Most standard financial reports round to some form of a large value. For example, the report may show numbers in millions or rounded to the nearest 100,000.

This is done in Excel via the ROUND function. The function has two parameters:

=ROUND(number, num_digits)

• The number defines the initial value to be rounded
• The number of digits determines how many digits to round the number

Here is an example of a large value with various rounding results:

But did you know that you have a variety of options for the number of digits?  

• A positive value rounds to the nearest applicable decimal
• A zero value rounds to the nearest integer
• A negative value rounds to the left of the decimal point

Here is the same example using negative rounding:

This approach could also be used to round to the nearest thousand (-3) or the nearest million (-6).  

In addition, Excel offers two other options: ROUNDUP and ROUNDDOWN.  

• ROUNDUP will always round away from zero (e.g., round up)
• ROUNDDOWN will always round toward from zero (e.g., round down)

By using a combination of the appropriate ROUND function and a positive/negative number, you can ensure that all your reports show the values you want users to see.

IBM Planning Analytics, which TM1 is the engine for, is full of new features and functionality. Not sure where to start? Our team here at Revelwood can help. Contact us for more information at info@revelwood.com. And stay tuned for more Planning Analytics Tips & Tricks weekly in our Knowledge Center and in upcoming newsletters!

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