Abdul Alim: a little bit learning, let's go

Excel, VBA and Power BI tutorials 

FIXED Formula

Definition

The FIXED formula in Excel is one of the many advanced Excel functions for data analysis. This useful formula formats a number as text with a fixed number of decimal places, rounding the number as necessary. The FIXED formula, an integral part of the Excel functions list, is frequently used for creating custom formulas in Excel.

Purpose

The purpose of the FIXED formula is to offer a way of controlling the display of numerical values in your Excel calculator. It helps you achieve consistent decimal places in a column of numbers, thereby enhancing data readability and interpretation. It’s one of the best Excel functions to maintain uniformity in your spreadsheets.

Syntax

The syntax for the FIXED formula is as follows:

FIXED(number, [decimals], [no_commas])

Parameters

The FIXED formula takes three parameters:

1. Number: The numeric value that you wish to format.

2. Decimals (Optional): The number of decimal places to display in the result. If left blank, Excel defaults to 2 decimal places.

3. No_commas (Optional): A logical value (TRUE or FALSE) to control the display of the comma as a thousand separator.

Returns

The FIXED formula returns a text representation of the number, rounded to the specified number of decimal places.

Usage notes

Remember that while the FIXED formula alters the way a number is displayed, the underlying value in the cell remains unchanged.

Availability

The FIXED formula is accessible across all versions of Excel. Whether you are working on a PC, a Mac, or an online version of Excel, you can comfortably use the FIXED formula.

Example #1

Let’s look at a basic example:

=FIXED(123.456)

The formula returns “123.46” as we didn’t specify the decimal places, and Excel defaulted to 2.

Example #2

Let’s see an example where we specify decimal places:

=FIXED(123.456, 1)

The formula returns “123.5” as we have specified one decimal place, and Excel rounds off the number accordingly.

Example #3

What happens when we input a negative value for decimal places? Let’s see:

=FIXED(123.456, -1)

The output is “120”, rounding off the number to the nearest tens place.

Example #4

Let’s see how to use the third parameter:

=FIXED(123456.789, 2, TRUE)

The formula returns “123457.79”, eliminating the comma because we specified TRUE for no_commas.

Example #5

Using cell references is equally possible:

=FIXED(A2, 2)

Assuming cell A2 contains 456.789, the formula will return “456.79”.

Tips and Tricks

To display a number without any decimal places, simply set the ‘decimals’ argument to zero.

Limitations

Since this formula returns a text string, you cannot directly use the output for further numerical calculations.

Common errors and solutions

A common error is forgetting that this formula returns a text string. If you try to use the result in further mathematical operations, Excel will return a #VALUE! error.

Best Practices

To avoid errors, always perform your numerical operations first, and then use the FIXED formula for final formatting.

List of Related functions

Here are some other Excel functions you may find useful:

• ROUND: Rounds a number to a specified number of digits.

• DOLLAR: Formats a number in dollar format.

• TEXT: Converts a number to text according to a specified format.

Frequently Used with the formulas

FIXED often finds its use with other Excel functions like CONCATENATE for creating custom text strings, or with IF for creating conditional formatting rules.

Frequently Asked Questions

Q. Can I use a negative number for ‘decimals’ in the FIXED formula?

Yes, a negative number for ‘decimals’ will round the number to the nearest 10, 100, 1000, and so forth.

Q. Can I use cell references in the FIXED formula?

Yes, you can use cell references within this formula, making it a highly flexible tool for your Excel calculator.

Q. What is the default number of decimal places in the FIXED formula?

If the ‘decimals’ argument is omitted, Excel will default to 2 decimal places.

Understanding the FIXED formula will empower you to control the display of numbers in your Excel spreadsheets effectively, enhancing readability and analysis.