In an excel worksheet, there are some available number formats. You can transform your numerical values to any of the format as per your choice. The most common application of Excel is in the business and accounting sectors. If you use Microsoft Excel for accounting purposes, then you might need to use the Accounting Number format for your numerical values. This article will give you a clear idea about what the Accounting Number format is and will show you how to apply this formatting in Excel.
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What Is Accounting Number Format?
To work with data related to money, Excel usually offers two types of number formatting: Currency format & Accounting Number format. Both these types are almost similar and have some common features: show a currency symbol(usually a “$” sign by default), two decimal points, and comma separators. The uniqueness of the currency format is that it puts the dollar sign and the number perfectly in a column which makes it more reader-friendly and eye soothing.
Difference Between Accounting and Currency Format
Although the accounting number format is almost similar to the currency format, there is a little bit of difference between them. The differences you will notice are stated below:
- The Accounting Number format displays the zero value as “–” (dash) whereas the Currency format displays the zero value as “0.00”.
- The Accounting Number format displays the dollar symbol ($) at the left end of a cell whereas the Currency format shows it just adjacent to the number.
- The Accounting Number format displays the negative number enclosed with parenthesis but the Currency format shows it with a minus symbol “–” before the number.
The screenshot above allows us to visualize the basic differences between the Accounting Number format and the Currency format.
2 Quick Ways to Turn into Accounting Number Format in Excel
In this section, you’ll find 2 easy ways for formatting accounting numbers in Excel. Let’s check them now!
1. Accounting Number Format by Using Number Format
Let’s say, we have got a dataset of several particulars of a business organization and their amount over a certain period of time.
We want to transform the number into Accounting Format. And for this, follow the steps below:
- First of all, select the data range> go to the Home tab> click the right arrow of the Number Format option> select Accounting.
- Then your result will be ready.
So easy isn’t it? You can now format account numbers quickly by using this method.
2. Use Format Cells Option to Format Number to Accounting
For our previous dataset, we want to format the accounting number by using the Format Cells option. And for this, follow the steps below:
- First of all, select the data range, right-click the mouse and click Format Cells.
- Then, the Format Cells dialogue box will show up. After that, select Accounting from the Number Category and click OK.
- Now, Your result will be ready.
This way, you can quickly format accounting numbers in the blink of an eye.
Advantages of Accounting Number Format in Excel
- Customizing cell presentations can be done with or without any symbol.
- Easy and efficient to use as you can see we can convert into the Accounting Number format within the blink of an eye.
- By default, it adds the standard practice of decimal points.
Things to Remember
- This format is only applicable to numeric values.
- Formatting the number doesn’t actually change the cell values. It only means how the values will look like on the screen.
- If you apply the Accounting Number format to a cell of an Excel spreadsheet, any numeric value subsequently added to this cell will display in Accounting Number format.
- You can apply the Accounting Number format when you neither want to show any negative/zero value nor want to change the data (which contains a negative/zero value).
In this article, I have tried to give you an overview of the Accounting Number format, its use & its application, and the process of formatting Accounting Number. If you have any better methods or questions or feedback regarding this article, please share them in the comment box. This will help me enrich my upcoming articles. For more queries, kindly visit our website ExcelDemy.