Excel rounding numbers

[Guest]

I have an Excel worksheet used to bill customers each month. It is set up
similar to this:

J K L M
N
Balance Fwd Finance Chrg Current Due Total Due Payment Balance
Fwd
$17.00 $ .26 $17.00 $34.26
$34.26 $(0.01)

My problem is that if a customer had a previous balance (J) and finance
charge (K), and paid the entire amount due (N), the Balance Forward should
reflect $0.00 because they have paid the entire amount, but instead is
showing as $(0.01).

The formula used for Finance Charge is:

=IF(J3>0,J3*0.015,0) **J3 contains the numbers**

The formula used for Balance Forward is =M3-N3

Can anybody please tell me why Excel is doing this? I'm guessing is has
something to do with rounding, but have had no luck finding an answer!

Please help!!

 

[Jason Morin]

This may help:

http://www.mcgimpsey.com/excel/pennyoff.html

HTH
Jason
Atlanta, GA

 

[Ramakrishnan Rajamani]

Try this

=IF(J3>0,ROUND(J3*0.015,2),0)