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

In focus: Payroll

Providing payroll services that comply with ever-changing regulations and meet evolving employee and employer demands is no easy task. Paychex's Tom Hammond discusses common payroll considerations for CPA firms.

PODCAST

A closer look at threats to CPA licensure

Legislation in states around the country could put CPA licensure in danger. This episode examines what practitioners need to know to help ensure the profession is protected.