One of the most popular spreadsheet applications is Excel, which is widely used across a wide range of industries. However, it has a special place in the business and accounting fields because it has many built-in accounting-friendly features that make it very easy to use. One of these features is the Accounting Number Format, which Excel uses when working with money-related data.
Using Excel, you can create financial reports, analyze data, and more. Many accountants use Excel to store, organize, and analyze financial data. It is important to maintain consistent formatting across cells when working with financial values. Using accounting number format in your workbooks can help you format your values consistently, making them easier to use and review.
There are multiple ways to apply accounting number formatting to your numbers if you use Microsoft Excel for accounting purposes. Here’s how.
This gearupwindows article will show you how to apply accounting number format in Excel, and if you are looking for how to apply accounting number format, then you’ve come to the right place.
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What is Accounting Number Format?
Similar to the Currency format, Accounting Number Format can be applied to numbers as needed. The accounting format differs from the currency format, such as:-
Accounting Number Format displays the currency sign in a column to the left of the cell, whereas Currency Format shows the currency sign next to the number.
Zero values display as ‘–’ (dash) in Accounting Number Format, but Currency Format displays it as 0.
Negative numbers display in parentheses () in Accounting Number Format, however, Currency Format displays negative numbers with a ‘–’ (minus) symbol.
Note: The Excel program does not display negative numbers in parenthesis by default. It is an optional setting that accountants can set.
How to Apply the Accounting Number Format in Excel using the Accounting Number Format icon?
To use the accounting number format in Excel through the Accounting Number Format icon, use these steps:-
Step 1. Open your existing Microsoft Excel Worksheet or create a new one and fill in the data on that.
Step 2. Now, select the cells you want to change the format.
Step 3. Select the
Step 4. In the “Number” section, click the small down arrow icon beside the
Step 5. Finally, select a currency type in the drop-down list.
If your country’s currency is not listed here, click on the
As an example, we have selected “$ English (United States),” and below is a screenshot of what our sheet looks like.
How to Use the Accounting Number Format through the Format Cells Dialog Box?
To use the Accounting Number Format through the Format Cells Dialog Box, follow these steps:-
Step 1. Open your existing Microsoft Excel Worksheet or create a new one and fill in the data on that.
Step 2. Now, select the cells you want to change the format.
Step 3. Right-click on the chosen cells and select
Step 4. In the Format Cells dialog, switch to the
Step 5. The “Decimal places” box lets you select the number of decimals to display. Excel applies two decimals by default.
Step 6. Select your desired symbol to display in selected cells in the Symbol box.
Step 7. Click
Now selected cells will display their values as accounting numbers.
