I. Intro
The VALUE function converts text strings that represent numbers into numerical values.
II. About the function
- Formula: =VALUE(text)
- Parameters:
- text (required): A quoted text, or a reference to a cell that needs to be converted into numbers.
- Example: =VALUE($11.30)
III. Steps
Use the VALUE function
- Select a cell and click Formulas on the toolbar, then select Text > VALUE. You can also directly enter =VALUE in a cell.
- Enter the parameters in the cell. For example: =VALUE(A1)/=VALUE("11:30").
- Press Enter to display the result, which is 0.479166667 in this example.
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Delete the VALUE function
Select the cell with the VALUE function, and press Delete.
IV. Use case
Budgeting: Calculate differences
Checking whether project costs are in line with the proposed budget is an important step in determining project success. The VALUE function makes it easy to compare the two numbers, even when they're in different formats.
- Formula used below: =VALUE(C2-D2)
- About the parameters: This formula finds the difference between the budgeted amount and the actual amount spent. The VALUE function here ignores the currency sign and looks at the numerical values only, to give us the difference between the two numbers.
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