Excel Number Formatting – Thousands and Millions
Excel number formatting is a larger topic than we think; we have already published topics Excel Custom Number FormattingExcel Custom Number FormattingIn Excel, Custom Number Format refers to changing the format of the numeric values as per your preferences to make the data look more visually appealing. This includes formatting large numbers in thousands or millions, formatting dates to only display the month names etc. , which includes all kinds of number formatting in excel. In today’s article, we will specifically concentrate on million formats of numbers in excel to allow them to show in a shorter format to read and understand very easily.
In the mathematics field, every number has different terminologies; for example, one thousand (1000) is represented as 1k, one lakh (1, 00,000) is represented as 100k. When someone says 500k, don’t get confused with it because 500k means 500,000.
Similarly, in excel as well, we can format the numbers to show as thousands, K’s, Millions, and Billions. In this article, I will show you the techniques of modifying or changing the format of the numbers in excel.
#1 – Excel Format Numbers in Thousands & in K’s
Firstly we will see how to format numbers in thousands & in K’s. Remember, both thousand & K are the same but need different formatting techniques in excelFormatting Techniques In ExcelFormatting is a useful feature in Excel that allows you to change the appearance of the data in a worksheet. Formatting can be done in a variety of ways. For example, we can use the styles and format tab on the home tab to change the font of a cell or a table..
Assume you have below set of numbers in your excel sheet.
Now we need to format these numbers in thousands; for example, I don’t want to see the number 2500, but instead, I want the formatting as 2.5 Thousand.
In order to change the view of the numbers, we need to change the formatting of the numbers.
Follow the below steps to change the formatting of the numbers.
- Right-click on the numbers you want to format and select Format Cells.
Note: You can also press the shortcut key Ctrl + 1 to open the Format Cells.
- Now go to Custom option.
- In the Type: section, we need to apply the formatting code. Below is the formatting code to change the formatting of the numbers.
Format Code: 0, “Thousands”
- Now, we must see values in Thousands.
One of the problems here is 2500 is showing as 3 Thousand, but we need the exact value to be viewed here. In order to make sure decimal values are not rounded up to the nearest thousand, we need to change our formatting code as below.
Format Code: 0.00, “Thousands”
Now we will see exact values with decimal points.
#2 – Unconventional Way of Showing Thousand Values
Step #1 – This is the unconventional method to show a thousand values. The thing we need to do here is, we need to divide the number by 1000 and combine the word “Thousand” by using the ampersand (&) symbol.
Step #2 – Format Numbers in K’s Values
In order to show a thousand numbers in K’s, we need to just change the word Thousand to K.
Format Code: 0.00, “K”
Step #3 – Result is as follows:
#3 – Format Numbers in Millions
In the previous step, we have seen how to format numbers in thousands; now, we will see how to format numbers in Millions.
Step #1 – Previous formatting code would show 10 lakhs as 1000 K, 25 lakhs as 2500 k, and so on.
We all know 10 lakh is equal to 1 million. So we need to format the number in millionsMillionsThe symbol MM is used to represent numbers in millions, with the symbol M standing for thousand in roman numerals. As a result, MM stands for a thousand multiplied by a thousand, which equals one million. Financial statements and other reports from large corporations often present amounts in the millions. instead of in thousands. Below is the code to format the number in millions.
Step #2 – Format Code: 0.00,, “Million”
Only on the difference between the previous code & this code is we have added one extra comma (,). Then we combined the word Million to it.
Step #3 – This code would show the result of numbers in Millions.
This format code is applicable only for millions. Imagine you have numbers that are less than 10 lakhs.
For example, 2.5 lakh would be shown as 0.25 Million instead of 2500 K. This is the common problem with a single referencing format code.
However, we can modify the code to show the result based on the cell value of numbers. For example, if the value is less than 10 lakh, the result should be in K’s, and if the value is greater than or equal to 1000,000, then the result should be in Million.
Step #4 – Format Code: [>=1000000] #,##0.0,,” M”;[<1000000] #,##0.0,” K”;General
Step #5 – This code will format the numbers according to the number value and show the results accordingly.
Things to Remember While Million Format in Excel
- Instead, Million, we can just show the alphabet M as a result.
- Instead of thousand, we can just show the alphabet K as a result. These two are alphabetical represents for Million & Thousands.
- In order to show the negative numbers in red color, apply the below code.
[>=1000000] $#,##0.0,,”M”;[>0] $#,##0.0,”K”;[Red]General
This has been a guide to Million Format in Excel. Here we discuss how to Format Numbers to Thousands or Millions in Excel using format code along with practical examples and a downloadable excel template. You may learn more about excel from the following articles –