.
- Within the Format Cells window, switch to either Currency or Number tab.
- Type in the number of decimal places you wish to see in the decimal places box (2 in this case).
- You’ll see a preview of the rounded number immediately under the Sample section.
- Just click OK and you’re done.
Note: This changes the display format of the number without tampering with the actual value stored in the cell.
Using Number Format
On your Excel workbook you’ll find the Number group within the home tab. There within the dropdown menu, you’ll find More Number Formats at the bottom.
On the pop-up window under the Number tab, you’ll find the custom category. There you’ll wabt to type 0.00 on the Type box. You’ll get a preview of the outcome on the sample section above. Once you’ve done that, all you have to do is, press OK.
That should do the trick.
The Easy Way
You can use this method or you can just choose the fast way to do it. Under the Home tab, you’ll find the Numbers group. All you need to do is, press the increase or decrease decimal button. It really can’t get any easier than this.
Rounding Numbers with Functions
Unlike the cell format method, using functions not only alter the display value, but also change the actual cell value. There are actually a lot of ways you can go about it. Let’s make a list of the procedures, shall we?
- ROUND Function
- ROUNDUP Function
- ROUNDOWN Function
- TRUNC Function
Now that we’ve introduced you to the name of the specific functions, let’s talk about how they work to round two decimal places in Excel and how to apply them.
Round Function in Excel
If you want to round a specific numeric value to a certain number of digits, then the Round Function might be just for you.
The Syntax: ROUND(number, num_digits)
Number Limit: Any real number you want to round can be rounded. This can be a particular number or a reference to a definite cell that contains the number or a formula-driven value.
Note: The Excel Round function works according to the general math rules. In this case, the number to the right side of the rounding digit determines if the number is going to be rounded upwards or downwards.
In case of 5, 6, 7, 8, or 9 on the right, the rounded digit is increased by exactly 1.
In case of 0, 1, 2, 3, or 4, on the right, the rounded digit is decreased by exactly 1.
Procedure: The process can be easily seen by the image given below. By this method you can easily round a number by two decimal places.
ROUNDUP Function in Excel
The basic thing you need to know about the ROUNDUP function is that, it rounds numbers upwards and away from 0 to a specific number of digits.
The Syntax: ROUNDUP(number, num_digits)
Number Limit: Any number you wish to get rounded up.
Procedure: You can provide either positive or negative numbers in the argument. It works quite similarly to the round function. The only difference is, the number on the right is rounded up. In this case, the second digit after the decimal gets rounded up.
ROUNDDOWN Function in Excel
The ROUNDDOWN function is pretty much the same as the ROUNDUP function. It just rounds the number closer down to zero.
The Syntax: ROUNDDOWN(number, num_digits)
Number Limit: Any number you wish to get rounded down.
Procedure: The following image will show you how the ROUNDDOWN function goes down.
TRUNC Function in Excel
What the TRUNC function basically does is, it truncates a specific numeric value to a particular number of decimal places.
The Syntax: TRUNC(number, [num_digits])
Number Limit: You can truncate any real number using Excel
- The parameter of num_digits for the TRUNC function is optional. If not provided, the value will be zero by default.
- If the num_digits parameter is positive, then the number is truncated into the specific number of digits to the right side of the decimal point.
- If the num_digits parameter is negative, then the number is truncated into the specific number of digits to the left side of the decimal point.
Note that in all the functions we kept the digit cell value to 2. I mean that’s what we’re trying to achieve here, right?
We’ve covered all the convenient ways to round two decimal places in Excel. By now you should have a clear idea about how you want to execute the task. Take a procedure of your liking. I mean, excel offers multiple ways to get a single task done. It’s nothing new at this point.
I hope you found all the information to be useful. Until next time.