A Faster Way To Round A Number

BY STANLEY ZAROWIN

Q. When I round financial data to the nearest half-dollar, I use the ROUND function, and while it works fine, a colleague told me the MROUND function is even better. But I can’t find it in Excel. Can you help?

A. My bet is that you haven’t loaded Analysis ToolPak , a collection of powerful functions that comes bundled with Excel but for some reason isn’t automatically loaded when you set up Excel. To load it click on Tools , Templates and Add-Ins . Then place a check next to Analysis ToolPak and you’re in business (see screenshot below).

If you don’t find it under Add-Ins , you have to reload Excel from your original Microsoft Office disk.

When using the ROUND function, you can round to the nearest half-dollar with either of these formulas:

=ROUND(A1/0.5,0)*0.5 or =ROUND(A1*2,0)/2.

The MROUND function uses a shorter formula:

=MROUND(A1,0.5).

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

TECHNOLOGY Q&A

How to create maps in Excel 2016

Microsoft Excel 2016 has two new mapping capabilities. J. Carlton Collins, CPA, demonstrates how to make masterful 2D and 3D maps in Excel 2016.

QUIZ

News quiz: Economy and health care changes top CPAs’ list

CPA decision-makers’ economic outlook and the House Republicans’ proposed tax changes as part of replacing the Patient Protection and Affordable Care Act received attention recently. See how much you know with this short quiz.