Dollar Formula in Excel | Quick Guide
The dollar function in excel is used to convert a number to text value in a currency format with decimals rounded to mentioned decimal places.
This is one of the text functions used in excel to convert a number to text mainly used to show currency values in excel.
Let’s see how to use the dollar formula in excel.
Here’s the syntax of the excel dollar function:
= DOLLAR(number, decimal places)
Number: This is the numeric value to be converted to text value.
Decimal Places: This is the number of decimal places or number of decimal digits to be shown. Note that this argument is optional.
How to use the dollar formula in excel
Here’s some sample data to show you how dollar formula in excel works:
- No decimal places:
Excel will convert the number to text with the default currency symbol and round the value to 2 decimal points.
- Decimal place equals 0:
In first case excel will return rounded text value with no decimal places and in second case it’ll return just return the same value as text with no other change.
- Decimal place is positive:
In first case excel will return the text value with the mentioned decimal places that is 4 and in second case as the initial number only has 2 decimal places, excel will add zeros to return text value with 4 decimal places.
- Decimal place is negative
In first case excel will return the text value with rounding 1 digit to the left of decimal point, in second case it’ll return text value with rounding 2 digits to the left of decimal point and in third case it’ll return text value with rounding 3 digits to the left of the decimal point.
Things to note:
- The currency symbol returned by the formula depends on the default currency of the system which is based on language settings.
- The dollar function converts the value to text with the following currency format ($#,##0.00_);($#,##0.00)
- You can also use TEXT formula to convert the numeric value to text which is better than the dollar formula.
Other Important Formulas
To learn more here are some more interesting tips and tricks in excel:
This was all about the dollar formula in excel.
We hope you learned how to use dollar formula in excel with the dollar function example.
In case you have any suggestions or questions please feel free to drop them down in the comment section below.
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