Wednesday, December 31, 2008

Excel 2007 Number, Currency And Accounting

By Lynne Kramer

When entering numbers into a spreadsheet, one often needs to ensure that the number format is consistent. For example, if the numbers represent prices, you may want to display the appropriate currency symbol or you may simply want to ensure that the number of decimals displayed is always the same.

Unless you specify otherwise, all numbers in Excel are rendered in the "General" format. This means that numbers are displayed exactly as you enter them: if you enter two decimals, two decimals are displayed; if you went to one decimal, one decimal is displayed; and so on.

When specifying the number format, the best idea is usually to select the whole column. To do this, click on the letter or letters representing the column. (Any text contained in the selection will not be affected by the number format you specify.)

Number formats are specified in the "Numbers" group of the Home Tab of Excel's Ribbon. There are three important formats which apply to numbers: the first is simply called "Number", the second "Currency" and the third "Accounting". To gain access to the complete range of number formats, click on "More Number Formats" in the "Numbers" drop-down menu. Another way of opening the "Numbers" dialog box is to click on the launch button in the "Numbers" group of the Home Tab of the Excel Ribbon.

Clicking on any of the number formats on the left, displays a series of choices which enable you to refine the way that the format will work. For example, if you have numbers referring to an hourly rate, you might click the "Number" category in the left column and then specify two decimal places. The option which reads "Use Thousands Separator" is used to insert the appropriate separator to demarcate thousands. The separator used will depend on your locality: for example, in most European countries a dot will be used; in the UK or USA, a comma will be used.

The final option in the "Number" category controls the display of negative numbers. The default is to display a minus sign in front of the number and leave the colour of the number unchanged. However, you can also dispense with the minus sign and change the colour of negative numbers to red; or you can both change the colour of negative numbers to red and display the minus sign.

When we click the "Currency" category, we have pretty much the same choices with the addition of the currency symbol. We can specify which currency symbol is used or we can dispense with the symbol altogether.

The "Accounting" category is pretty much the same as "Currency". Once again, you can choose a particular currency symbol. However, you will notice that you do not have any choices relating to negative numbers. The convention in accountancy circles is to always place negative numbers in brackets.

As well as using the number dialog box, you'll notice a series of handy buttons which can apply each of the number formats with one click. There are also a couple of buttons for increasing and decreasing the number of decimals displayed in the selected cells.

Finally, there may be times where, although you enter a number into a cell, you do not want Excel to treat it as a number. For example, if you have a column of data containing a client ID, although the ID may be numeric, you may not want Excel to treat it like a number or to modify it in any way. You will probably want it to stay exactly the way it was entered. Whenever this is the case, it is best to format the number as "Text". The simplest way of doing this is to select the appropriate column and in the number dialog box choose "Text" as the format. - 16003

About the Author: