Please Note: This article is written for users of the following Microsoft Excel versions: 2007, 2010, 2013, 2016, 2019, and Excel in Microsoft 365. If you are using an earlier version (Excel 2003 or earlier), this tip may not work for you. For a version of this tip written specifically for earlier versions of Excel, click here: Rounding to the Nearest Half Dollar.
Written by Allen Wyatt (last updated December 21, 2019)
This tip applies to Excel 2007, 2010, 2013, 2016, 2019, and Excel in Microsoft 365
When working with financial data, one common need is to round amounts to some specific point. For instance, you may need to round amounts to the nearest half dollar. The traditional way to perform such a rounding task is to use the ROUND function, with a formula like this:
=ROUND(E27/0.5,0)*0.5
The formula divides the value in E27 by 0.5 (half a dollar), and then rounds it to zero decimal places. The value is then multiplied by 0.5 to get it back to the form you need. If you prefer to not multiply and divide by decimal amounts, you can accomplish the same task in this manner:
=ROUND(E27*2,0)/2
Perhaps an even better approach is to use the MROUND function. This function will round a value to any multiple you specify. In this case, if you want to round the value in E27 to the nearest half dollar, you would use this formula:
=MROUND(E27,0.5)
ExcelTips is your source for cost-effective Microsoft Excel training. This tip (9664) applies to Microsoft Excel 2007, 2010, 2013, 2016, 2019, and Excel in Microsoft 365. You can find a version of this tip for the older menu interface of Excel here: Rounding to the Nearest Half Dollar.
Solve Real Business Problems Master business modeling and analysis techniques with Excel and transform data into bottom-line results. This hands-on, scenario-focused guide shows you how to use the latest Excel tools to integrate data from multiple tables. Check out Microsoft Excel 2013 Data Analysis and Business Modeling today!
Rounding is normally done so that values greater than or equal to .5 are rounded up and less than .5 are rounded down. ...
Discover MoreNeed to round a value by a power of 10? You can do it by using the ROUND function as described in this tip.
Discover MoreWhen preparing financial reports, it may make your data easier to understand if you round it to the nearest multiple, ...
Discover MoreFREE SERVICE: Get tips like this every week in ExcelTips, a free productivity newsletter. Enter your address and click "Subscribe."
2019-12-27 09:22:23
Peter Atherton
Russell
A good point, I didn't know that before. Mind you Allen's formula works correctly with exceptions in the article; and so does his modified Function.
Function cMROUND(Number, Multiple) As Variant
cMROUND = Application.Round(Number / Multiple, 0) * Multiple
End Function
2019-12-23 04:28:32
Russell Stainer
Something to be aware of ... from the Microsoft website - "When a decimal value is provided to the Multiple argument , the rounding direction is undefined for midpoint numbers. For example MROUND(6.05,0.1) returns 6.0 while MROUND(7.05,0.1) returns 7.1."
https://support.office.com/en-gb/article/mround-function-c299c3b0-15a5-426d-aa4b-d2d5b3baf427
Got a version of Excel that uses the ribbon interface (Excel 2007 or later)? This site is for you! If you use an earlier version of Excel, visit our ExcelTips site focusing on the menu interface.
FREE SERVICE: Get tips like this every week in ExcelTips, a free productivity newsletter. Enter your address and click "Subscribe."
Copyright © 2024 Sharon Parq Associates, Inc.
Comments