Using Excel’s ROUND function to round to the nearest thousand

Subscriber Maki K. asks ‘in Excel how do I show $8,607 as $9,000 and $43,035 as $43,000?’.  The answer is the ROUND function.

You may be familiar with the ROUND function as it is often used to round a number or the result of a calculation to two decimal places.  So, 2.36 * 5% would give you 0.118.  ROUND(2.36*5%, 2) gives you 0.12.

You can also use a negative number as the second parameter to round to the left of the decimal point.  So, ROUND(8607, -3) gives you 9000 and ROUND(43035,-3) gives you 43000.

This can be useful if you have developed a detailed spreadsheet but want to present the numbers as a high-level budget with numbers rounded to the nearest hundred or thousand.