# Excel Tutorial: How To Change To Currency In Excel

## Introduction

When working with financial data or creating reports, it's essential to format numbers as currency in Excel to make them more readable and professional. In this tutorial, we will walk you through the steps of changing to currency in Excel, so you can easily display monetary values in your spreadsheets.

## Key Takeaways

• Formatting numbers as currency in Excel is essential for readability and professionalism.
• There are different number formats available in Excel, including currency, and it's important to understand how they appear.
• To change to currency in Excel, open the workbook, select cells, and choose the currency format from the 'Number' group in the 'Home' tab.
• Customizing currency formats and using shortcut keys can make currency formatting more efficient and tailored to specific needs.
• When working with currency formatting in Excel, it's important to be mindful of calculations, consistency, and additional formatting options like conditional formatting.

## Understanding Number Formats in Excel

When working with numbers in Excel, it is important to understand how to use different number formats in order to present your data in a clear and professional manner. Excel offers a variety of number formats that can be applied to cells, allowing you to customize the appearance of your data.

### Explain the different number formats available in Excel

Excel provides a range of number formats to choose from, including:

• General: This is the default number format in Excel and is suitable for most types of data.
• Currency: This format displays numbers with a currency symbol and allows you to specify the number of decimal places.
• Percentage: This format displays numbers as percentages, multiplying the cell value by 100 and adding a percentage sign.
• Accounting: Similar to the currency format, but aligns the currency symbols and decimal points in a column.
• Date: This format displays numbers as dates, allowing you to choose from a variety of date formats.

### Show examples of how numbers appear in different formats

Let's take a look at some examples to see how numbers appear in different formats:

• General: 1000.00
• Currency: \$1,000.00
• Percentage: 100%
• Accounting: \$ 1,000.00
• Date: 01/01/2022

## Steps to Change to Currency in Excel

To change the format of cells to currency in Excel, follow these simple steps:

A. Open the Excel workbook and select the cells you want to format

• Open the Excel workbook that contains the cells you want to format.
• Select the cells by clicking and dragging your mouse over them or by using the keyboard shortcuts.

B. Click on the 'Home' tab and locate the 'Number' group

• Once you have selected the cells, go to the 'Home' tab at the top of the Excel window.
• Locate the 'Number' group, which contains the formatting options for numbers.

C. Choose 'Currency' from the drop-down menu

• Within the 'Number' group, you will find a drop-down menu with various number formats.
• Click on the drop-down menu and select 'Currency' from the list of options.

D. Adjust the number of decimal places if necessary

• If you want to adjust the number of decimal places displayed in the currency format, you can do so by clicking on the 'Increase Decimal' or 'Decrease Decimal' buttons in the 'Number' group.
• Choose the appropriate number of decimal places for your currency formatting.

Once you have completed these steps, the selected cells in your Excel workbook will be formatted as currency, making it easier to display and work with financial information.

## Using Custom Formats for Currency in Excel

Excel offers a range of customization options when it comes to formatting currency. By using custom formats, you can tailor the appearance of currency values in your Excel sheets to meet your specific needs.

### Explain how to customize the currency format in Excel

Customizing the currency format in Excel is a straightforward process. To do this, you can follow these steps:

• Select the cell or range of cells that you want to format as currency.
• Right-click on the selected cells and choose "Format Cells" from the context menu.
• In the Format Cells dialog box, go to the "Number" tab and select "Currency" from the Category list.
• Click on the "Custom" option to open the Custom Format dialog box, where you can create your own currency format.

### Provide examples of different currency formats, such as adding currency symbols or changing the position of the symbol

Once you have accessed the Custom Format dialog box, you can experiment with various formats to achieve the desired appearance for your currency values. Here are some examples of different currency formats you can create:

• Adding currency symbols: You can add currency symbols such as \$, €, or £ to your currency formats by including them in the custom format code. For example, to display a dollar sign before the currency value, you can use the format code "\$#,##0.00".
• Changing the position of the symbol: If you prefer to place the currency symbol after the value, you can modify the format code accordingly. For instance, the format code "#,##0.00 \$" will display the currency symbol after the value.
• Customizing decimal places: You can also adjust the number of decimal places displayed for your currency values by modifying the format code. For example, the format code "\$#,##0.000" will display three decimal places.

## Using Shortcut Keys for Currency Formatting

When working with numbers in Excel, it is often necessary to format them as currency. Instead of going through the format cells dialog box every time, you can use shortcut keys to quickly achieve currency formatting.

### A. Introduce shortcut keys for quickly formatting numbers as currency

Shortcut keys are combinations of keys that, when pressed together, perform a specific function. In Excel, there are shortcut keys specifically for formatting numbers as currency. These shortcuts can save you time and make your workflow more efficient.

### B. Provide examples of shortcut keys for different currency formats

Here are some examples of shortcut keys for formatting numbers as different currency formats:

• Currency format for US Dollars: To format a number as US Dollars, you can use the shortcut keys "Ctrl + Shift + 4". This will add the dollar sign and two decimal places to the selected cells.
• Currency format for Euros: If you work with Euros, the shortcut keys "Ctrl + Shift + E" will format the selected cells as Euros, adding the euro symbol and two decimal places.
• Custom currency formats: You can also create custom currency formats and assign them to shortcut keys. For example, if you frequently work with a specific currency that does not have a built-in shortcut, you can create a custom format and assign it to a shortcut key for easy access.

## Tips for Currency Formatting in Excel

When working with currency in Excel, there are some best practices to keep in mind to ensure accurate and consistent formatting. Here are some tips to consider:

### A. Avoid formatting cells as currency if calculations will be performed on those cells

• Tip 1: If you plan to perform calculations on the currency values in a cell, it's best to format the cell as a number instead of currency. This will prevent any potential rounding errors or discrepancies in the calculations.
• Tip 2: Consider using a separate column for the actual currency values and another column for the calculated results, formatted as currency if needed.

### B. Use conditional formatting to highlight specific currency values

• Tip 1: Conditional formatting can be a powerful tool to visually highlight specific currency values based on certain criteria, such as highlighting negative amounts in red or identifying high-value transactions.
• Tip 2: Take advantage of built-in conditional formatting options in Excel or create custom rules to apply formatting based on your specific needs.

### C. Ensure consistency in currency formatting throughout the workbook

• Tip 1: Establish a standard currency format to be used consistently across all relevant cells and worksheets in the workbook.
• Tip 2: Utilize Excel's formatting options to create custom currency formats, such as specifying the number of decimal places or adding currency symbols.

By following these tips, you can effectively manage currency formatting in Excel and ensure that your financial data is presented accurately and professionally.

## Conclusion

In summary, this tutorial covered the key steps to change to currency in Excel, including selecting the cells or range, navigating to the format cells dialog, and choosing the desired currency format. It is important to encourage practice and experimentation with currency formatting in Excel to become more familiar and comfortable with the process. Additionally, it is essential to understand and apply proper number formats in Excel to ensure accurate and professional-looking spreadsheets. By following these guidelines, users can effectively utilize currency formatting to enhance their Excel documents.

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