Accounting Number Format in Excel

The accounting number format is also known as the currency format in excel, but there is a difference among those two also currency format is the only general currency format but accounting format is the proper currency format with the options to have decimal values which are two by default.

What is the Accounting Number Format Excel?

The Accounting format in excel is like the Currency format and can be connected to numbers where required. The contrast between the Accounting format and the Currency format is that the Accounting format puts the dollar sign, for instance, at the extreme left end of the cell, and showcases zero as a dash. Format numbers are the same as currency.

• You can show a number with the defaulting currency symbol by choosing the cell or scope of cells, and after that, click in excel.
• In any case, this has a couple of 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.
• The standard accounting format in excel contains two decimal points, a thousand separator, 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 single cell, and click “Accounting Number Format” under formatting choices.

How to Apply Accounting Number Format in Excel?

Shortcut Keys to Use Accounting Number Format in Excel

• Select the cells which you want to format.
• Press the Alt key that enables the commands on the ExcelCommands On The ExcelVLOOKUP function, IF condition, CONCATENATE function, find MAXIMUM and MINIMUM values are the most commonly used excel commands.read more ribbon.

• Press H to select the Home tab in the Excel ribbonExcel RibbonThe ribbon is an element of the UI (User Interface) which is seen as a strip that consists of buttons or tabs; it is available at the top of the excel sheet. This option was first introduced in the Microsoft Excel 2007.read more enables the Home tab of Excel.
• Press 9 to decrease the decimal and press 0 to increase the decimal point in values.
• If you want to open the format cells dialogue also, press Ctrl+1.
• If you want to show a monetary value without a currency symbol, you can click None under option format cellsFormat CellsFormatting cells is an important technique to master because it makes any data presentable, crisp, and in the user's preferred format. The formatting of the cell depends upon the nature of the data present.read more.
• Similar to the Currency format, the Accounting group is utilized for financial qualities. In any case, this arrangement adjusts the currency symbol and decimal purposes of numbers in a section. Likewise, the Accounting design shows zeros as dashes and negative numbers in brackets. Like the Currency organize, you can determine what number of decimal spots you need and whether to utilize a thousand separator. You can’t change the default show of negative numbers except if you make a custom number organization.

Advantages of Using Accounting Number Format in Excel

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

Disadvantages of Using Accounting Number Format in Excel

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

Things to Remember While Using Accounting Number Format Excel

1. Rather than choosing a range of cells, you can likewise tap on the letter over a column to select the whole column or the number next to a column to select an entire row. You can again tap the little box to one side of “A” or above “1” to choose the whole spreadsheet at once.
2. Always check if you don’t need a symbol, remove it.
3. Decimal is also the user’s choice if they want to put the decimal in values or not.
4. A custom Excel number format changes just the visual representation, for example, how value is shown in a cell. The primary value put away in a cell isn’t changed.
5. When you are modifying a worked in Excel format, a duplicate of that format is made. The first number format can’t be changed or erased.
6. Custom number formats only affect the way a number is showing in the worksheet and do not affect the original value of the number.
7. Any cells showing in the workbook that was formatted with the removed custom format will be shown in the default General format in the workbook.

Recommended Articles

This has been a guide to an Accounting Number Format in Excel. Here we discuss how to apply accounting number format in excel using Shortcuts Keys and practical examples, and downloadable templates. You may learn more about excel from the following articles –

• Format Number in VBA
• Types of Custom Number Format in Excel
• Types of File Formats in Excel
• Auto Format Excel – How to?
• IF AND in Excel