Accounting Number Format In Excel

Article byAshish Kumar Srivastav
Edited byAshish Kumar Srivastav
Reviewed byDheeraj Vaidya, CFA, FRM

What Is The Accounting Number Format Excel?

Accounting number format is also known as the Currency format in Excel. But there is a difference between those two. Also, the Currency format is the only general currency format. Still, the Accounting number format is the proper Currency format with the option to have decimal values, which are two by default.

Spreadsheets that contain currency like a balance sheet and an income statement are tricky to create. At times, decimals, dollar signs, and numbers are not aligned, creating confusion. Hence, the accounting format is much preferable for this purpose. 

For example, consider the below text string.

Now, let us use Accounting number format in Excel to change the number into dollars ($).

Click on Home – Number – General drop down and change it into Accounting.

The data will be readily converted into dollars as shown in the below image.

Likewise, we can use accounting number format in Excel.

Key Takeaways

  1. The Accounting number format and the Currency format are two formats available in Excel. The Currency format is general, and the Accounting number format is proper with default decimals of 2.
  2. To select a row or column, tap its letter or number. To select the whole sheet, click the box next to “A” or above “1”. Remove symbols and choose decimal preference. Custom format changes its appearance, not value.
  3. In Excel, modifying work in format creates a duplicate format. Custom number formats only affect display, not value. Removing a custom format shows cells in the default format.

Accounting Number Format In Excel Shortcut

Shortcut Keys use Accounting Format 1

Shortcut Keys use Accounting Format 2

Explanation

The Accounting number format in Excel is like the Currency format and can be connected to numbers wherever required. The contrast between the Accounting number format and the Currency format is that the Accounting format inserts the dollar sign. For instance, the extreme left end of the cell showcases zero as a dash. However, the format numbers are the same as currency.

  • You can show a number with the default currency symbol by choosing the cell or scope of cells. After that, click on Excel.
  • It has several contrasts that make it less demanding to do accounting. For example, demonstrating zero values as dashes, adjusting all the currency symbols and decimal places, and showing negative sums in enclosures.
  • Excel’s standard Accounting number format contains two decimal points, a thousand separators, and locks the dollar sign to the extreme left half of the cell. Negative numbers are shown in enclosures.
  • To apply the Excel Accounting number format in a spreadsheet program, feature every cell and click “Accounting Number Format” under formatting choices.
  • A duplicate of that format is created when modifying work in Excel format. The first number format cannot be changed or erased.
  • Custom number formats only affect how a number is shown in the worksheet and do not affect the original value of the number.
  • Any cells showing in the workbook formatted with the removed custom format can be shown in the default general format in the workbook.

How To Use Accounting Number Format In Excel?

You can download this Accounting Number Format Excel Template here – Accounting Number Format Excel Template

Below are the steps for applying for the account number in Excel: –

  1. Enter the values in Excel to use the Accounting number format.


    Accounting Number Format 1

  2.  First, we can use the Accounting number format in Excel in the “Account Number Format” button on the “Home tab” of the ribbon. Select the cells, click on the “Home” tab, and select the “Accounting” from the Number Format drop-down.


    Accounting Number Format 2

  3. On clicking on “Accounting”, it may give us the accounting format value.


    Accounting Number Format 3

  4. If you want to remove the decimal, click on the ‘Decrease Decimal’ option.


    Accounting Number Format 4

  5. We can see the value without decimals by removing the decimal below.


    Accounting Number Format 5

  6. We can also remove the dollar or currency symbol from a value. For doing that, press right-click and go to the “Format Cells” option in the dialog box.


    Accounting Number Format 6

  7. Choose the “Accounting” option under the “Format Cells.” Choose the symbol. Choose “None” if the dollar sign with values is not needed. Then, click OK.


    Accounting Number Format 7

  8. Below is the formatted data after removing symbols and decimal points.


    Accounting Number Format 8

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Examples

Example #1

For example, consider the below text string showing products and prices.

Now, let us use Accounting number format in Excel to change the number into dollars ($).

Click on Home – Number – General drop down and change it into Accounting.

The data will be readily converted into dollars as shown in the below image.

Accounting Number Format in Excel - dollar

Likewise, we can use accounting number format in Excel.

Example #2

For example, consider the below text string with dollars.

Accounting Number Format in Excel - Example 2

Now, let us use Accounting number format in Excel to change the dollar ($) sign into Euro.

Click on Home – Number – General drop down and change it into Accounting. Next choose Euro symbol.

The data will be readily converted into dollars as shown in the below image.

Accounting Number Format in Excel - Example 2 - Output

Likewise, we can use accounting number format in Excel.

Example #3

For example, consider the below text string.

Accounting Number Format in Excel - Example 3

Now, let us use Accounting number format in Excel to change the number into dollars ($).

Click on Home – Number – General drop down and change it into Accounting.

The data will be readily converted into dollars as shown in the below image.

Accounting Number Format in excel - Example 3 - Output

Likewise, we can use accounting number format in Excel.

Advantages of Using Accounting Number Format in Excel

  1. It helps to customize it with or without the symbol.
  2. It helps in showing the correct value with decimal points.
  3. It is just a three-step process.
  4. It is very easy and convenient to use.

Disadvantages of Using Accounting Number Format in Excel

  1. This Excel function always provides the number format with a thousand separators.
  2. It enables the default currency and decimal points while using this function.

Important Things To Note

  • Instead of choosing a range of cells, likewise can be tapped on the letter over a column to select the whole column or the number next to a column to select an entire row. Again, tap the little box to one side of “A” or above “1” to choose the whole spreadsheet at once.
  • Always check to remove unnecessary symbols.
  • Decimal is also the user’s choice to put them in values or not.
  • A custom Excel number format changes just the visual representation, such as how a cell’s value is shown. The primary value put away in a cell is not changed.

Frequently Asked Questions

1. How do I change a cell to Accounting number format?

To format numbers as currency or accounting in Excel, go to the Home tab and click the Dialog Box Launcher next to Number. Alternatively, press Ctrl+1 to open the Format Cells dialog box. Then, select Currency or Accounting from the Category list.

For example, consider the below text string.



Now, let us use Accounting number format in Excel to change the number into dollars ($).

Click on Home – Number – General drop down and change it into Accounting.

Note: We can choose the desirable format.

The data will be readily converted into dollars as shown in the below image.



Likewise, we can use accounting number format in Excel.

2. Is the separator used in Accounting number format?

The Accounting format in Excel is ideal for presenting financial data accurately and consistently. It displays currency values with precision, including two decimal places and a thousand separator. The dollar sign is always locked to the left half of the cell, making it easy to read and compare values.

3. How do I choose an Accounting number format?

To format cells in a spreadsheet, right-click and select “Format Cells” from the context menu. A dialog box will appear, and you should then choose the “Number” tab. Next, select “Accounting” from the “Categories” menu. The menu will display a sample of how the formatting looks when it is applied.

This article is a guide to an Accounting Number Format in Excel. We discuss applying the Accounting number format in Excel using shortcuts keys, practical examples, and downloadable templates. You may learn more about excel from the following articles: –

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