How to Round to the Nearest 5 Cents with MROUND

Use MROUND for cash rounding: round each cash ticket to the nearest 5¢ and reconcile the till.

You will learn to

• Round an amount to the nearest 0.05
• Measure the rounding difference
• Total only cash tickets after rounding each one

How it works

MROUND(number, multiple) rounds to the nearest multiple you choose. =MROUND(12.37,0.05) returns 12.35, which is how countries without a 1-cent coin round cash payments. The same function rounds times to the nearest 0.25 hour or quantities to the nearest 50.

MROUND rounds halfway values away from zero, and the number and multiple must have the same sign (=MROUND(-5,3) returns #NUM!). In cash rounding, round each cash ticket separately — rounding the day’s total instead gives a different figure from what the till actually took.

=MROUND(B2,0.05)