While preparing the Income Statement reports such as ‘Net Sales’, you can see if the company’s sales are improving over time by comparing the current year’s figure to previous year’s figures.
For example, imagine looking at the Income Statement with the following amounts over the past two years: $4,716,917&$4,502,079. Now look at the amounts rounded to the nearest thousand: $4,717&$4,502. The rounded figures allow you to focus on the relevant digits. The rounded amounts also make it easier to see the trend.
To round a number we can use the Round, Roundup, Rounddown functions.We can round a number to a specific number of digits by using Custom Formats too.
Rounding Numbers to Specific Number using Custom Format
Column A contains few numbers which need to be rounded down to two digits.
To achieve this -
This is how the numbers look after formatting, see the below screenshot:
We can also use the Round, Roundup & Rounddown functions to achieve this.
Let us take an example of each function to understand them.
ROUND: Rounds a number to a specified number of digits
Example of Round
In the above example A2 contains 15.3, formula in B2 will give us 15.
If the digits of the number you are rounding contain 5,6,7,8,9 then round the number up
e.g. 18.7 rounded to the nearest ten i.e. 19
If the digits of the number you are rounding contain 0,1,2,3,4 then round the number down.e.g. 15.3 rounded to the nearest ten i.e. 15
ROUNDUP: Rounds a number up, away from zero.
Example of RoundUp
ROUNDDOWN: Rounds a number down, toward zero
Example of RoundDown
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