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

Solving the lease accounting challenge

The challenges of the new lease accounting standard have been pervasive to say the least. In this free, independently-written report, you'll learn effective adoption strategies as well as resources for easing the transition to the new standard.

FEATURE

Tackling TCJA changes this tax season

Return preparers must be ready for how the Tax Cuts and Jobs Act has modified many common features of individual and business returns.